Hi
How do other troops prepare troop financials? I see the functionality in TT to export money book transactions from TT to csv, but then what? How do other TT users prepare balance sheets and income statements on a monthly basis?
Thank you
2 Likes
Hi @YoginiParmar ,
Great question!
I think it all comes down to what information you want to show. We are getting ready to roll out the financials, but this is something I’ve thought about. I think for right now, you’ll need to manually create the report after you’ve download the financials.
I’d love for TT to create some reports such as a balance sheet that can be tied to specific troop accounts.
Regards,
Scott
2 Likes
Wonderful, that would be a good add for treasurers as it will save time. Thank you.
1 Like
I export the data to Excel (it opens automatically for me) and turn on Filter to play with the data. The biggest thing I do is I keep a budget file with the plan and actuals of Income and Expenses. I periodically do an output from TT to see the recent activity, consolidate that into my budget.xlsx file, and report that to our committee.
I also have a Bank Activity TT account where all of the deposits initially come in then off to the appropriate account, and the checks go out, funded from the appropriate account via transfers. I also use it to reconcile with the bank statement. That account should always end up at zero (so I know I moved all of the money).
Hi @cpdyer,
I’ve been thinking about your Bank Activity account idea.
With the amount of transactions, processed, how do you match your deposits with your transfers? Do you add a notation somewhere in the transaction?
Thanks,
Scott
Check out this thread - Sub accounts in money.
First I deposit into the Bank Activity (BA) account. Using the same date, I move that money into the individual scout accounts. I pull all of the info from my paper log I keep with me, so when I move the money to the scout accounts, I mark them Reconciled and check off the lines in my log. The BA account should be back to zero. Then when the bank statement comes in, I mark those entries (deposits/checks/fees) Reconciled, so everything should be reconciled in the BA account except for the items that haven’t yet cleared the bank.
1 Like
Hi @cpdyer ,
Thank you for the detailed explanations! I appreciate the detail and the thought. This is good stuff for a lot of troops!
As we move into the scouting year, I want to be prepared as much as possible. Be prepared… I think I’ve heard that before somewhere 
Regards,
Scott