bank recon statement

[Former Member]

now my client using 8 house bank a/c 14 bank account using shall i create for each bank 3 bank g/l account like one is main account and after that incoming cheque & out going check for clearing is this correct or not at this point of total total bank g/l account are almost 50 bank g/l account is it correct or not

[ameet_desai · Accepted solution]

Hello mydream,

What a name !!!!!

Yes it it correct..... You need to create 1 Main Bank A/c and 2 Clearing Bank A/c's 1 for incoming and another for Outgoing.

You can reduce the Clearing A/c's to 1 by combining the incoming and outgoing A/c's. If you do this you will have to configure accordingly. When you combine 2 GL's all incoming will be Credited and all Outgoing will be Debited.

Thank You.

[former_member221515]

This message was moderated.

[Former Member]

Hi,

It will be vary from client to client. basically what you are doing that's right. For every House bank you need to create Min. 3 GL accounts, 1 is Main GL keep 0 as a last digit of the GL Number (XXXXXXX0), 2 is Incoming checks clearing keep 1 as a last digit (XXXXXXXX1) and 3rd one is Out going checks clearing keep 3 as a last digit (XXXXXXXX2). If you want you can create one more 4th GL account for Misc. Direct debits and Credits in Bank (XXXXXXXX4 or 9). That means every House Bank has 3 or 4 GL accounts. Assign 4/3 GL's to Account symbols with their last digit only (+++++++++0). Assign main GL account (XXXXXXX0) in FI12 for House Banks, And assign Out going check GL account (XXXXXX2) in FBZP Bank determinations.

All The Best,

Dharma Rao. Yekula.