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Hi:
In the image below of General Ledger Entries, 83008 is a Bank Charges (expense) account.
Am I correct in saying that this is a debit to 83008 of $15.00 and a decrease to the bank account (the balance account) of $15.00?
John
Yes that is what the first line of this journal will do. - Will be posted both to the bank and the balance account for the bank posting groups.
The secound line will not affect the bank account, so should you really post that?
When you post to the bank account you will effect both the bank account and the G/L balance account for the bank account.
Well, both lines were already posted. And, the original journal entry had only one line.
How does that affect your answers?
You should start by checking if the balance on the G/L account for the bank account is now the same as on the bank account itself.
It is a little hard for me to see that with only the data you provided.
John,
Adding to what Inge replied... You are correct that the entry above is a Debit to 83008 - $15.00 and a Credit to GL Account 01006 - ($15.00), which is a Subledger to Bank Account CHASE.
Not sure what you meant by both lines are already posted and the original was one line. If the Bank Account Ledger reflects an entry for -15.00 and the G/L Account 01006 show the same entry, then you balance.
Thanks,
Steve
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