For general ledger (G/L) accounts used for payments/deposits or for any G/L Accounts used as DT Accounts, a Bank Account should be set up and specified for that G/L Account.

Add a G/L Account

 

If the G/L Account does not already exist, you will first create the G/L Account. Navigate to Accounts in akoyaGO CRM.  Choose the Fund Management area, then select Accounts.  Select +New.

 

 

Enter the account information (Unique Account # and Account Name) and click Save & Close (Note: Asset account numbers should always be between 1000 and 1999). For more information on adding a new G/L Account, see the Overview of G/L Accounts and Adding a New G/L Account in akoyaGO KA.

 

After creating the G/L Account, you will need to disable direct posting to this account. In Business Central, navigate to Finance>Chart of Accounts and open the newly added G/L Account.

 

 

Disable Direct Posting to the G/L Account.

 

Add a Bank Account

 

In Business Central, select Cash Management, then choose Bank Accounts (Alternatively, use the magnifying glass to search for “Bank Accounts”).  Click +New.

 

 

In the General section, enter a No. (abbreviated name) and Name for the Bank Account.

 

 

Scroll to the Posting section (if needed, select “Show more” to expand the form). Drop down the Bank Acc. Posting Group menu and choose +New. 

 

 

Enter a Code (a short name, usually the account name) for the posting group, then enter the G/L Account that corresponds to the bank account you’ve created.  

 

 

NOTE: Each Bank Account must have a unique Posting Group. However, multiple banks can reference one bank posting group.  For example, there can be multiple investment managers (bank accounts) that post to one G/L Account (bank posting group).

 

For accounts that will be used for check printing, enter a value in the Last Check No. field. This will be the last check number used in your physical check stock.