Recording Bank Entries During Bank Reconciliation

When you are reconciling statements, you can click the Bank Entries button to open a modified Bank Entries screen that lets you enter service charges, bank interest income, or any other transactions from the bank statement that you have not already entered in your accounting system.

You must post bank entries before you can post the bank reconciliation. When you post bank entries, Bank Services creates a General Ledger transaction batch for the entries.

To add bank entries:

1. On the Reconciliation tab of the Reconcile Statements screen, click Bank Entry.
2. In the Entry Description field, enter a description for the bank entry.
3. In the Bank Entry Type field, specify whether the type of bank entry is a withdrawal or a deposit.
4. In the Payment Type field, specify the payment type.
5. In the Bank Entry Date field, specify the session date.
6. If you have a multicurrency system, specify the currency code in the Currency field.

7. If you have set up a distribution set for this type of transaction:

   1. In the Distribution Set field, specify the distribution set.
   2. Click the Create Distribution button to insert distribution lines as prescribed for the code.
   3. Edit the distribution lines in the table, as necessary.

8. If you did not enter a distribution set, or if you want to enter additional distribution lines, enter additional information for each line. More...

   1. Click the Add Line button. A new blank line will be generated in the detail table.

   2. Do one of the following:

      • Use the Distribution Code column to specify a distribution code.
      • Use the G/L Account column to specify the general ledger account.
   3. In the Amount column, enter the amount for the distribution line.

   4. If the bank entry is taxable:

      1. In the Taxable column, change the status to Yes.
      2. Click the Edit button to display the Taxes screen.
      3. In the Tax Group field, specify the tax group or type the tax group code.
      4. Edit the tax amounts, as necessary.
      5. When you have finished entering taxes for the distribution line, click Close.
   5. If this is a multicurrency entry and you want to view or override exchange rate information, click Rate, change the rate type, rate date, or exchange rate, as required, and then click Close.
   6. When you have finished adding distribution lines, click Add.
   7. Click Post.

Last published: 4/8/2016