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How to bring in Bank opening Balance after already posting transactions

  • 4 February 2022
  • 2 replies
  • 773 views

Hello COmmunity,

I am simulation a process.

Assuming a client go live. On the bank module, transactions like inter bank transfers, payment, bank charges etc have been posted against a bank.

HOw can I bring in the opening balance of the bank before go live so that the bank balance can be use to relate with the reduce the negative value to it actual value…..

 

Thanks in anticipation

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Best answer by Kandy Beatty 4 February 2022, 16:35

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Userlevel 7
Badge +16

Hi @saheed ridwan domain plusltd c 

  1. Create a journal entry for the day before you go live.
  2. Credit the Trial Balance, debit the ending bank balance. 
  3. Credit all outstanding payments, debit outstanding receipts. 
  4. Create the first reconciliation statement in Acumatica. 

  5. Select the reconciled check box for all the transactions except for the outstanding ones. Make sure that the cleared check box is checked also. If the opening Trial Balance has not been loaded yet, then don’t include the original credit you made. 
  6. The reconciled balance and statement balance should be 0.
  7. Take the statement off hold and release it. 

     

Userlevel 7
Badge +11

Hi @saheed ridwan domain plusltd c 

Adding to above post, extract from F200 guide which explains the process. 

Hope this helps.

Regards,

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