FrontAccounting forum — Can´t add new bank account

Re: Can´t add new bank account

2014-01-01T18:11:22Z

Yes, I think you must. It will be easier to follow the transactions this way. Nice to hear from you again Tom. Long time no see.

Joe

Re: Can´t add new bank account

2014-01-01T17:16:14Z

If I am changing an account from one checking acount (1060) to another (1062) should I transfer the funds out before the change and back in after?

Re: Can´t add new bank account

2013-03-11T01:56:31Z

Thank you Chris.

Eric

Re: Can´t add new bank account

2013-03-06T05:55:32Z

I'm not sure I fully understand how you have FA currently set-up, but the bottom line is that each physical bank account needs to have a separate GL account. This is true no matter what kind of account it is - chequing, savings, whatever. If you're posting transactions from multiple bank accounts into one GL account, you're creating a huge mess.

Hope that helps...

Regards,

Chris

Re: Can´t add new bank account

2013-03-06T01:22:16Z

but my existing accounts are under one code
eg.

1060 check account 1122
1060 check account 2432

Do I keep using these accounts or create ones under different codes?

Thank you
Eric

Re: Can´t add new bank account

2013-03-05T06:30:57Z

No, you shouldn't have to make any changes to the existing bank accounts you have already set-up, although you may want to edit the account name field so that you know which account is which. So, for instance, let's say you already have this structure:

Code Type Account Name
------------------------------------------------------------
1061 Cash Cash Account
1071 Chequing Chequing Account
1081 Savings Savings Account

If you want, you can change it to this:

Code Type Title
------------------------------------------------------------
1061 Cash Cash Account "A"
1062 Cash Cash Account "B"
1071 Chequing Chequing Account "A"
1072 Chequing Chequing Account "B"
1081 Savings Savings Account "A"
1082 Savings Savings Account "B"

I hope that helps...

Regards,

Chris

Re: Can´t add new bank account

2013-03-05T01:49:52Z

what about the existing accounts (eg checking accounts sharing same code), are they still work as intended?
or I need to create new ones for the change?

Thank you
Eric

Re: Can´t add new bank account

2013-02-25T10:17:51Z

Yes, this is what I meant .
Janusz

Re: Can´t add new bank account

2013-02-24T02:09:33Z

Thank you.

Eric

chrison wrote:

Yes, I think that's what he means.
There's another logical reason for having separate GL accounts for each bank account... it would be extremely difficult to reconcile bank statements with the GL if accounts are intermixed in one GL account. Having separate GL accounts would be much easier to manage/reconcile in the long run.
Hope that's helpful...
Regards,
Chris

Re: Can´t add new bank account

2013-02-23T21:16:23Z

Yes, I think that's what he means.

There's another logical reason for having separate GL accounts for each bank account... it would be extremely difficult to reconcile bank statements with the GL if accounts are intermixed in one GL account. Having separate GL accounts would be much easier to manage/reconcile in the long run.

Hope that's helpful...

Regards,

Chris

Re: Can´t add new bank account

2013-02-22T18:16:58Z

Do you mean I need to create account code eg. 1061 for another checking account, then assign 1061 to the new bank account?

Thank you.
Eric

Re: Can´t add new bank account

2012-01-18T11:59:34Z

This constraint has been introduced long time ago, and there are good reasons for this.
GL postings to bank related accounts can be done also via Journal Entry menu option. For each such GL posting bank transaction have to be generated in background to preserve bank report consistency. This is possible only if every bank account use separate GL account.
Janusz

Can´t add new bank account

2012-01-18T01:28:16Z

I made clean installation of frontaccounting latest version.
In Maintenance / Bank Accounts I can´t add one more bank account in same GL account.
I receive message "The GL account selected is already in use. Select another GL account."
In older version this is possible. I have more than one bank accounts in each Cash, Saving, Credit or Check GL account
It´s because the Chart of accounts be different?
Someone help me