FAQ Number : S6                                       Latest Update: 10/07/08

1.     Set up a Short Code account called Unpresented Items in Account Maintenance.

2.     Enter each item that is unpresented either in Transaction entry – Receipts (for income) or Transaction entry – Payments (for uncleared cheques written). Date these items prior to the current financial year.

3.     Go to Screen Enquiries – Reports by Account. Select the Unpresented Items account and print Summary Statement. Make sure all unpresented items appear, and ensure that the total is correct.

4.     Finally, return to Account Maintenance and enter an opening balance for this account that is equal but opposite to the total of unpresented items. (ie if you have written £50 of cheques that are not yet presented, opening balance is £50. If you have £50 of income banked but that has not on statement, opening balance is -£50, if you have £100 of payments, £50 of receipts, opening balance is £50).

5.     As each item appears on a bank statement, it can be reconciled off in Transaction entry –Bank Statements.