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January 3, 2022
Question

I switched bank accounts last year, what entry do I need to make in order to account for the expenses from the old account but still reconcile the new account?

  • January 3, 2022
  • 1 reply
  • 4 views
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1 reply

Rustler
Level 15
January 4, 2022

You create a new bank account in the chart of accounts, then transfer the money from the old to the new.

 

reconcile each account separately just as you always did, when all the transactions in the old account are reconciles, open the chart of accounts and make it inactive