Bank Account Beginning Balances

Summary: This article will provide an overview of how Bank Account Beginning Balances are created. 

Beginning Balance is a field within the bank account information screen. To access this screen and field, navigate to Association > Bank Accounts and select an existing bank account or add a new bank account that is being set up in Vantaca. 

For more information on the Association Bank Accounts, please see Association > Bank Accounts.

There are several scenarios in which a new bank account would be created in Vantaca, but the only scenario that requires a beginning balance is when the account already containing funds is being brought into Vantaca.

The Beginning Balance field in the screen above will be paired with the Beginning Date to create the bank register item called Beginning Balance. 

Example: If the September bank statement you had before transitioning into Vantaca for this account had an ending balance of $25,000 on April 30, 2020, you would create a starting balance of $25,000 in May 2020 for that specified amount of $25,000.