Problem
A bank account has thousands of records,
and the Reconcile command is becoming extremely slow.
Diagnosis
After several years, a bank account has become
unwieldy because it has tens of thousands of records.
The user wants to "start over" with a new account, so
Goldenseal accounting
software will run faster.
Solution
Follow these steps to "start over" with a new bank
account:
- Choose Checking from the Accounts menu.
- Use the Find command to locate the previous account.
- You might want to rename it to something like 'Citibank 2004-2010'
- Check the current balance. You might want to use the Reconcile command to update it.
- Click the New button.
- Enter a name for the new account. You might want to name it
something like 'Citibank 2011'.
- Enter the closing balance from the old account, into the Starting
Balance field.
- Enter the checkbooks you are still using,
and the next check number for each checkbook.
- Start using the new account.
- The next one or two bank statements
will have transactions in both accounts. Reconcile the older
account first,
then adjust the Starting Balance in the newer account,
if necessary.
- When the old account is completely reconciled,
you can change its status to Closed.
HINT-- You can 'start over' any time, although it's probably easiest
to do it at the beginning of a quarter, or a new year.
Comments
Entered 1/10/2011 by Dennis.
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