Unit Banking - Balance Report

Tools/Forms:

Quick Tip 9 – Running a Balance Report
Quick Tip 10 – Understanding the Balance Report

Frequently Asked Questions:

Where do I find my Unit’s balance?

Run a balance report, go to ‘Reports’ and click on ‘Balance’. Choose a time period; start date and end date. Click ‘Submit’. Your balance is at the very bottom of the report: Balance End of the Period.

See Quick Tip 9.

I have allocated all of my transactions; why are there still amounts in the “Waiting (not allocated)” boxes?

Even though you have done your part, the allocations do not change until the transactions are fully verified and have a ‘Verified, Provincial’ status. The treasurer needs to send (scan/email, mail or fax) expense receipts or deposit slips to your Unit Banking Clerk. Once they have been verified, provincial, they will be in the proper allocations. It may take up to a week after your Unit Banking Clerk receives the receipts/deposit slips for the amounts to appear in the proper category.

See Quick Tip 10.

Is the balance at the bottom of the report a “true” balance?

Yes and No. This is not a ‘real time’ report. Any deposits that you have just done (within the current business day) will not be included. Also, it may take merchants up to 5 days to post Visa charges. However by taking these items into account, your balance is accurate.

How can I determine our Unit purchase card’s credit balance using the Balance Report?

  1. Run a new balance report using the 28th of the previous month as the start date and the current date as the end date. For example, if it is February 19th then your start date is 01/28/20XX and end date is 02/19/20XX.
  2. On your Balance Report, look at the Statement of Funds section (bottom half of the report) and read the number beside Expenses - Purchase Cards.
  3. Subtract this number (Expenses - Purchase Cards) from your Credit Limit to determine your available credit balance. This will only capture purchase card expenses that have appeared in your account.
When determining your available credit balance, also take into account the purchase card transactions that have not appeared in your account.
11/16/2019 4:09:49 PM