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How to add a Bank beginning balance

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Posted on 13 Feb 2024 01:31:46 by 10
A bank account beginning balance was not created during the original set up.
How to fix?
 
This is causing a variance between the GL account and Bank account.
 
Thanks.
  • Verified answer
    Gavin Profile Picture
    Gavin 2,350 on 13 Feb 2024 at 10:19:39
    How to add a Bank beginning balance
    Hi,
     
    To post the opening balance to the bank I enter a journal that both debits and credits the Bank GL account and creates a Bank Account Ledger Entry.
     
    For example the journal below would both debit and credit the GL Bank Account 
     
     
    This will produce the GL entries below:
     
     
    But will create this Bank Account Ledger Entry to affect the bank balance and that you can reconcile
     
     
     
    Hope this helps
     
    Thanks
    Gavin

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