HI
In Canada financial aid does not come to us in big batches. It comes to us one student at a time usually by direct deposit or by cheques.
When it comes into our bank there is no notation to what student is is for. It just says "Student Loan" We then get in the mail a transaction ledger saying that they put the funds in our account for the listed students. We have to disperse individually. It becomes a nightmare to try to keep track of all the journaling into the liability accounts. Add the institutional aid and it is almost impossible to keep track of the journaling. It would be great if somehow a box popped up somewhere that listed all the aid that had been dispersed but not yet journaled into liability and the ability to journal on the spot. If at least some tracking for the general journal entry tying it to a disbursement would be sooo helpful in reconciling financial aid for Canadians. I know US schools just batch it all in. Does not work that way here.
Thanks
Dennis