Add a recurring check for the following attributes see "Recurring checks":

  • For an account that will be debited, add in a line item with a positive value.
  • For an account that will be credited, add in a line item with a negative value.

For example, let's say you wanted to accrue for a large property tax bill at the end of the year by recognizing smaller tax amounts throughout the year. To do this the recurring check below debits, or increases, property tax expense and credits, or increases, anticipated property tax liability.

Notice how the total of the check is $0.

This recurring check will affect your bank register as a $0 line item. It will not affect your bank balance. This $0 line item should be reconciled each month. When you print out the bank reconciliation report, add a note to remind yourself and your auditors what the check is for.

 

Article #: 111179

 

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