Why doesn't my pool account balance in the GL equal my FACTS market balance?

The FACTS module is a bank reconciliation for an investment account instead of a checking account. The General Ledger balance is representing the balance in the investment account(s) at a particular period, plus all the activity that has been booked in the General Ledger thru that date. The balance in the FACTS module represents the Investment account balance or bank balance. This balance does not include the activity that has yet to be seen by the bank.

These transactions are typically:

• Checks that haven't cleared (if the checking account is in the pool)
•  Deposits that were made after the close of the investment account for the month (but during the month for G/L purposes)
•  Admin fees that were booked in the GL, but hadn't cleared
•  Transactions involved in moving money- typically asset rebalancing

To identify the differences- particularly for a year end audit, run the transaction entry listing.   If your year-end is 12-31-2015, then depending upon when you are being asked the question, you might need to run both the Transaction Entry Listing to obtain the unreconciled transactions, and the Transaction History Listing to obtain the transactions reconciled since year-end. 

• Select on transactions whose date of transaction was before 12-31-2015, but with confirm dates after 12-31-2015.
• Sorting and subtotaling on the tran type field and sorting on the Fund ID will give you a good report of the reconciling transactions.
• Use both reports to explain why the GL balance is different from the FACTS balance for the period ending 12-31-2015 and the cycle ending 12-31-2015.