Changing beginning balances for bank accounts

When entering your beginning bank account balances, you enter the balance as of the last reconciliation, and all uncleared bank entries through the beginning balance date.

Note: If a bank entry has been cleared, you cannot change it unless you first unclear it on the Reconcile tab.

To change beginning balances for bank accounts

  1. From the > Setup menu, click Company > Beginning Balances > Bank Account.
  2. In the Bank Account field, select the bank account you want to change.
  3. Change information, as needed. Enter an additional bank item on the last row of the table.

Field

Description

Company

Multi-company only

View only - The company associated with the beginning balance

Bank account

The bank account

Statement date

The date of your last reconciled bank statement

Ending balance

The ending balance of your last reconciled bank statement

Notes

Any notes about the beginning balances for the bank account

Date

The date of the transaction

Type

The type of bank entry, such as a check or deposit

Payee

The recipient of funds if the item is a payment (such as a check)

Check number

The check number if the item is a check

Reference

The reference ID for an item that is not a check

Payments

If the transaction is a payment (such as check), the payment amount

Deposits

If the transaction is a deposit, the deposit amount

As you work, your balances appear at the bottom of the window, as follows:

Balance

Description

Outstanding

The statement ending balance

Register balance

The running total of your bank balance:

[Statement Ending Balance + (deposits - payments)]

Account balance

The amount you entered when entering a beginning trial balance for the cash accounts associated with this bank. If you used the same cash account on multiple banks, this amount does not appear.

  1. Click Save.
  2. Click Close.