We have had the software in a box for awhile and the church is just getting around to using it. I was setting up my COA and beginning balances for 2006. (Ordered upgrade to 9.0 today )
I entered Year Start Balances for all my Balance Sheet accounts and when I run a Trial Balance, each fund is in balance. When I run a consolidated Balance Sheet, it is also in balance. When I run a balance sheet for just the General Fund, it is in balance. HOWEVER, when I run a balance sheet for any of my other funds (02-09), the liability side of the balance sheet does not show up, so these individual balance sheets ARE NOT in balance. Note that each of these funds only have an interfund account (ie; Cash in Treasury) and a Fund Balance. I am stumped!
Any help here? I am an accountant with plenty of fund accounting experience, so you can use "accountant speak" in your reply. Thanks!
Make sure that you have at least the liability group account defined in each fund. ie 02-2000-000 liabilities. The balance sheet and I&E reports will do some strange formating if you don't have at least 1 account defined for each section in your chart of accounts. This account can be the heading account for each section. ie for liabilities you would add a level 1 group account, numbered 2000-000 and give it the title liabilities.
Jeff: Thanks! That did it, sort of. Since we use the General Fund as a Treasury Fund as well, none of the other funds have any assets, so I also had to add at least one detail level asset account before it worked.
Actually, I only had to add a level 2 group, not a detail account, to assets. The only Asset I had set-up in each fund was 0X-1000 ASSETS. I added 0X-1050 CURRENT ASSETS at level 2 to each fund and my balance sheet now works. Thanks for pointing me in the right direction.
I've always been a "lean COA" type accountant and that's what got me in trouble here!
Dina
Last edited by LOVTreasurer on Tue Jan 24, 2006 10:45 am, edited 1 time in total.
There is better logic in version 9 regarding how the sections of the balance sheet and I&E are generated so you may be able to remove those group accounts after upgrading. Also version 9 will remove whole groups if no detail accounts in that group are printed. In version 8.5 and earlier group accounts were always printed. I'm glad that worked for you.
I recently entered beginning balances to begin using PC. The Balance Sheet by Fund report is in balance but the Balance Sheet is not. It is showing a repeat of a liability account. Though when I audit the individual account I do not see this and I do not see it on the Balance Sheet by Fund Report. I am using version 9.
I am running the Balance Sheet and the Balance Sheet by Fund reports.
The balance sheet has TOTAL ASSETS 55637.53, TOTAL LIABILITIES AND EQUITY 55787.52. Liability Account 2410 is repeated on the report, $150 twice. Yet on the Balance Sheet by Fund report this is not the case. TOTAL ASSETS 55637.53 TOTAL LIABILITIES AND EQUITY 55637.53 with no repetition of the 2410 account. When I review the Journal report I find only one entry for account 2410.
You are going to need to call support for help with this. It sounds like there is a problem with your data. There might be a duplicate record for your 2410 account.
By the way, it is less confusing to people later if you start a new thread instead of addining to a three year old posts. The problem you are having is not related to the original question on this thread.
The only thing I can think of besides Jeff's suggestion is that you have something posted in November 2009, and you are looking at one report through the current month (October 2009) and one through November 2009, where there might be a duplicate entry.
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