Note: If you do not use Sage 300 General Ledger, Bank Services does not verify general ledger account numbers. ledger accounts starting with the bank account. If you do not use Sage 300 General Ledger, or your Sage 300 General Ledger system is at another location, Bank Services creates batches you can print or import into another program, then enter manually into your general ledger. Cash in checking (a separate ledger account for each bank account) Cash in savings Accounts receivable Reserve for bad debts Inventory Prepaid expenses. financial statements, the balance sheet and the profit and loss account. You have several options to determine how General Ledger retrieves the batches, as described in Bank G/L Integration Screen. If you use Sage 300 General Ledger, these batches of bank transactions are created in General Ledger, where you can edit and post them. For example, you enter transactions such as transfers between accounts and monthly service charges directly in Bank Services.īank Services creates journal entry batches for the general ledger to account for transactions that originate in Bank Services. However, the deposit was made in Bank Reconciliation.
General ledger transactions may still be sitting in a Financial batch waiting to be posted. A general ledger contains all the accounts for recording transactions relating to a companys assets, liabilities. However, the checkbook balance may not have been updated. The purpose of this example is to show the different types of information which should be kept, and one way of setting up the ledgers. In this situation, the general ledger may have been updated. You make all entries that affect the bank control account in Bank Services, not in General Ledger. SAMPLE TRUST ACCOUNT LEDGERS Please Note: These ledger pages are not intended to represent the only ethically correct way to keep trust accounting records. The General Ledger bank account is a control account, just like your Accounts Payable or Accounts Receivable control account.
If you use Sage 300 General Ledger, Bank Services acts as a subledger, just like Accounts Payable and other subledgers. An accounting ledger, also commonly called a general ledger, is the main record of your business’s financial standing. Creating General Ledger Batches in Bank Services
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