I made the adjustment to show the actual amount in our bank account (just over 3500). But the numbers showing in the Total Cash category, etc. below that aren’t making any sense to me. Can someone help me understand where these numbers are coming from and how I can make sure they are accurate or adjust them if needed, in order to get on track?
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Our unit doesn’t use the payment logs. However, in a quick-and-dirty math sense just using the numbers you posted:
- Cash Available (conservative) = Net Assets - Fees Receivable
- Total Assets = Total Cash + Fees Receivable
- Net Assets = Total Assets + Total Liabilities
The reference that Stephen posted handles explaining how the various underlying numbers get created. There is a section under “Setting up your initial balances” that I think addresses the mechanics of resolving a discrepancy.
The question that your unit will need to address (that is beyond the scope of the software itself) is reconciling the underlying cause(s) of the discrepancy. Are there missing credits? Missing debits? Was the original reference bank balance incorrect? Something else?
Once you identify the issue, if you still think that there’s a “math error” in the payments log coding, it might be worth revisiting this with more specifics. Right now, it looks like there’s a data-entry error that’s causing the apparent discrepancies.
You can play with your numbers in the “Understanding the Calculations” part of the page that Stephen referenced as well, to explore how each value is impacting the calculations.
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@ElizabethRollans - our units use this for accounting
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