sql-ledger-users

[SL] Setting a start balance for bank account in 2.8.7?

[Tariq K. <ta...@kh...>]

Hi All,

I can't believe I've not had to do this before:

Is there a way to set the starting balance for a bank account ?

For example, if I want to set the start balance (for a 1060 checking
account) to =A310,000 to reflect the beginning of a new accounting year
using a new accounting system.

Thanks,

tk

Re: [SL] Setting a start balance for bank account in 2.8.7?

[Rich S. <rsh...@ap...>]

On Thu, 16 Aug 2007, Tariq Khokhar wrote:

> Is there a way to set the starting balance for a bank account ?

   Sure. Credit the checking/savings account and debit an equity account. Or,
ask your accountant how she prefers to have the credit side handled.

Rich

-- 
Richard B. Shepard, Ph.D.               |    The Environmental Permitting
Applied Ecosystem Services, Inc.        |          Accelerator(TM)
<http://www.appl-ecosys.com>     Voice: 503-667-4517      Fax: 503-667-8863

Re: [SL] Setting a start balance for bank account in 2.8.7?

[Rich S. <rsh...@ap...>]

On Thu, 16 Aug 2007, Rich Shepard wrote:

>   Sure. Credit the checking/savings account and debit an equity account.
> Or, ask your accountant how she prefers to have the credit side handled.

   I'm sorry; must not be fully cafinated yet. The bank account should be
_debited_ to increase the balance, and the equity account should be
_credited_.

Mea culpa!

Rich

-- 
Richard B. Shepard, Ph.D.               |    The Environmental Permitting
Applied Ecosystem Services, Inc.        |          Accelerator(TM)
<http://www.appl-ecosys.com>     Voice: 503-667-4517      Fax: 503-667-8863

Re: [SL] Setting a start balance for bank account in 2.8.7?

[Paul T. <pt...@gm...>]

Enter an opening balance via Journal Entry, quite S.O.P. for any accounting
package.
Do not forget to treat A/P, A/R and any inventory by entering invoice(s) as
stated in the documentation!

2007/8/16, Tariq Khokhar <ta...@kh...>:
>
> Hi All,
>
> I can't believe I've not had to do this before:
>
> Is there a way to set the starting balance for a bank account ?
>
> For example, if I want to set the start balance (for a 1060 checking
> account) to =A310,000 to reflect the beginning of a new accounting year
> using a new accounting system.
>
> Thanks,
>
> tk
>
> -------------------------------------------------------------------------
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>
>

Re: [SL] Setting a start balance for bank account in 2.8.7?

[Joseph A. M. <ja...@jo...>]

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If you use the program to reconcile the bank account - you will also
have to factor in those checks that were written in the previous year
and are still outstanding in the subsequent period. Simply adjust your
journal entry to reflect those checks separately.

www.joemaffia.com



Tariq Khokhar wrote:
> Hi All,
>
> I can't believe I've not had to do this before:
>
> Is there a way to set the starting balance for a bank account ?
>
> For example, if I want to set the start balance (for a 1060 checking
> account) to =A310,000 to reflect the beginning of a new accounting year
> using a new accounting system.
>
> Thanks,
>
> tk
>
> -------------------------------------------------------------------------
> This SF.net email is sponsored by: Splunk Inc.
> Still grepping through log files to find problems?  Stop.
> Now Search log events and configuration files using AJAX and a browser.
> Download your FREE copy of Splunk now >>  http://get.splunk.com/
> _______________________________________________
> sql-ledger-users mailing list
> sql...@li...
> https://lists.sourceforge.net/lists/listinfo/sql-ledger-users
>
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