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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / Adding a new bank account
Microsoft Dynamics GP (Archived)

Adding a new bank account

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Posted on by Community Member

Hi,

We are in the process of switching our bank account to a different bank. How would I go about doing that?

I'm assuming I would go into chequebook under the financial section and just set up the new bank, but is there a way to check what accounts need to be linked to that bank account? I'd want everything that was linked (AR, AP, Payroll, etc) to the old bank to be linked to the new bank as well.

Also, I'd guess I'd have to maintain both bank accounts and reconciliations until the old bank has cleared all outstanding cheques?

Thanks,

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  • Verified answer
    MattPaulen Profile Picture
    MattPaulen 6,912 on at

    You are definitely on track.

    I'd create a whole new GL account for the new bank account and then assign that to the new checkbook ID that you create.  Each module under the main setup window has a default checkbook you can select.  Switch that to the new checkbook ID when you are ready.  And yes, I'd keep doing both reconciliations until the old checkbook has everything cleared and is closed.

  • Community Member Profile Picture
    Community Member on at

    Hi All,

    If in case we made a receipt in old check book id and need to deposit in new bank account:

    Now we are following these steps:

    1. Pass deposit entry in the Old check book id.

    2. Transfer the balance to the new check book id through Bank Transfers Entry.

    Is there any other option to sort this out.

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