I am new to the forum and wondered if anyone could give me a little help please? i work for a charity and my role is now to handle the accounts more. Previously they were recorded and left for the end of year examniation. i have been more involved over previous years, however last year I had some time off work and was not here when the examination took place.
some of the figures on this dont make a great deal of sense. I dont understand how the Statement of Financial activities doesn't balance with the balance sheet?
Would I be right in thinking that these 2 figures need to balance?
I can't understand how I cannot get them to balance, figures from Bank Recs and monthly Income and Expeditures have been included. Banks Recs are done on a monthly basis and have always balanced.
Also how do I clear out a suspense account to deal with increase to petty cash?
Hi, you're right that the Balance Sheet and SOFA should balance in terms of total funds. Are you able to get the Trial Balance which was used for the accounts and check things back. Or perhaps the difference can be spotted as a transaction ...?
