Hi All,

I'm setting up BR 8.1B. We also use the following modules:
OE 8.1B, IC 8.1A, AR 8.1A, AP 8.1A, AL 8.1A, MC 8.1A.

There are a few places in AP where the GL Account for the banks are. The first is in the company profile on the integration tab in the bank acct/dept field. Right now we have this as our CDN$ bank account.

We also have 2 banks set up under Edit>Banks; a CDN$ and USD$ bank account (which are also in our GL of course).

Do I need to set up an AP clearing account in the GL for the USD$ and CDN$ bank accounts? If so, what do I change the bank acct/dept field in the company profile to (the US or CDN clearing acct)?

Both the US and CDN bank accounts are also set up in AR under the control accts.

Thanks!

Thanks!

You need to set up clearing accounts in GL, and it is likely better to set up separate GL clearing accounts for each of your currencies. But separate accounts is not an absolute requirement - as long as the clearing account accepts postings from both currencies. Your decision likely would lie in reporting necessities - and of course the account(s) would net to 0.00 when everything is posted correctly.

In Adagio Payables, the company profile GL Bank Account should be the clearing account in your home currency (CDN$). This field is only used as a default when creating new bank codes in AP. Each bank code as defined in AP should refer to the respective clearing accounts in the 'Bank acct/dept' field instead of the actual GL bank account.

In Adagio BankRec, the bank code should refer to the same GL clearing account on the Interface tab that you have for the integrated AP bank code. On the Series tab, enter the actual GL bank account.

Adagio Receivables control accounts work in the way. You would need a clearing account in GL that you would assign to the Control Account. Note that when you are integrated to BankRec, the appropriate field label changes to 'BankRec clearing'. In BankRec, there is a place in the bank code for the Receivables clearing account on the Interface tab.