Question: Recording transactions that bridge the end of the fiscal year

I just set up our Finance Manager this summer (fiscal year ends June 30). When I set it up, I was required to enter my July bank statement beginning and ending balance. In order to get that month to reconcile in the Finance Manager program, I had to record checks that were written in the last fiscal year, but cleared by the bank in this fiscal year. The problem lies in that the previous treasurer recorded the checks in their old spreasheet for the previous year. I want to take it out of this year's report, but then I can't get July to reconcile in the Finance Manager. Any advice for me???

Asked by Anonymous



Advice from PTO Today

Rose H writes:
Hi there! Just spoke with our folks in leader support and they offered this help:

The checks that were written last year prior to using Finance Manager are reflected already in the accounts balance. You will not be able to take them out, (because they were written prior to using Finance Manager). The only fix is a correction, if you wrote a check for $18 then you will have to make a deposit of $18 and put a note in description why the deposit was made.

Going forward you will be entering the transactions as they happen and clearing the check as they clear the bank. You use Finance Manager as you would your own check book.

If you need addition help, please contact our leader support group. Someone would be happy to walk you through this, step by step. Leader support can be reached at 800-644-3561.

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