Page 1 of 1
How do I handle two banks?
Posted: Tue Jan 22, 2019 1:03 pm
by Turning Point
We are selling some of our land and our leadership team wants to split the money into different banks to make sure everything is FDIC insured. How do I handle that in PC? I assume that I cannot just keep doing the normal accounting as I can't imagine how I would balance the accounts.
Any ideas or suggestions?
Lisa
Re: How do I handle two banks?
Posted: Tue Jan 22, 2019 5:37 pm
by NeilZ
Turning Point wrote:We are selling some of our land and our leadership team wants to split the money into different banks to make sure everything is FDIC insured. How do I handle that in PC? I assume that I cannot just keep doing the normal accounting as I can't imagine how I would balance the accounts.
Any ideas or suggestions?
Lisa
I'm assuming that these funds will be in savings? You just create new asset accounts for each. Each account is reconciled separately.