Auditors Report

The instructions in this article relate to the Auditors Report. The icon may be located on your StrataMax Desktop or found using the StrataMax Search.

The Auditors Report is a quick report of the banking, cash and ledger reconciliation and is only available in current year. Some states may require this report legislatively whilst others may have the option to select whether to include or not. Please check with a registered accountant if unsure about state specific requirements.

There are specific state requirements for auditing of trust or bank accounts and below are some common requirements and steps to produce the specific reports. There is an alternative to the Auditors Report, and that is to create a Report Set, which is a set of reports that are available in StrataMax and are collated into a single report.

It is recommended that you review audit requirements prior to the start of financial years to understand your requirements.

Auditors Report

1. Search or select Auditors Report.
2. Click Proceed.
3. Select the following options:
   • Output to Screen or Printer.
   • Year To Date - tick if required to produce the report to year to date.
   • Period End Date - change date if required.\
4. List will now be displayed on screen/printed.

Auditors Report | Report Set

The Report Sets page has more information on other types of reports that can be created as a set of reports and how to manage them.

To create the Auditors Report set

1. Search or select Reports/Utilities (Global).
2. Select the Global > Report Set.
3. Click New and enter the name for the report set, for example 'Auditors Reports', then click OK.
4. Click Add, then tick the reports that you want to add to this set of reports. This will depend on your audit requirements.
5. Use the Year Switch to toggle between reports for the current year or for the old year.

To produce the Auditors Report set

1. In the Report Set, highlight the report then select the configuration for a Contents Page or a Preview Per Building as required.
2. Click on to Select Building to tag multiple properties if required.
3. Click Proceed.

Account Balances at End of Each Month

The bank account balances as at the end of each month will be shown on the bank statements in StrataMax. To produce a statement from within StrataMax:

1. Search or select Bank Reconciliation. 
2. Click Statement.
3. Enter the Start Date and Finish Date for the period being required/ being audited.
   

Bank Reconciliation Report at End of Each Month

In StrataMax a Bank Reconciliation report is stored if transactions are downloaded within the banking. Due to the possibility of the Bank Reconciliation storing on the last day of the month, it is recommended to print the Bank Reconciliation report prior to completing the Month End Rollover. 

1. Search or select Bank Reconciliation Report.
2. Click Historic and select the Date as required. 

Cashbook for the Audit Period 

A general ledger transaction list for the Cash At Bank Account Code 012 should be produced. A Transaction List may need to be produced from the Old Year of the property if a Financial Year End Rollover has been processed during the period being audited. 

1. In the required building, use the Year Selector to either select the Current Year or the Old Year.  
2. Search or select Transaction List. 
3. Tag account code '012 Cash At Bank'.
4. Click the Set Limits tab. 
5. Enter date Start & Finish based on the audit period (this may only be part of the audit period if a Year End Rollover has been performed). 
6. Click Proceed. 
7. Click Print. 

Trust Accounts Receipts (if Applicable)

Trust Account Receipts are required for receipted money in NSW trust accounts. To enable the printing/creation of receipts see Receipt Printing - Setup. To print receipts for all properties:

1. Search or select Receipts Report. 
2. Enter receipt range required and click Run Report. 
3. Click Ok.

Statement Showing Credit Balances for Lot Owners/Debtors

As the Aged Balance List is produced to today's date, it is recommended that an Aged Balance List is printed/saved to DocMax at the end of each month prior to completing the Month End Rollover. 

1. Search or select Aged Balance List. 
2. Set Limits based on requirements. 
3. Click Ok.