TREASURER'S
Corner
November 2023

Hello Texas PTA Treasurers,

Are you starting to get into a routine and feeling comfortable as treasurer?  I hope so, but if you need some help, don’t forget to reach out to your Council President or Field Service Representative with questions. Check the ‘Need Help?’ Tab of the Local PTA Roster if you are unsure of your PTA’s Council President or Field Service Representative. Here are some upcoming sales tax webinars that you might be interested in attending:

Join me for a Sales Tax Webinar tomorrow, Tuesday, November 14th at noon to learn more about Sales Tax Permits. You’ll learn common items a PTA sells that are taxable, how many sales you can have before needing to have a sales tax permit and how to apply for a sales tax permit.  A representative from the State Comptroller’s Office will lead this session and help you understand if your PTA needs a Sales Tax Permit. Please register for the webinar here.

If you already have a Sales Tax Permit and want to learn more about how to complete the return due by January 20th each year, save the date for Monday, January 8th at noon to learn more about the ins and outs of completing this return correctly and timely.  You can register now.

990Ns Alert:  A handful of PTAs used tax990.org to file their 990Ns this year. The PTAs paid $19.90 and have now reported that no actual filing was transmitted or accepted by the IRS.

Enjoy your upcoming Thanksgiving with family and friends,

Kim Belew
Texas PTA Treasurer
treasurer@txpta.org
MONTHLY
  • Deposit funds and make payments as needed. Ensure proper documentation is maintained for the PTA's records.

  • Record transactions including sales tax and state/national dues as a liability (it may be called an escrow depending on the type of financial software you use).

  • Coordinate with the membership chair to submit members/dues to Texas PTA.

  • Prepare financial reports (dated from the last meeting to current meeting).

  • Propose any budget amendments for membership approval, if needed

  • Reconcile the checkbook/financial software to the monthly bank statement.

  • Reconcile any e-commerce, credit card or merchant accounts to the monthly account statement.

  • Check the Local PTA Roster to confirm that your PTA is in good standing. If not, follow up on what’s missing.
  THIS MONTH (if the following haven't been done already):
  • Confirm the IRS Form 990 has been electronically filed for the FY23 (2022-23). Check the IRS Tax Exempt Organization Search if you file a 990-N. There is no need to notify Texas PTA of the filing as it will show up on the monthly IRS download after being accepted by the IRS.
  • If you have a sales tax permit, get your sales tax records in order so you are ready to file your quarterly or annual report by January 20, 2024. If you file annually, remember that sales tax is filed on a calendar year, January 1 through December 31, so you will need the information on sales tax collected from January 1, 2023, through the end of your last fiscal year to add to any sales tax collected for the current year through December 31. If your PTA has a sales tax permit, a sales tax return must be filed on time regardless of whether sales tax was collected.

Treasurer Resources
Inactivating Categories
MyPTEZ allows users to “Inactivate” categories that are no longer needed. This allows users to maintain the financial history of the category via MyPTEZ reports while also removing the category from future reports. Inactivating a category also removes it from being an option to assign to a new transaction in MyPTEZ. 

To inactivate a category, select the “Ledger” menu item and then select “Category List”:
Once in the category list, find the category that you would like to inactivate by searching for it, or scrolling through the list. Once you locate the category, double-click on it.
Uncheck the “Active?” checkbox and click “Save”. If you need to reactivate a category, you can filter the Category List by the Active/Inactive status. Double click on the inactive category and select the “Active?” checkbox to reactivate the category in MyPTEZ.
Click here for all tips to date. 

Q: Where and how do I report our sales tax and state and national dues liabilities (sometimes known as escrow) to the executive board and members?
A: First, these items should not be reported as income of your PTA since this money isn’t your PTA’s money, but is owed to someone else. Read more on this question of the month as well as past Questions of the Month here.
Read the last Treasurer's Corner here.

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