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

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Posted on by DannyR

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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Answers (1)

DannyR 63 on at

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

Hi Rahul,

Thank you for your answer.
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NAV_with_Narang 2,234 Super User 2024 Season 1 on at

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

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
DannyR 63 on at

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

Hi Nitin,

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

Thank you.
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Nitin Verma 21,091 Super User 2024 Season 1 on at

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

Hi,

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