Users should keep in mind that all banking transactions need to be processed through a Chequebook ID in order to display in that bank subledger & that one should NEVER post a general journal entry to a bank GL account. When we look at the Bank Transaction window, there is only a single Chequebook ID to allocate the transaction to. This is the account to which this transaction will apply. You will see in the lower portion of this window, you must explicitly state the other half of the GL portion of this entry. This should NOT be a bank GL account as a general journal entry to that bank GL will not affect that bank’s subledger.
A transfer of funds from one account to another should be completed through the Bank Transfer Entry window where possible. You will see on this window that there are two Chequebook IDs that must be identified. Thus, this transaction will affect two separate bank subledgers. One can only use this window wherein one of the account currencies is the functional currency (this is due to how GP treats the entries and is a restriction of the system). When you need to enter these types of transactions, you will have to enter TWO separate bank transactions. One will be an Increase Adjustment to the ‘to’ account, the other a Decrease Adjustment to the ‘from’ account while using a clearing account to flow the funds through.
Adam MacIntosh is a Senior Account & Project Manager with WebSan Solutions Inc, a Microsoft Dynamics GP Partner and 2013 Canadian Channel Elite Awards Winner. Adam can be reached at email@example.com or 416-499-1235 ext 213.