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
- 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.