Opening balance for a new Asset account

[jerryrus]

We just setup a new checking account in PC. This checking account already had a balance in it. How do I reconize its balance as of May 31th so I can reconcile it at the end of June. June would be its first month fully in PC.

[NeilZ]

We just setup a new checking account in PC. This checking account already had a balance in it. How do I reconize its balance as of May 31th so I can reconcile it at the end of June. June would be its first month fully in PC.

You need to create a transaction in Funds Accounting. Using $1000 as an example, and the default PCPlus account numbers for the checking and equity accounts.

DB 01-1110-000 $1000 Beginning balance for checking account
CR 01-3110-000 $1000 Beginning balance for equity

You normally have no reason to enter ANY transactions against an equity account, as the system does that for you, but in this case since its a new asset account being used, you have to do this.

Again, adjust the account numbers to reflect the numbers you're using.