Reminder that 30 June is almost upon us – this is one of the two dates in the year where you will need to be able to produce a breakdown of your client bank account for your PSRA license renewal.
Just a few pointers to keep the stress levels down:
Be mindful of cut-off issues over the next few days – ensure that you record the transaction dates on Acquaint so that they match the actual bank dates
Run your next bank reconciliation up to 30 June – and ensure it’s fully reconciled
Check the Bank Account Balance report looks accurate and correct any errors
On Wednesday, 1st July, run any back-up reports you may need for the breakdown. Export them and save down an Excel version – e.g. Deposit Account Transfers, Overseas Tax, Fees to Transfer, Aged Debtors.
Keep a record of any other adjustments that may need to be made, e.g. cheques paid not yet cashed, cash/cheques received that have not yet been lodged to the bank, etc.