Checking Accounts

How many Checking accounts should I create?

Goldenseal accounting software allows you to create as many checking accounts as you need.

In general, you should create a separate Checking account for each account that has its own statement balance.

For example, if you have a "consolidated" account that shows three different balances from which you can write checks, then create three different Checking accounts-- one for each subaccount that has its own balance.

If you have one account that you use for different things, you do not need to create multiple accounts. For example, if you have a single account balance but use it for ATM's, debit cards, checks and automatic transfers, you still do not need to create more than one account. Likewise, you can use a single bank account even if it pays for payroll, vendors, and a mixture of any other types of expenses.

HINT-- You can use the Conditions field to identify the details for each bank payment or bank deposit.

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