Balancing Account
The balancing account is useful if you are posting a batch of transactions to one account. The same account from different entities can be used as a distinct balancing account in a journal. Using a balancing account eliminates the need to enter each transaction separately.
For example, you could use the cash account as the balancing account when recording the cash disbursements for a period. Enter each transaction and Working Papers automatically uses the balancing account to balance the journal entry. The journal shows one credit to the bank account and then a listing of each individual disbursement. However, these bank account entries are available on a per transaction basis when reconciling the balancing account. >>How Do I?
