I’d like to use the the Cash Account Balance Analysis as a quick check that we balance against bank statement, however the current balance is incorrect because no opening balance was entered.
Is there anyway this can be updated so that balance is correct?
Hello
As I understand you have not entered opening balance of the cash account in IFS Application and I below would work.
Open the Manual Cash Balance window and click New.
Enter a source either directly in the Source field or by using the List of Values.
Fill in the fields Bank Account and Account Holder.
Enter Amount and Currency.
Enter Source and Cash Flow Type either directly in the fields or by using the List of Values.
End by selecting Save.
The system automatically sets the current date as the Reg Date.
This activity is used to manually enter cash balances that are not included in transfers from IFS/Payment. Balances could be funds deposited on bank accounts and bank loans. The manually entered balances can be used in cash flow analysis and reports.
In order to perform this activity, basic data must have been entered in the Cash Flow Sources and Cash Flow Types windows.
Kindly test this in a test environment and verify before applying to production environment,
Thank you,
Dhananga
Hi
You could use mixed payment for one account and manually offset to clearing or migration account. Then another mixed payment for the other account and manually offset the same clearing or migration account.
As you cannot do cash transfers using a manual journal entries with Q vouchers. You need to use the mixed payment to create the entries in the cash book.
Hope this helps.
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