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Bank Accounts require a GL Account first, then define the bank details (BSB and Account number and related cards) on Host Company
Configure the definition of the bank branches
Admin > Financials >
If you already have GL accounts setup as bank accounts
Setting up a new GL account as a Bank Account on Host Company
Reference the account in the bank account configuration - see Managing the Chart of Accounts to add GL accounts
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Note that once transactions have been entered to the bank account you cannot change the GL account |
Setup a Credit Account as a Liability - Credit accounts are a liability for your business
Assigning Credit cards on Accounts to people and Assets
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An opening balance is simply a journal - one side is the current bank (or credit account) balance - the other side is normally formation assets or an account chosen by your accountant
Any journal to a bank account once reconciled cannot be changed. It is recommended therefore that opening balance journals NOT include a line for the bank account - but this is done as a separate journal so the opening balance journal can later be changed if required.
Fuel Cards
Fuel cards are a Merchant Account - ie not a bank account - but a company you need to pay.
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- Go to Bank Reconciliation for the bank account affected
You can only delete reconciliations if you have the Locked one selected - then right click on the ones to delete.
You can only delete the latest Closed reconciliation (and then once that has been deleted the next most recent etc).
Note that you may need to clear the date range on the filter to see all bank reconciliations.
- Delete reconciliations as far back as you need to including the first reconciliation
Note - if you need to delete the first reconciliation check to make sure that the GL account does not have any transactions prior to the from date of the first reconciliation.
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