Add Outstanding Items to a New Bank Account

When creating a new bank account in AptaFund, you'll enter the beginning account balance based on the ending balance of the latest bank statement.

If there are outstanding items on the bank statement, you'll also need to enter them in the system.

Outstanding items & the GL

Since the journal entries you'll create for outstanding checks & deposits get recorded into the GL, you'll need to correct the GL balance using one of the following methods.

• New AptaFund implementations: Enter an adjusted balance as the beginning GL balance so that when banking journal entries are created for the outstanding items, the balance will then be the reconciled GL balance.

• Existing customers: Create reversing transactions in the GL for the bank register journal entries.

Create journal entries for outstanding items

• New implementations

• Create negative journal entries for the outstanding checks.

• Create positive journal entries for the outstanding deposits.

• Existing customers: Create void, and then new, transactions in the GL for the bank register journal entries.

Return to Add a Bank Account to a Bank

Return to Bank Account Management Overview