In my new role of FL8285 Treasurer I need to present the accounts for the calendar year 2024. This is lots of learning. Key points appear to be:
- Record transactions as and when they occur, not necessarily when they appear in the bank. For example a cheque written for somebody is entered into the account at the point of issuing it, not at th epoint when it gets cashed.
- There are four funds within the same bank account. Movements between funds are recorded even though the net efect on the balance is zero
- Getting everything to reconcile is harder than you think.
