FACTS Reporting
Please print outstanding/in transit transactions on the Account Reconciliation Report in FACTS. We have to make a spreadsheet of all in-transit items for our auditors at the end of the fiscal year so they don't try to do reconciling entries to get the GL to balance to the investment account statements when there are outstanding transactions.
Impact: Not having this feature causes my staff additional work at year end and tends to confuse our auditors.
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Guest
- Aug 11 2015
- Reviewed: Voting Open
- +20
Related ideas
You can run this report already by using the Reports > Transaction Entry Listing Report. Select on the pool. The transaction date range should have an ending value equal to your year end - or the ending cycle date. It is additionally helpful to sort by description and possibly subtotal. As long as you run it before processing the first cycle in the new year, you will capture all of your outstanding items. If you wait until later, it will be necessary to run the FACTS transaction history listing as well.