Bank Ledger Entries


What does the Open field represent, I have checked help and it refers to whether there is a remaining amount to be applied but I am unsure of what this means, why would you need to apply Bank Legder Entries ?.


Hi Andrew,

You apply (close) the bank ledger entries when you reconcile with your bank account statement. This is done to make sure that your bank account balance in NAV is the same as the balance in the bank.

Most auditors would require that you have reconciled all your account statements, before they can approve your accounting data. And either you do it manually (by hand and paper) or electrically in NAV by importing the statement and reconcile here. I know what I choose… [:)]