The National Office receives a lot of important information off of the check image shown on the bank statement. Because of this valuable information, it violates AYSO policy to use electronic payments to pay Region invoices. With electronic banking, the only information available on the bank statement is the date the transaction occurred and the amount.
However, there is other information that is necessary in order to stay in compliance with state and federal business and tax laws, as well as our own internal control policies. Here are three items missed from electronic payments:
1. Coding is not visible for electronic debits and without coding the National Office can’t file accurate state and federal tax returns (including monthly sales tax returns and other state business license returns). In addition, without coding your Regions National Accounting Program (NAP) Summary Report will not reflect the different income and expenses.
2. Electronic debits do not show what vendor is being paid
3. Electronic debits violate the dual signature rule
Find out other rules and information in the latest AYSO Treasurer Manual available from the Supply Center.