We have a situation where we were maitaining Bank accounts for two Companies in one, now we have seperated both companies and would like to transfer balance of Bank account that belong to new company created in NAV.
appreciate if someone can advise hwta is teh procedure for doing this (What Entryise to be posted for company One (old) and company two (new).
tell us one thing, if you have maintained bank accounts for for two companies in a single company then what about the other income, expense, assets and liabilities? how did you manage it?
How you are identifying bank account for both the company ?
Since we are starting transactions from 1 Jan 2013 the other accounts are Zero (Income/Expenses) only we need to transfer Bank.
They are linked to different GL Accounts in CoA