Balance Sheet and Fund Balance Report relationship??

[WellsAG]

Hopefully, with this forum, I’m getting a better understanding of the fund accounting side. I want the numbers to be accurate and to be able to show why. If I understand right, if I use the ending balance total, from the fund balance report, that number should match the balance sheet total assets number minus the total liabilities??
Thanks
Larry

[NeilZ]

Hopefully, with this forum, I’m getting a better understanding of the fund accounting side. I want the numbers to be accurate and to be able to show why. If I understand right, if I use the ending balance total, from the fund balance report, that number should match the balance sheet total assets number minus the total liabilities??
Thanks
Larry

FWIW .. its always better to start a new topic when you change the subject, as you new questions may be overlooked.

On the Balance Sheet ... the ASSETS listed should include all your checking accounts (unless you selected a specific Accounting Fund). You subtract the liabilities from the Total Assets, and it should equal the Net Assets. Then the Total Liabilities and Fund Balance line should equal the Total Assets.

The Net Assets should equal the Ending Balance in the Accounting Fund Balances report. The Balance Sheet is the final arbiter. The Accounting Fund Balance report is basically adding deposits (income), and subtracting expenses, whether it be a written check, or funds moved to liability accounts.

The Balance Sheet will show the rest of the story as it will show that all those funds in the checking account are not 'unrestricted' as they are 'to be paid out'.

[WellsAG]

Thank you for your help! Much appreciated

Larry