1. Reconciliation and Books Closing:
- Navigate to Bank Reconciliation for your main Checking Account. Clear the deposited funds and the rent check you processed. Finalize the reconciliation.
- Perform a Soft Close on the books for the month of January to lock the period from standard data entry.
2. Custom Presentation (Set Manager):
- Open the Financial Reports Set Manager. Create an Accumulator folder called “Total Mission Programs” and drag the Youth Services and Adult Education cost centers into it to combine them for reporting purposes.
3. Final Deliverables: Generate and save PDF copies of the following reports to prove your system is balanced and functioning correctly:
- Control Account Register: A Cash Disbursements Journal showing your rent payment.
- Statement of Financial Position: Showing your updated cash and net asset balances.
- Statement of Activities: Utilizing the Set Manager report set you built to show “Total Mission Programs” alongside Administration.
- Budget Comparison Report: Showing the actual vs. budget variance for your Youth Services revenue account.
Completion: Review your PDF reports to ensure your trial balance is balanced, your funds are segregated correctly, and your cost allocations have successfully moved indirect expenses out of the administrative cost center. Once verified, your Capstone Project is complete!