Balancing Bank Statements

Hi all,

This may seem like a silly question-

For those that use Integrated accounting, how easy is it to balance your checkbook on a monthly basis?

We haven’t turned this feature on yet, so I wanted to ask.

I’m assuming it’s pretty simple
In TT- Take the balance from all accounts and subtract it from the primary account to get a balance.
On the bank statement Balance minus outstanding checks.
Both should equal.

Your feedback is appreciated!



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I’m interested in user responses too. We’ve done our money accounts a little different, such that we treated all member accounts like receivable accounts. When they sign up for an event, we enter a bulk charge to the attendees instead of the transfer method to the troop account. We only make changes to the Troop account when we make a deposit at the bank or write a check. This is more consistent with traditional accounting practice and allows us to match the bank statement (audit able) but not geared to how Troop does its automated transactions.



Thanks for the response.

I had never thought about doing a bulk transfer to pay for an outing, I always assumed using the normal RSVP way.

Might have to think about it :slight_smile:

Just to be clear, you create a separate account for each outing then do a bulk transfer from the scout account to the outing account correct?




Not quite… We simply “Create a Bulk Transaction”, select “No” if asked if it’s a transfer between accounts, then enter the charges, selecting the attendees. This method allows our Troop accounts to stay “pure”, with only transactions that deal with real funds going through the bank so we can balance to the statement. There was another user that suggested having individual accounts for different events - an interesting idea.