Closing a checking Account to Cash

Fund Accounting, Accounts Payable, Accounts Receivable, Payroll

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KnoxChurchLis
Posts: 2
Joined: Wed Feb 10, 2010 12:21 pm

Closing a checking Account to Cash

Post by KnoxChurchLis »

I have a Library Account at one bank that was closed to cash to be deposited to the General Fund account at a different bank.
I have credited the one bank account but what do I debit?

Zorak
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Re: Closing a checking Account to Cash

Post by Zorak »

You would debit the bank account where the money was deposited.

JuliePastorMom
Posts: 4
Joined: Tue Sep 12, 2023 12:05 pm

Re: Closing a checking Account to Cash

Post by JuliePastorMom »

I'm a brand new user with no background in accounting but as the Pastor's mom I was drafted into service. We changed banks just as I was starting and I don't understand how to enter everything to reflect this. I tried what was suggested here but the old account doesn't balance, and now the new account doesn't balance either. I don't find anything in the manual on how to do this.

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