Bank Account Journal

This report is a journal of transactions by bank account.

If you have a separate bank account for restricted checking and the balance does not match the Summary of Restricted Accounts report, review the Monthly Posting Journal to determine if the matching transactions posted to the restricted checking account were posted to only restricted accounts. Also, make sure the reports are set up identically.

If the Current Balance on the Bank Account Journal does not match the Total Balance in Bank Account Inquiry, keep in mind that the Total Balance in Inquiry includes all transactions for all periods. The Bank Account Journal includes only those transactions for the selected report view.

Check Register — Bank Account Order or Check Order

This report displays a journal of check transactions. You can print this report in checking account order or bank account order.

The asterisks * indicate there is a break in the check number sequence. The asterisk does not necessarily mean the checks are not entered in ACS. The checks may be posted to a different time period since the check register prints by posting month and year.

Funds of out Balance

This report is a journal that displays the transactions that are out-of-balance by fund, any balancing transactions, and a recap of totals for each fund. The Funds out of Balance report displays transactions that cross funds and create an out-of-balance by funds situation.

Posting Journal - Detail

The Posting Journal is a journal of all accounts, along with the detail of the debits and credits posted to each account.

The following list includes a few reasons that the Bank Reconciliation and the Posting Journal may not match:

• Current month transactions are voided to a future month. The original transaction appears in the current month's reconciliation. The void transaction appears in the future month's reconciliation.
• Current month transactions are posted with a future month's transaction date. Bank reconciliation displays based on the transaction date range. The Balance Sheet and Posting Journal display transactions based on a post month and year.
• Journal entries are made to the cash account and are included on your bank statement but not in bank reconciliation. However, if a journal entry includes a checking or saving account, you can mark the entry to include in bank reconciliation.

You can check for these in one of two ways:

• Compare a complete Bank Reconciliation report (including cleared and uncleared transactions without the page break) and the Bank Journal for the month you are reconciling.
• In General Ledger - Inquiry, select the cash account, select the current reconciliation month and MTD, then right-click in the grid to sort transactions by date. Check for transactions dated in a future month. For example, reference number 5182 is a deposit for $2,212.80 with a transaction date of 03/02/08 and a posting date of 02/2008. Next, select the next month and MTD. Check for transactions dated in the current reconciliation month. For example, a voided transaction dated 02/28/08 but posted to 03/2008.

Balance Sheet

If the Balance Sheet and Summary of Restricted Accounts do not balance, make sure you select the same period for both reports. Also, select the Include Accounts with no Activity and Include Inactive Accounts options on the Options tab when you select to customize the reports.

To display the separate totals for excess cash received for each fund, select Total Excess Cash by Fund on the Options tab when customizing the report.

The Fund Principal is the resources of an organization (comparable to owner's equity in a business). Its balance is based on the following equation:

[ (Assets – Liabilities) - Restricted Accounts ] + (Revenue – Expenses) = Fund Principal

All revenue and expense accounts are closed to a fund principal account at the end of a year.

Although the fund principal heading is a major heading in the chart of accounts, it is also a liability account. For the balance sheet to display correctly, you must have your fund principal accounts located under the Fund Principal heading.

Excess Cash Received on the Balance Sheet

The Excess Cash Received is the amount on the General Ledger Balance Sheet that is the difference between revenue and expense account totals. It is comparable to the net total on the Analysis of Revenues and Expenses report.

If your balance sheet displays liability account information but not liability headings, add subheadings to the Chart of Accounts for each heading that does not display.

Tips for determining a true out of balance:

• If your balance sheet is out of balance for January of the new year but was in balance for December or the 13th month of the previous year, you have not performed year-end procedures for the year ending December 31. The report will be out of balance for the amount of the excess cash.
• Verify the correct fiscal month and year are selected on the report.
• If you include open transactions in the report, verify that none are open for previous years.

Summary of Financial Position

The Statement of Financial Position report is comparable to the Balance Sheet with one additional section that separates net assets into Unrestricted, Temporary Restricted, and Permanent Restricted.

Total Unrestricted (total of income minus total expenses) also displays on the Analysis of Revenues & Expenses report as a net total in the YTD Actual column.

The Total Temporary Restricted and the Total Permanently Restricted amounts added together are the same as the ending balance on the Summary of Restricted Accounts report. If the totals are not the same, select Include Accounts with no Activity on the Options tab when customizing the Summary of Restricted Accounts report.

Summary of Restricted Accounts

This report lists the beginning balance, any revenues or expenses during the selected period, and a current balance. Also available is a six column report that includes columns for any credit or debit adjustments made to the restricted accounts. You must identify which sources you want reflected as revenues and expenses.

The beginning balance on the report is the same as the beginning balance in the General Ledger - Inquiry window for the same period.

For transactions to display under the Restricted Revenue or Restricted Expense column, you must select the sources for revenues and expenses. For revenues, select Deposit and Checking Account Debit. For expenses, select Check and Checking Account Credit. You can make these selections on the Options tab when customizing the report.

Because restricted accounts often have no transactions posted for several months, ACS Technologies recommends that you select Include Accounts with no Activity when printing this report.

If the balance displaying on the Summary of Restricted Accounts report does not match the balance on the

Balance Sheet for restricted accounts, make sure that all accounts are included on the Summary of Restricted Accounts report. On the Options tab under Customize, select Include Inactive Accounts and Include no Activity and Zero Balances.

Trial Balance

The Trial Balance report is a statement of each general ledger account and its corresponding budget and current balance. You can also print a trial balance report for the 13th month.

The current balance is the YTD actual balance for the selected account. This balance matches the account's current balance for the same period in General Ledger - Inquiry.

Trial Balance Worksheet

The Trial Balance Worksheet displays all general ledger accounts, beginning balances, and all debits and credits for each account in the selected period.

The Current Balance is the account's actual balance for the selected period and matches the balance for the same period in General Ledger - Inquiry. The annual budget displays for any account with a budget amount entered.

The most important use of a trial balance is to make sure that the debits and credits are in balance. If the total for the current balance column is not zero, the trial balance report is out of balance.

Sources and Uses of Funds

If your asset accounts have a zero balance, the available balance does not display on the Sources and Uses of Funds report. To display accounts with zero balances, select Include Accounts with Zero Balances when customizing the report.