Setting up Bank Account Beginning Balance

Bank account beginning balances must be entered based on the prior management company’s month-end bank statements.

To enter bank account beginning balances:

Select Banking > Bank Accounts. If you are using universal navigation, click Accounting > Settings > Bank Accounts.
Search for and select the applicable association.
Click on the Description to open the Bank Account Information screen.
Enter the statement ending balance in the Beginning Balance field, then enter the statement ending date in the Balance Date field. Click Save.
To change the Beginning Balance amount once it has been saved, select Banking > Bank Account Register. Click on the underlined Transaction Amount. Enter the updated amount in the New Amount field and enter a Reason for the change. Click Save. If you are using universal navigation, click Accounting > Banking > Bank Account Register.

NOTE: Update the date range as needed in order to locate the balance entry.

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