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opening balance for cash account

Posted on by 115

Hey everyone,

I wanted to continue our journal for the cash account.

But until now, there was never an opening or closing balance indicated (unlike our bank).

When I enter a new journal of a bank statement, an opening and closing balance of th transactions is indicated and this is the same as on the bank statement.

I wanted to create the same for our cash account now.

Unfortunately here in the office is no one who can explain this to me.

THANK YOU !

Ralf

  • mebxl Profile Picture
    mebxl 115 on at
    RE: opening balance for cash account

    Dear Ludwig,

    I am always amazed about how fast you answer these question of mine ! :-)

    And I found a solution. I tried via a 'dummy' bank account.

    But actually, in the existing journal setup I just activated the offset account as 'fixed offset account' and de-activated the beginning/endinf balance control.

    That gives me now the figures I have on the offset account when I enter a journal.

    THANK YOU !

    Ralf

  • Verified answer
    Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at
    RE: opening balance for cash account

    Hi Ralf L.,

    Can't you setup your cash account as a 'dummy' bank account?

    Making this setup would give you all the advantages that you have for your bank accounts. The only thing to look out for is that you address the cash account only indirectly through the selection of the respective 'dummy' bank account.

    Best regards,

    Ludwig

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