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Adding a Checking Account during accounting year?
Posted: Wed Dec 22, 2021 2:44 pm
by fbcofficelincolnil
I have another checking account that needs added to the Chart Of Accounts for 2022...how can I add this with the balance as of Jan 1, 2022? Thx in advance for your assistance.
Re: Adding a Checking Account during accounting year?
Posted: Wed Dec 22, 2021 4:37 pm
by Zorak
You can add the account by going to Accounting > Fund Accounting > Setup. Choose Maintain Chart of Accounts. Click Add and follow the onscreen prompts to add a Detail/Asset account.
To add the balance, enter a transaction in Accounting > Fund Accounting > Enter Transactions. Date it January 1, 2022 and accounting month January 2022. The new checking account will be debited. The account to credit will be determined by where the money is coming from.
Re: Adding a Checking Account during accounting year?
Posted: Thu Mar 24, 2022 1:59 pm
by Abbie
Hi Zak I have the same question. I created and all that. I am debiting the new balance and Credit will be from Unrestricted Net Asset will be?
Re: Adding a Checking Account during accounting year?
Posted: Thu Mar 24, 2022 8:20 pm
by NeilZ
Abbie wrote: ↑Thu Mar 24, 2022 1:59 pm
Hi Zak I have the same question. I created and all that. I am debiting the new balance and Credit will be from Unrestricted Net Asset will be?
No, you wouldn't debit Unrestricted Net Assets necessarily. Where are the funds coming from? Existing Checking account, Savings ???