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Allocating expenses relating to a member from suspense (Pro version)

Users on the Pro version and above are able to allocate suspense entries through a more contemporary, tabulated interface designed to improve workflow.

Once you have imported your bank data:

  • Choose Suspense Allocation from the Transactions menu
  • You will then see the Allocate Suspense Entries screen

From the Allocate Suspense Entries, you will see a list of transactions you will need to allocate.

The following example relates to a life insurance premium of $98.63 paid for Anita (a member of the fund).

In the relevant row, you need to choose the Edit button against that expense transaction.

You will see the following screen.

  • On the above Edit Record screen, we selected “Anita Brown” as the Member account because the Insurance expense related to her account.
  • When the screen first appears, the Account will be pre-selected as 2-9999 – Bank Clearing Suspense Unallocated
  • To change the Account, choose the Right down arrow and a list of alternative options will display.  You then choose the most appropriate option.  In our example, we have selected 5-1015-01 – Insurance Premiums – Preserved/Taxable.
  • If required, you can change the Description to something more meaningful.
  • Once you have chosen the Account, you then choose UPDATE
  • You will now see the Allocate Suspense Entries screen again.  You can then choose the next transaction to allocate

Note:

  • It is extremely important that you always select the correct Account here, as, if you select Fund, then the expense will not be correctly allocated to the member’s account.