When preparing financial statements for an incorporated association, it is essential that the preparer refers to the relevant State Incorporation Act, particularly in areas of the accounts where specific legislative requirements apply.
HandiLedger automatically populates the accounts through the use of the Incorporated In field.
Log in to HandiLedger.
From the View menu, click Entity Details.
Select the Type as Company and Sub type as Association.
Select the relevant State under Incorporated In.
Click Save.
Once selected, HandiLedger will populate areas in the Auditor's Report and Notes to the accounts with industry-recommended Association Incorporation Act references relevant to the selected state.
Note:
The Incorporated In field is only available for entities with Type Company and Sub type Association.
This applies to both reporting and non-reporting entities.