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training:eom_bankrec_os

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training:eom_bankrec_os [2008/10/16 11:05] (current)
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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.
 +
 +===== 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.
 +
 +Example: ​
 +Starting bank stmt balance: ​ 22,500.00
 +Outstanding Checks: 2,500.00
 +Starting Ledger Balance: 20,000.00
 +
 +
 +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
 +
 +Note: this article is also publicly available at http://​wiki.wws5.com/​share/​BankRec_OS_Checks0810161050.html
 +
 +{{training:​bankrec_os_checks0810161050.flv|}}
 +
 +
 +
 +Created by Charlene Scott at 16/10/2008 10:50:34 AM
 +
  
training/eom_bankrec_os.txt ยท Last modified: 2008/10/16 11:05 (external edit)