training:eom_bankrec_os
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— | training:eom_bankrec_os [2008/10/16 11:05 (16 years ago)] (current) – created - external edit 127.0.0.1 | ||
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+ | ===== Problem Description ===== | ||
+ | Consideration of Outstainding checks when starting with System Five so the checks can be recognized on the bank reconciliation. | ||
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+ | ===== Solution ===== | ||
+ | Modifying the starting journal entry to consider outstanding checks as a part of the starting bank balance allows for the checks to display in the bank reconciliaiton tool. | ||
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+ | Example: | ||
+ | Starting bank stmt balance: | ||
+ | Outstanding Checks: 2,500.00 | ||
+ | Starting Ledger Balance: 20,000.00 | ||
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+ | Starting Journal Entry will consist of a debit to the bank account of 22,500.00, and credits to the bank for each outstanding check. | ||
+ | The net effect is 20,000 to the bank ledger number that equals the trial balance | ||
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+ | Note: this article is also publicly available at http:// | ||
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+ | {{training: | ||
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+ | Created by Charlene Scott at 16/10/2008 10:50:34 AM | ||
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training/eom_bankrec_os.txt · Last modified: 2008/10/16 11:05 (16 years ago) by 127.0.0.1