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Troubleshooting: Am I in Balance?
Verifying that your key accounting records are in balance is an important task in Instar. Customer Care recommends you review the following reports periodically throughout the month. InStar Customer Care also recommends completing the following tasks as a part of your End of Month closing.
Verifying the Financial Statement
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Print your Financial Statements by clicking Main Menu > Accounting (or F3) > Reporting > Financial Statements.
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Verify the total YTD Assets equal the total YTD Liabilities plus Equities on your Balance Sheet report.
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If the totals are not equal, re-print the Financial Statement with Include Inactive Charts selected. There may be an account with an outstanding balance that is marked inactive. If the YTD totals on the Balance Sheet are equal when you include inactive accounts, you must make the inactive account(s) active again. To find inactive accounts, contact InStar Customer Care for assistance.
Contact InStar Customer Care if the YTD totals do not equal even after including Inactive Charts.
Verifying Accounts Receivable
Verify that your total Aged Receivables equal the YTD total for the Accounts Receivable G/L 1200 on your balance sheet by doing the following:
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Access your Aged Receivables report by clicking Main Menu > Accounting (or F3) > Reporting > Aged Receivables.
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On the Aged Receivables window, click Refresh to build the list of current receivables.
Make sure Include Future Items is selected.
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The program compares the Aged Total to the G/L 1200 account and displays any difference between the Aged Total and Chart Total fields in the Difference field. If nothing appears in the Difference field, the Aged Receivables total matches the year-to-date total for the Accounts Receivable G/L 1200 and you are in balance.
If the totals do not match and a difference appears, try including Cash In/Out items in the report. The difference may be between the Cash In/Out and Accounts Receivables accounts. Contact InStar Customer Care if a difference appears even after including Cash In/Out.
Validating Company and Producer Balances
The Accounting Differences Report validates that Companies and Producers are in balance. The report checks for a difference between the outstanding items on the Company/Producer ledger and the account balance.
Differences occur when marked items are paid without creating an offsetting entry. (Once the check is generated, changing the amounts to pay from the Check window.) If you don't want to make the corrections before posting the check, use edit mode to enter the amount to pay.
If you have a difference you may be able to find the source by looking through the Closed items for an item marked "paid", but for which no check was created. If you find such an item contact InStar Customer Care for assistance.
Contact InStar Customer Care for assistance in correcting accounting differences.
Also contact InStar Customer Care for assistance if when marking items to pay, you clicked No instead of Yes when asked to create an unposted check.