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Balancing Segment Value Not Matching with Legal Entity Used in GL Accounts for Bank Account [message #511127] Thu, 09 June 2011 12:21
asimnabi
Messages: 24
Registered: May 2010
Junior Member

Following are the two of many legal entities attached to the ledger:

Legal Entity: 100300 Canada Inc
Balancing Segment Value: 040

Legal Entity: 100900 Canada Inc
Balancing Segment Value: 999


We have a bank account is the system which is owned by legal entity "100300 Canada Inc"
Do we have to use the balancing segment value 040 (associated with owner legal entity) for the GL accounts defined for this bank account, or can we use other balancing segment value, say 999 (associated with some other legal entity), as shown below?

Cash: 040-101400
Cash Clearing: 040-204030
Bank Charges: 999-772000
Bank Errors: 999-772000

My understanding is that the balancing segment value must match with the legal entity owning the bank account, as this legal entity will be the owner of the reconciliation accounting entries as well.

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