3,482
Hi:
The following are steps that are being taken for going live with Banking:
(1) Set up the bank accounts,
(2) Test A/P processing including EFTs in a test company,
(3) Test conducting bank reconciliation including use of the Yodlee feed in a test company, and
(4) Import opening bank balances in a test company to agree to the G/L.
Is there anything else that should be conducted?
Thanks!
John
Other than the importing, is there anything else? :)
4 - you don't import just an opening balance. You need to make sure that your outstanding items (checks and deposits) are in your bank account(s). Generally, I put these in a GL journals with the bank on one said and the associated GL on the other (net zero effect on the GL. This does mean that you have to open direct posting on the GL accounts for the banks, post the journal and then turn direct posting off.
#1
André Arnaud de Cal...
291,622
Super User 2024 Season 2
#2
Martin Dráb
230,354
Most Valuable Professional
#3
nmaenpaa
101,156
Share
Report
All responses (
Answers (
