FINSYNC uses an Accounting Start Date so your reports (Balance Sheet, etc.) are accurate. By default, your accounting start date is set to the first day of the calendar month during which you created your business profile.
Example: If you create your profile on 1/20/2015, then your start date is automatically set to 1/1/2015.
To check on your accounting start date, follow the steps outlined below:
1. Click on the Company Profile Icon in the upper right corner of your screen.
2. Select Account Settings from the left side of the menu.
3. Select Reports from the left-hand menu.
4. From the Reports page you can change your accounting start date by selecting Change Date.
- When you sync a bank account with FINSYNC, it pulls transactions back 90 days into the system.
- Only the transactions on and after your accounting start date will be reflected in your reports.
- You should account for your financial activity before your accounting start date in your opening balances.
- Outstanding bills and receivables should be created as invoices and bills in FINSYNC and not accounted for in opening balances.