Why is there a Fund Suspense in the Statement of Financial Position?
There are three possible causes:
To resolve this issue, identify the transaction causing the Fund Suspense and then follow the relevant steps in either Scenario 1, 2 or 3.
Identify which transaction is causing the Fund Suspense
Navigate to Fund Level > Reports > Statement of Financial Position
- Locate the Fund Suspense amount
- Click on "View Transaction" button
Unmatched transaction in current financial year
If this event is intended to be unmatched, then leave it unmatched.
If this event should be matched off
Navigate to Fund Level > Transactions > Match Transaction screen
Refer to our User Guide on Transaction Processing for further details.
Transactions matched across financial years
If this match is intended to be across financial years, then leave it as such.
Otherwise, check the event date of the matched transaction.
Navigate to Fund Level > Transactions > Browse Bank Accounts or navigate to Fund Level > Transactions > Browse Events
Business event in a closed financial year has status of "Awaiting approval"
You are required to re-open the related financial year without rolling back the Tax Finalisation or Period Update and then approve the event which is sitting with the status of "Awaiting approval".
Navigate to Fund Level > Transactions > Browse events
- Change the date range from when the fund is in Class (e.g. 30/06/2017)
- Group business events by "Matched Summary"
- Check for transactions "Awaiting approval"
- Click on the link for "Awaiting approval"
- Click on the "Approve" button
- Close the prior financial year