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author's profile photo Former Member
Former Member

Chart of account - Banks

We can assign one chart of account to 2 or more clients but the Bank accounts are unique for each one....

So, here's mi question......

Can I assign the same number for both clients?? P.ej

client 1000 acc. 113000 client 2000 acc. 113000

client 1000 acc. 113001 client 2000 acc. 113001

client 1000 acc. 113002 client 2000 acc. 113002

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  • author's profile photo Former Member
    Former Member
    Posted on Jul 18, 2011 at 06:07 PM

    Yes. Individual clients are your sub-ledger accounts. You can have multiple sub-ledger accounts assigned to the same reconciliation (GL) account. Creation of new general ledger accounts should be driven by the nature of the GL account - Savings, Checking, Term Deposits, etc.; but you don't create one GL account for each of your clients.

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