Bank Transactions

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Bank Transactions

Purpose:

This is a very useful form if the company decides to have an accurate record of the existing bank accounts. It allows you to withdraw money to adjust the account, to fill up the Petty Cash Account or any other miscellaneous reason. In addition to that, you can also deposit money that did not come from any of the regular cash receipts transactions. Moreover, you can transfer money among the existing Bank Accounts. This form also provides a method to create the Deposit Slips that wil be used in the Bank Reconciliation functions

Usage:

Create a New Withdrawal/Deposit:

1- Open the Bank Transactions form by clicking on Accounting/Bank Transactions

2- Press the “New” button to start a new transaction

3- Select Withdrawal or Deposit as the Transaction Type

4- Change the “Date” from the default value if needed

5- Enter a meaningful Reference Number. This value can be alphanumeric, but it must be unique in the system.

6- Press the Search Button to the right of the Bank Account Text Box. This action will open a lookup of all the company’s bank accounts.

7- Select the Bank Account you want to use in this transaction

8- Enter the amount of the transaction

9- Press the Search Button to the right of the “GL Account” Text Box. This action will the GL Accounts search window. If the transaction is a Withdraw you might want to select an Expense account or a Petty Cash Account. If the Transaction is a deposit you can select accounts like Sales, or Reimbursement, Owner’s Equity, etc.

10- Enter a brief Description about this transaction

11- Check the “Beginning Balance” checkbox if this is a deposit transaction if needed.

12- Press the Save Button

13- Press the Post button to finalize this transaction or you can close the form and leave if you want to be able to edit it at a later time

Create new Funds Transfer:

1- Open the Bank Transactions form by clicking on Accounting/Bank Transactions

2- Press the “New” button to start a new transaction

3- Select “Transfer” as the Transaction Type

4- Change the “Date” from the default value if needed

5- Enter a meaningful Reference Number. This value can be alphanumeric, but it must be unique in the system.

6- Press the Search Button to the right of the Bank Account Text Box. This action will open a lookup of all the company’s bank accounts.

7- Select the Bank Account where you want to take money from.

8- Enter the amount of the transfer

9- Press the Search Button to the right of the “Receipt Account” Text Box. This action will open a lookup of all the company’s bank accounts.

10- Select the Bank Account where you want to deposit the money to.

11- Enter a brief Description about this transaction.

12- Press the Save Button

13- Press the Post button to finalize this transaction or you can close the form and leave if you want to be able to edit it at a later time

Create a New Deposit Slip

1- Open the Bank Transactions form by clicking on Accounting/Bank Transactions

2- Press the “New” button to start a new transaction

3- Select “Deposit Slip” as the Transaction Type

4- Change the “Date” from the default value if needed

5- Enter a meaningful Reference Number. This value can be alphanumeric, but it must be unique in the system.

6- Press the Search Button to the right of the Bank Account Text Box. This action will open a lookup of all the company’s bank accounts.

7- Select the Bank Account where you want to take money from.

8- Press the Add to Deposit Slip Button to search for Cash Receipt transactions that have not been added to deposit slips yet

9- Select the Deposit Slips from the search Screen and bring them to the Bank Transactions Grid.

10- The Total Field will show the sum of all the Cash Receipt transactions in the Grid

11- Press the Save Button. This action will save your changes and it will prevent those Cash Receipts to be added to another Deposit Slip. This option of Bank Transactions does not have a posting button. The Deposit slips are used in the bank Reconciliation.

Edit Existing Bank Transactions

1- Open the Bank Transactions form by clicking on Accounting/Bank Transactions

2- Enter the Transaction Number in the “Search Doc#” field and press enter. This action will bring that transaction number to the form if it exists. If the transaction does not exist the search window will open so that you can search for the right transaction according to Document Number/Type/Reference, Date and Payment Method. You can also open this search screen by pressing the search button to the right of the Search Doc#” field.

3- Make Any changes to the Bank Transaction Record if it is not posted

4- Press the “Update” Button to save your changes.

5- Press the Post button to finalize this transaction (except Deposit Slips) or you can close the form and leave if you want to be able to edit it at a later time.

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