General Instructions Balance Sheet Reconciliations Page 7
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10Appendix A
Guidelines for Different Types of Balance Sheet Accounts
Account Type
Guidelines
All Balance Sheet
1. For accounts controlled by a sub-module, the sub-module
Accounts
report must be provided as supporting documentation and
must be linked to the Sub-module Report Balance on the
Reconciliation. Sub-module reports must contain the
month-end date, names of individuals or corporations,
invoice or reference numbers, amount of transaction and
sub-module report totals.
2. For accounts without a sub-module, the Details of Account
must provide full transactions details, ie. corporate or
individual names, date of transactions, amount, invoice or
reference number, and a description of the nature of the
item. Where there are multiple transactions sharing one
specific description such as “XYZ Conference”, these may be
grouped as one item within the reconciliation. Full details of
all transactions within this grouping must still be available
on the reconciliation and linked to the grouped total.
3. In any one account, if there are amounts due to or from the
same corporation or individual, such amounts must be
shown separately.
Cash
1. Cash accounts are assets, and are usually positive (debit)
amounts
2. General cash floats must be itemized by custodian name,
department and amount held.
3. Amounts recorded in clearing accounts must be itemized by
source of funds, individual amounts and the anticipated
date that the amount will be cleared.
Accounts Receivable
1. Accounts Receivable accounts are assets, and are usually
positive (debit) amounts.
2. Accounts Receivable amounts are those due from
corporations or individuals.
3. For accounts receivable transactions, either the sub-module
report is required, or the Details of Account must provide
full transaction details, ie. corporate or individual names,
date of transactions, amount, invoice or reference number,
and a description of the goods or services related to the
amount receivable.
Prepaids
1. Prepaid accounts are assets, and are usually positive (debit)
amounts
2. Prepaid transactions are amounts paid in advance for goods
and services to be received in future. Examples are airfare
paid in advance of travel, insurance, subscriptions,
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