Accounting

Articles

Account Required is Not Found in Selection Given in Strata Master
Account Required is Not Found in Selection Given in Strata Master The drop down selections for General Ledger Accounts are found in a variety of processes. The options selected here will assist you to work out why you cannot find the account numbe...
Balance Sheet Does Not Balance
What to do if a balance sheet is not balancing
Balance Sheet Receivables does not Correspond with Levy Position Report in Strata Master
Balance Sheet Receivables does not Correspond with Levy Position Report in Strata Master The Receivables-Levies figures in the Balance Sheet Also known as the Statement of Financial Position, as highlighted below should balance with the arre...
Barcode Scanning for Creditor Invoices in STRATA Master and fileSMART
Barcode Scanning for Creditor Invoices in Strata Master and File Smart Barcode scanning for Creditor Invoices automates the processing of large batches of invoices, for payment by Bulk BPAY. Using a handheld barcode scanner to scan each invoice St...
BMC Setup and Use in Strata Master
BMC Set up in Strata Master 1)  Configure > Association types  | create a new Association type - Building Management Committee 2)  Configure > Bank Accounts > enter a new Bank Account - Unless a General (single...
Create Multiple Miscellaneous Owner Invoices Quickly in Strata Master
Create Multiple Miscellaneous Owner Invoices Quickly in Strata Master Strata Master enables the creation of multiple miscellaneous owner invoices in one step, so you no longer have to create them one by one for each Lot. This is particularly usefu...
Creating a Miscellaneous Owner Invoice
Creating a Miscellaneous Owner Invoice in Strata Master This article will assist you to understand when to use Miscellaneous Owner Invoice, how to process , along with some information that will assist you to use Miscellaneous Invoices so as to not...
Creating Additional Entitlement Sets
Creating Additional Entitlement Sets From time to time, charges may need to be posted to some, but not all lots in an Owners Corporation. By creating an additional entitlement set, these charges can be posted to multiple lots at once, base...
Downloading a Bank File to Strata Master
Downloading a Bank File to Strata Master The process of downloading a bank file is usually covered by our Education section, after the setup of the Electronic Banking in Strata Master. This article is not a replacement for training. This article i...
Editing a description on a Creditor Invoice
Editing a Description on a Creditor Invoice This article will assist you to change the description on a creditor invoice after it has been entered into Strata Master. Please note that we suggest caution in changing descriptions after Financials ha...
General Guide to Fixing Transaction Errors in Strata Master
General Guide to Fixing or Correcting Transaction Errors in Strata Master This is a general guide to assist in correcting errors.  It will assist in guiding to a functionality that reverses, cancels or edits. It will assist in locating reports...
How to Change a Financial Year End
How to Change a Financial Year End An owners corporation may want to permanently change its financial year end, for example from June year end to December year end. This can be accommodated in STRATA Master with a careful procedure being f...
How to Record Dishonoured Amounts in STRATA Master
How to Record Dishonoured Amounts in STRATA Master When a levy or other payments have been receipted and banked in STRATA Master, and is later dishonoured by the bank, complete these steps. Cancel original receipt(s)   ...
How to Search/Cancel Payments in STRATA Master
How to Search/Cancel Payments in STRATA Master Summary This article will assist you to search for payments to note status and cancel the payment. When a Creditor Payment is cancelled, it is returned to the Creditor Invoice screen, and then need t...
Levies Due Does Not Balance With Levy Positions Report in Strata Master
Levies Due Does Not Balance With Levy Positions Report in Strata Master There are a few reports that have figures that should balance or agree with each other. Two of those are the General Ledger for Levies Due and the Levy Positions report. These...
Levy Discounting User Guide
Levy Discounting User Guide From Version 5.0 of STRATA Master, the levy discount rate is recorded when the levy is being posted. This  allows for different discount rates being resolved for levies within the same plan. When posting levies ...
Methods of Recording for Special Purposes in Strata Master
Methods of Recording for Special Purposes in Strata Master There are various methods of recording for special purposes in Strata Master, depending on your Owners Corporation requirements for reporting. It is recommended that you review each optio...
Search for a Transaction
Search for a Transaction This article will assist you to see what transactions have already been processed in Strata Master, and is a general guide. Searching for transactions assists you to reconcile your bank statements to Strata Master, ensure ...
Transfer Funds From Admin To Capital Works / Sinking / Reserve Funds - Strata
Transfer Money From Admin To Capital Works / Sinking / Reserve Funds - Strata And Vice Versa Summary There are 2 funds in Strata Master - Admin Funds Funds called Capital Works Funds, Sinking Funds, Reserve Funds or even Maintenance Funds depe...
Understanding Double Entry Accounting
Understanding Double Entry Accounting Strata Master is a double entry accounting platform. Therefore it creates Balance Sheets and Income & Expenditure reports and other financial reports. This article will assist the recall of those with som...
Unpresent a Presented Payment in Strata Master
Unpresent a Presented Payment in Strata Master If you accidentally tick a payment presented in the bank reconciliation, you will need to 'unpresent' the payment to show the payment in the bank reconciliation list again. It would not be adv...
Unable to Edit a Transaction in Search/Edit Transactions in Strata Master
Unable to Edit a Transaction in Search/Edit Transactions in Strata Master Summary Some transactions can be edited in the Search/Edit Transactions screen. When clicking on the transaction, a pop up box will show editable fields. This article will a...