Account 302 - Undistributed gains/losses ... Time to run an audit
If you're looking at the Balance Sheet for your fund in FundCount and you see an amount sitting there in the 302 account, you know it's time to run an audit (i.e. "Tools" >> "Audit").
I ran into this situation when I was working to close out the books for a particular month.
The little notice at the bottom right hand side of the screen that tells you when you have an unaudited period from a certain date should not be relied on as the only indicator of when you need to run an audit. You should run an audit anytime you have been using the software in any way and are about to start producing reports.
I ran into this situation when I was working to close out the books for a particular month.
The little notice at the bottom right hand side of the screen that tells you when you have an unaudited period from a certain date should not be relied on as the only indicator of when you need to run an audit. You should run an audit anytime you have been using the software in any way and are about to start producing reports.
posted by Bobby at 12:42 PM
0 Comments:
Post a Comment
<< Home