The Financials Main > General Ledger > Uncleared Payments/Deposits page displays two types of data that have not yet been reconciled to a Financial Institution Statement:
- Transactions from the current fiscal year
- Placeholders from a previous fiscal year
The transactions are inserted automatically whenever a new payment or deposit is made that affects one of the functions associated with a bank account.
The placeholder items represent transactions from a previous fiscal year. Because the transaction was recorded in a previous year, its impact on account balances has already been recorded and should be accounted for in the new year’s starting balances. Therefore these placeholders do NOT appear in the General Ledger or any transactions reports. However, they must be recorded so that they can be reconciled on future bank statements.
Customers who are new to SchoolInsight will need to record the placeholder uncleared payments/deposits manually. At the end of each subsequent year, uncleared payments/deposits can be rolled over to the new fiscal year.
When launching with SchoolInsight Financials for the first time, uncleared transactions that were posted in the previous financials system will need to be entered so that they will show during bank reconciliation.
New uncleared payments/deposits should ONLY be created manually when a district has just launched with SchoolInsight Financials.
To create an uncleared transaction:
- Go to Financials Main > General Ledger > Uncleared Payments/Deposits
- Fill out the details
In future years, uncleared payments/deposits must be rolled over so that they can be reconciled in the next fiscal year. The versions of the uncleared payments/deposits that appear in the new fiscal year are used only as placeholders for reconciliation.
To roll over uncleared payments/deposits:
- Go to Financials Main > Setup > Fiscal Years/Months
- Next to the previous year, click the down arrow and Rollover Uncleared Payments/Deposits
- Each bank account will be listed, with all uncleared transactions. Check the ones that will need to be reconciled in the next fiscal year.