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The system closes the change in fund balances/net assets to different accounts depending on the fund and the trial balance or worksheet. We need to understand the system’s process including data flow and automatic closing accounts to be able to properly code the journal entries that are needed to arrive at the proper amounts in the proper net assets (fund balance) classifications for the various financial statements. By understanding the system defaults, we know when we either need to override the default or enter a reclassification entry as appropriate for the given circumstances.
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