Zero Balance Accounts

The instructions in this article relate to Zero Balance Accounts, which can be located by searching or selecting Zero Balance Accounts from GLMax.

Zero Balance Accounts is a quick way to create a journal set to reduce an account code to a zero balance and post it to a nominated account code. This will automatically create a journal for the amount that is required to make the selected accounts a zero balance, then it will create another journal for the opposite amount in the selected Contra A/c.

  1. In the GLMax Company, search or select Zero Balance Accounts.
  2. Click on to Select Accounts and select the account codes to make 0.00.
  3. Click in the Contra A/c field and select another account code where the opposite journal will be taken up.
  4. Click on to Create Transaction (this creates the journal entries in Auto Reverse).
  5. Click on to Post Transactions.