How can I got same value with COA accounts (for Bank) and Bank accounts

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Posted on by DannyR

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Hi Gurus,

I have test for the beginning balance setup to new Bank account (Test Bank 1) as follows and I expected when I posted general journal for this then I can check same value in COA account for Bank and Bank account statement but the COA account value is 0 and Bank account has posted value. How can I got same value in COA account.

Please check followed screenshot for general journal posted result.

(Chart of Account)

(General Ledger Entries)

(Posted general journal)

(Bank account ledger entries)

Thank you.

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Suggested answer

Nitin Verma 21,708 Moderator on at

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Hi,

Can you check if you have filled up Bank. Acc. Posting group field in your bank account for that particular COA No.?

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DannyR 123 on at

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Hi Nitin,

Thank you for your reply. Yes, The target Bank account has COA account no "11111".

Thank you.

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NAV_with_Narang 2,294 Moderator on at

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Hi DannyR - The problem lies in the entry you have passed. If you look at your General ledger entries closely, there is a debut to G/L No 11111 and a Credit to Bank TEST BANK 1. In essence, your TEST BANK 1 is connected to G/L 11111 through your Posting group screenshot

It means you have debited 100 and credited 100 in the same G/L Account (#11111) thus the net effect is 0 on your COA

Post with a different G/L (other than #11111)

Hope it makes sense

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DannyR 123 on at

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Hi Rahul,

Thank you for your answer.

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