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Tip of the Month

Tip - How to print a Trial Balance broken down by member account.

From the Reports menu select Accounting Reports > Trial Balance and check the Member account breakdown box.

Alternatively you may click the Doc Centre tab then right click and select Add Document, highlight the Trial Balance then check the Edit Report Settings box. The same screen as below will then appear.

Click on the Member Accounts tab, uncheck the box to select all members then search and select the member account for which you wish to print the report and click on Preview.

If the message below appears this may be ignored as it relates to the previous year. Click on YES to ignore.

Review the Trial Balance asset & liability entries allocated to the selected member.

Note: In the above report the current year Trial Balance does not balance. This report was produced as an example of the member account not being able to be closed as there was a member allocated amount of $2,000 in Sundry Creditors.

The situations where a Trial Balance broken down by Member Account may be useful are -

1. To confirm that a member account is fully allocated ie to ensure the total debit balance is equal to the total credit balance for the member. Where a fund is flagged as fully allocated with all assets and liabilities allocated to member accounts the Trial Balance printed for each individual member account must balance.
2. To confirm that a member account which is flagged as segregated and to which assets have been allocated has the total debit balance equal to the total credit balance for that segregated member account.
3. When trying to close a member account a warming message may appear that there are allocated assets or liabilities for the member account which prevent it from being closed as in the example above.