I am in exactly the same boat, doing the books for a preschool. Today I got on the phone with Edilberto from Quickbooks and he gave me the answer. For an example, I wrote a check for $1000 in May to our CPA to prepare our taxes. But they didn't cash it until July. This is a problem because our fiscal year ends June 30th! So when the new board for this school year looks at our budget it looks like we've already used up all the money we need to pay taxes. And last year's budget looks like we didn't use any of it. So here's what you do: In Banking: * Upload all of your banking info * Assign the correct categories and add them like you usually do. Then go to the Register (up on the right side look for a little blue "Go To Register" link. * Find the checks that should have been cashed before June 30th (or other items) * Click once on them * Click the "Edit" button * Change the date (I used 6/30) and save When you go to reconcile the bank statement, if these items are not included, you can filter for the date you used (in my case, 6/30) and check them to make sure they are included. Now your budgets should be correct, as well as your bank statement reconcile.
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We are a small preschool and our fiscal year ends June 30th. In July I had some late payments and bills come in. What can I do so that these items are associated with the budget that ended in June? I need to accurately represent exactly what came in and went out last year, so it doesn't appear as those the parents for the upcoming classes are paying bills from last year's classes.
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