on 01-04-2011 4:26 PM
Hello all,
we are implementing bank statement integration.
First we have to define the related GL accounts CoA of course.
My problem is that we have thousands of bank accounts. usually best practice is to create one GL account for one bank account ID.
This would imply that we create thousands of GL accounts...a situation we would like to avoid
It seems possible to use one GL for several bank account ID ? However I wonder if this does not raise problems for bank statement reconciliation.
Has anyone encounter such context ? What kind of solutions are possible ?
Thanks for your help !
Hi,
For better reconciliation it is recommended to use separate gl account for each bank account
Regards,
Gaurav
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Hi Gaurav,
indeed this is what we answered to the key-user in the first place
However creating thousands of GL accounts for bank accounts is a shock for them - and for some reasons they cannot reduce that number.
I was wondering if using a single GL for several bank accound id, raises any issue, e.g. during bank statement integration.
Or if any other tricky solution has been experienced elsewhere ...
Hi ,
For bank reconcilition purpose it is always recommended that we go by individual GL account , as it is advisable for effective and correct reconcilliation.
At least as per my shot on the subject i would recommend that for incoming and outgoing bank accounts you should create 1 GL account each for each bank . for main bank again you can rethink and make it a consolidated one .
secondly , please take the details as to how is bank submitting the information is it branch wise or are the providing consolided statement for reconcilliation .
do revert back if you are still stuck up .
Hope this suffices .
Regards ,
dev.
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