Checking account balances

There are various places in AcctVantage where you will see account balances. Specifically, this article is about checking account balances. However, the Chart of Accounts section below is applicable to all G/L accounts.

Here are definitions for each of the account balances in the system:

Chart of Accounts

Posted Balance: This is the balance posted to the G/L as of the last day of the current fiscal period. Typically this would be the last day of the current month. However, it could be different if your company is using fiscal periods that don't coincide with calendar months.

Make Payments

  • Posted GL Account Balance: This is the balance posted to the G/L as of the last day of the current fiscal period. Typically this would be the last day of the current month. However, it could be different if your company is using fiscal periods that don't coincide with calendar months.
  • Current balance: This is the Last Reconciled Balance plus or minus any Unreconciled items in the Check Register.

Check Reconcile

  • Posted Balance: This is the balance posted to the G/L as of the last day of the current fiscal period. Typically this would be the last day of the current month. However, it could be different if your company is using fiscal periods that don't coincide with calendar months.
  • Real-Time balance: This is the Last Reconciled Balance plus or minus any Unreconciled items in the Check Register.

Quick Check

Real-time balance: This is the Last Reconciled Balance plus or minus any Unreconciled items in the Check Register.

System Setup

  • Current Account Balance: This is the Last Reconciled Balance plus or minus any Unreconciled items in the Check Register.
  • Last Statement Balance: This the Last Reconciled Balance (or in other words, this is the Current Balance without taking into account any Unreconciled Items in the Check Register).
  • Verify Balance: Verifies the Current Account Balance.