How do I close a bank account?

Question asked by Alec MacKendrick 9 years ago

We've decided to close one of our bank accounts.

I know the value in the account is zero, but we have some outstanding receipts to collect up.

How can I force the value of the account to be zero on the 1st of May, but still allow those missing receipts to be logged in a little while?

Thanks

Alec

1 Reply

Hi Alec,

You can reduce the balance of your account to zero by creating a journal on the Tools>Journal menu, however I would advise to wait until you know what the missing receipts are. It might be best to speak to your account to get his opinion.

Once the balance is reduced to zero you can archive the bank account by heading to Money > Bank accounts and clicking on the pencil icon beside the bank account name (to the far right). Next click on the Archive button. This will hide the account from the dashboard and the Money > Bank accounts menu. Also you won't be able to post any more payments on this account.

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