Incomes & Expenses
Fund Operations → Incomes & Expenses
Use Incomes & Expenses when the fund earns operating income or incurs an expense. The source record states the amount, date, period and other details supported by the underlying evidence. Cash settlement and accounting recognition can occur on different dates.
Follow the source through payment and accounting
The source records what the fund earned or incurred and the evidence supporting it. A linked cash split answers how much was received or paid and through which account. A journal answers how the event is represented in accounting, subject to its posting status. These are connected records with different jobs.
An unpaid expense can already have posted recognition because accounting can recognize a cost and payable before cash leaves the account. Conversely, a linked payment does not establish that a recognition or settlement journal has been posted. Follow both relationships when the question concerns an outstanding payable or accounting readiness.
Start in Data to confirm the source record. For example, the Core administration expense is USD1,200. Its linked bank payment is a USD1,200 outflow, while its prepared accrual journal is Draft. The expense, payment and journal are three records with different jobs; the payment does not make the journal Posted.
Use Rollup to see source records through their cash-account links. Use Record Explorer when you need the documents, individual cash links or journal lines for one selected record. It can also start from an unpaid source; an unpaid expense can already have posted recognition.
Understand the records
Several payments can settle one source record, and one payment can be divided among several sources. Link allocations identify the portion assigned to each relationship. Journal lines can represent expense, payable and cash effects across separate entries. Compare each amount at its own scope rather than summing source, payment and journal rows as additional costs.
An income or expense source can have multiple settlement links and journal lines. Read their dates, signs, status and currency at the appropriate scope before comparing totals.
Tabs
- Data
- Rollup
- Record Explorer — Trace source events, cash settlement and accounting.
Where to continue
Use Accounting Operations for journal inspection and Cash for actual settlement. Repair the record that owns the incorrect value.
Return to Base Apps.