Bank accounts

What this does

Banking → Bank Accounts lists the shop's checking and savings accounts. Each one is paired with its own general-ledger asset account, created for you in the 1000–1099 range when you add the bank account. Every check, deposit, transfer, and approved inbox item posts to that GL account, and the register is simply that account's ledger.

Before you start

accounting.manage (Owner or General Manager). Have the bank's closing balance for the day before you start keeping books in LogMyRepair.app; that is your opening balance.

Steps

Add Bank Account. Account Name is what the app calls it everywhere (Chase Business Checking, say). Account Type is Checking or Savings. Bank Name, Account Number, and Routing Number are optional labels. Opening Balance is the balance as of the day you add the account.

Fill in the Account Number if you forward bank alert emails: the app routes an alert to the right shop and account by the last four digits in the email, and an account with no number can never receive one.

Edit Bank Account changes the name, bank, numbers, and Active flag. The type can't be changed after creation.

Deactivating hides the account from pickers and the Banking Overview. Its history stays; nothing is deleted. Use it for an account you've closed at the bank.

Manage Accounts on the Banking Overview is an older screen that also adds accounts, with a manual Linked GL Account picker. Prefer Banking → Bank Accounts, which links the GL account for you; an account created without a link can't post anything.

What happens in the books

Adding the account creates the GL asset account and, if the opening balance isn't zero, posts one journal entry: Dr the new bank account / Cr Opening Balance Equity, dated the day you added it. That entry shows in the register as the first line, so the register balance equals the bank from day one. The opening balance is posted once; editing the account later never re-posts it.

The Current Balance column is computed from posted entries, not stored, so it always agrees with the register and the trial balance.

Common problems

I typed the wrong opening balance. Open Ledger → Journal Entries, find the entry with source opening_balance for this account, and correct it with a reversing entry and a new one. Editing the account doesn't touch it.

The account was created but the balance is zero and I entered one. The account row saved, but the opening-balance posting failed (a period lock covering today, or a non-owner session). The screen shows the warning at the time; post the opening balance as a journal entry.

Two checking accounts, one bank alert keeps landing on the wrong one. Both have the same last four digits, or one has none. Fix the account numbers.