Statutory Balance Sheet

If the line “Transactions with missing Fund references and/or other differences” appears at the foot of the Balance Sheet, steps should be taken to make corrections so that it doesn't show.

The first item to check is to ensure that there are no transactions in Sage where no Fund Reference has been entered.  (This only applies if you are using Sage Funds, as opposed to Funds within the Dayta Academy System).  Run the 'Transactions without Fund Refs' report to identify those transactions and correct as necessary.

If there is still a figure shown on the Balance Sheet on the “Transactions with missing Fund references and/or other differences” line after correcting any transactions without a Fund Reference, the next steps are

• Run Data Check and correct any mis-mappings etc. identified by the report.  The report will show how to make corrections.
• Update the 'Last Sage No' on the Academies Configuration form by clicking the 'Get Last Sage Trans No' button.  The reason for this is that to calculate the net movement in funds for the current year the system needs to include only transactions in the current financial year.
• In Sage, make sure that for every nominal account for 'Funds' there is an equivalent entry in 'Charitable Funds'.  Ensure that every Fund in 'Charitable Funds' has a unique nominal account.
• More obscurely, check that no postings have been made to any of the fund nominal accounts in the last period of the year.  There should be no reason for direct postings to these nominal accounts anyway, but if you are forced to, enter any transaction date other than in the last period, as this is reserved for automatic journals created by the year-end process.