Monthly Balance Report

Auditors recommend that you complete monthly reconciliations of your financial records and compare them to your Treasurer and/or Accountant. Avitar Tax Collect provides a Monthly Balance Report to assist you in this process. The Monthly Balance Report is a summary of all transactions posted for a selected month. At the end of each month the system captures the balances for the previous month. Therefore, once the month has ended, your Monthly Balance Report will remain the same even if you reprint it in subsequent months.

 

Oftentimes, Auditors refer back to Monthly Balance reports from previous months and they want to see a report showing the details behind the figures displayed. So we recommend you print and/or export the following reports at the end of each month, as it will save you valuable time at some point in the future. Also, some reports listed below are not needed to balance for the month, such as the MS61, Collection YTD, and Receivables reports. However, these reports are accumulative, which means the moment you post a transaction, the report is updated. By printing/exporting the reports monthly, before you post any transactions for the next month, you will be able to access that exact report for an Auditor at some point in the future.

 

All reports requiring a date range should be run from the first of the month to the last of the month. For example, if you are balancing for the month of October, you would run the reports from October 1st to October 31st.

 

 

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