Other Accounts

Can your troop use a payment account other than its main bank account?

Yes!  But…

It has to be an account dedicated for troop use.  It can not be a personal account that you use for other things.

You must print out and keep statements showing all troop activity – all money coming in, all money going out.

You must include all activity from this account in your open accounting system so all troop parents are aware of it and can review it.

You must include all activity from this account on your Annual Report.

The Best Practice is to use this account from money collections ONLY.  All funds should be transferred to the troop bank account, with statements from both accounts showing the matching withdrawal & deposit transactions.  Any payments made by the troop should be made from the troop bank account only.