1 Topic by the_economist (edited by the_economist 09/23/2011 11:53:35 pm)

  • Registered: 09/23/2011
  • Posts: 5

Topic: Overdraft

I'm a newbie to FrontAccounting. I've just put in a payment, it came up with:

"The bank transaction would result in exceed of authorized overdraft limit for transaction: Bank Payment #6 on 30/06/2011."

How do I increase the limit?

Thanks in advance

  • joe
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  • Registered: 03/15/2007
  • Posts: 5,107

Re: Overdraft

If the bank account is of type cash account it won't allow negative values. Please change the bank account type.

/Joe

  • Registered: 09/23/2011
  • Posts: 5

Re: Overdraft

Thanks Joe.

I have another Q: With Profit/Loss Year in "Setup and General GL Setup" set to an expense A/C. I created an account called "Profit Clearing" and assigned Profit/Loss to it. But it sticks to the original account when printing a P/L. How do I change it to the new account?

  • joe
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Re: Overdraft

You do that in Systems and GL setup, Setup tab.
If the old account has been used for former transactions, it will show up. In that case you can do a Journal Entry where you correct this.

/Joe

  • lena
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  • Registered: 11/12/2011
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Re: Overdraft

Dear JOE,

I have Same Trouble Even there is balance Avaiable in Account. "The bank transaction would result in exceed of authorized overdraft limit for transaction:....Please advice what i should do

  • joe
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Re: Overdraft

FA goes backwards to see if the balance of the cash account per the transactiondate would be negative.
You can either use a later date or use todays date for the transaction (if you know it is positive). 

/Joe