Financial Reporting

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 January–31 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 contact the IEEE Business Finance Solutions team at finance-solutions@ieee.org.
 

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 contact the IEEE Business Finance Solutions team at finance-solutions@ieee.org.

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Compliance reporting

All annual compliance documents should be submitted via the MGA Compliance Documents portal. Your IEEE Account and password are required.  Please contact the IEEE Business Finance Solutions team at finance-solutions@ieee.org with questions or concerns.
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Submittal instructions

Those Geograhic Units that report their financials through NetSuite need a NetSuite User ID and Password to access the application. Geographic Unit Treasurers should have received an email from the IEEE Business Finance Solutions team with this information. If you have not received your NetSuite credentials, please contact the IEEE Business Finance Solutions team at finance-solutions@ieee.org

Please note that all year-end bank statements for local bank accounts (Non-IEEE Concentration Banking accounts) must be submitted via the MGA Compliance Documents portal.  If you have any questions or need further information please contact the IEEE Business Finance Solutions team at finance-solutions@ieee.org.

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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 19 February 2021.  

Units submitting financial reports later than 28 February 2021 will not receive rebate payment for 2020 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.

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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.
 
E-mail questions for IEEE Finance staff to finance-solutions@ieeee.org