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Post Check in the payment journal to a transit G/L account
Nokio
Member Posts: 52
Hello,
We have encountered the following problem.
We pay our vendors by check.
The printing of a is only possible with a bank account as a balance account. If a check was printed, it is not possible anymore to change the payment line. The posting date can not be changes as well anymore. Let's assume we create today a check and print it out. After that we post it to the bank account. In this case, it looks as if the process is complete. However, the bank did not received the payment. We want to work for this reason with a general ledger transit account. This transit account shall be set as a balance account in the payment journal instead the bank account. Once the bank has registered the check, we will make a transfer from the transit account to the bank account.
However, when we set the g/l account transit as the balance account in the payment journal and try to print the check we get an error message "Bal. Account Type must be equa to "Bank Account". output paper sheet is stored as a counter-account ledger and and you try to print a check, it comes to the error. "The
It would be possible to print out the check with the current date but not post it. Then wait until the check is captured by the bank. After that we could void the check in NAV, change the posting date and create a new check with the prior check no. However, this is not the goal, because we do not see what is currently on the transit account.
Have you ever had a such a case?
We have encountered the following problem.
We pay our vendors by check.
The printing of a is only possible with a bank account as a balance account. If a check was printed, it is not possible anymore to change the payment line. The posting date can not be changes as well anymore. Let's assume we create today a check and print it out. After that we post it to the bank account. In this case, it looks as if the process is complete. However, the bank did not received the payment. We want to work for this reason with a general ledger transit account. This transit account shall be set as a balance account in the payment journal instead the bank account. Once the bank has registered the check, we will make a transfer from the transit account to the bank account.
However, when we set the g/l account transit as the balance account in the payment journal and try to print the check we get an error message "Bal. Account Type must be equa to "Bank Account". output paper sheet is stored as a counter-account ledger and and you try to print a check, it comes to the error. "The
It would be possible to print out the check with the current date but not post it. Then wait until the check is captured by the bank. After that we could void the check in NAV, change the posting date and create a new check with the prior check no. However, this is not the goal, because we do not see what is currently on the transit account.
Have you ever had a such a case?
0
Best Answer
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Nokio
Member Posts: 52
The question is solved. It is necessary to create a bank account "TRANSIT" and map it with the G/L Account "Transit" by the Bank posting group.5
Answers