Creating a General Journal Entry for a Bank Account


This is a duplicate record listed under "Bookkeeper." The original is under "Banking" as this procedure is properly performed from the Banking toolbar.

Big Business does not allow a Journal Entry (from the Journal tool on the Bookkeeper toolbar) to a Bank Account because it would create an entry the would not show up on a Reconciliation. (3007, 30721)






Big Business does not allow a Journal Entry (using the General Journal tool on the Bookkeeper toolbar) to a Bank Account because it would create an entry that would not show up on a Bank Reconciliation.

Use the Balance Adjustment tool on the Banking toolbar. Think of the Balance Adjustment a General Journal entry between a Bank Account and a Category. Use the Balance Adjustment to record adjustments to your Bank Accounts, including service charges and corrections.

When using the Balance Adjustment tool, keep the following in mind:

• Balance Adjustments are permanent. You cannot Void or Delete a saved Balance Adjustment. To correct an error, you must enter another Balance Adjustment.

• Balance Adjustments allow you to select only one offset Category. For payouts with splits, use a Misc. Check or Make a Payment to Other.

• When using a Balance Adjustment in conjunction with a General Journal entry, you may want to create a clearing account for use on the General Journal entry, then use the Balance Adjustment to affect the Bank Account, using the clearing account as the offset.

To enter a Balance Adjustment:

1. Select the Balance Adjustment tool. Enter the Reference Number, Date, and Bank Account, as appropriate.
2. Enter either a New Balance for the account, or the amount of the adjustment.
3. Specify an offset Category, using the Category QuickPop.
4. Click the OK Button to Save the Balance Adjustment.



Related:

  Chapter 8 Banking

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