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Introduction to suspense allocations (Pro version)
Mclowd provides users with two options in terms of suspense allocations:
- A legacy interface (available to all users)
- An upgraded interface which incorporates a tabular interface for faster transaction processing (for which access is restricted to Pro and Premium users only)
- The suspense allocation function – in either mode – is not suitable for adding a new property or any additions to that property
- That should be done only via Add New Asset or Assets screens
- However you can allocate property-related rental income and deductions via suspense allocation
This balance of this introductory article relates to the Pro version interface.
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 that are available for allocation.
You can sort via the following columns:
- Entry ID
- Source Account
- Member Account
You can also use the Search FUNCTION in the top right corner to search for a particular transaction.
The following series of Knowledge Base articles covers:
- Expenses relating to the fund
- Expenses relating to a member
- Rental income
- Bank transfers