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This page contains details about the IEEE Geographic Unit financial reporting process, deadlines, and instructions.

IEEE geographic units must annually report their financial status (using the financial online reporting tool, NetSuite), covering the period of 1 January31 December.

 

Forms and instructions

Below are several NetSuite training guides that have been designed to help your geographic unit when using and navigating through the system. Please read through these guides before entering any data into NetSuite. If you have any questions, please e-mail the IEEE Business Finance Solutions team.

Note: To access the eLearning file, save the zip file to your hard drive, extract the files from the zip file onto your hard drive, and then open the Launch_Presentation.exe file.

 
 

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Using NetSuite

The financial reporting tool, NetSuite, has been specifically designed for geographic unit use. NetSuite allows geographic unit Treasurers to log in, record, track, and submit financial data to IEEE headquarters. If you have any questions about the new process or system usability, please e-mail the IEEE Business Finance Solutions team.

 
 

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Compliance reporting

All annual compliance documents can be accessed, downloaded, and submitted via the MGA Compliance Reporting Web page (IEEE Account and password required). Please submit all year-end bank statements for all bank accounts reported in NetSuite via this portal as well.  E-mail the IEEE Business Finance Solutions team with questions or concerns.

 
 

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Submittal instructions

To submit your geographic unit's financial activity, please access NetSuite.

A NetSuite user ID and password are required. Geographic unit Treasurers should have received an e-mail from IEEE Finance staff with this information. E-mail IEEE Finance staff if you have not received your user ID and password.

The change in this new process is that you will no longer submit the legacy L50 form. The completion and submission of your unit's financial detail to IEEE headquarters will be on a transactional basis and completed through the online financial reporting tool, NetSuite.

Original year-end bank statements and investment account statements (not IEEE Concentration Banking and Investment Accounts) must be provided. Please upload copies of those documents via the MGA Compliance Reporting Web page. Some banking institutions do not provide hard copies of the banking statements. If your unit is not able to provide the original bank statement with your financial report, please e-mail IEEE Finance staff.

 
 

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Deadlines and bonuses

Geographic unit Treasurers are responsible for recording the financial activity of their unit and any subunits (Subsections, Chapters, and/or Affinity Groups) using NetSuite. In order to be eligible for the 10% rebate bonus, this information must be in the system no later than 15 February 2014.  

Units submitting reports later than 31 March 2014 will not receive rebate payment for 2013 activity.  

If the Section or Council is unable to obtain financial records from a subunit, it may opt to submit a statement that the subunit has failed to submit a timely financial report and waive its right to a rebate for that particular subunit. Delinquent subunits may be subject to probation or even dissolution.

If all reports are submitted by the February deadline, your unit will earn an additional 10% bonus to the total rebate. However, if the information submitted is not complete or contains errors, and if corrections are not submitted within 60 days of a written request, the 10% bonus will be forfeited.  The written request provided by IEEE will clearly state what action is expected, the date by which it must be submitted, and the consequence if not submitted.

Chapters/Affinity Groups
For subunits that report consolidated financials with the Section, income and expense information and year-end bank statements (if applicable) should be submitted to your Section's Treasurer as soon as possible.

 
 

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