Fields and controls
Buttons
Create Distribution
If you specify a distribution set for the bank entry, you click this button to create the distribution details prescribed by the distribution set.
You can then edit the detail, or add detail lines for general ledger accounts that are not included in the distribution set.
Note: The Create Distribution button is available only if you specify a distribution set code for the bank entry.
Post
Click this button to post the current entry.
Tip: To post a range of bank entries, use the Post Entries screen. For more information, see Bank Post Entries Screen.
Bank Account
After you enter a bank code, this field displays the bank account number specified in the bank record.
If you use multicurrency accounting, the statement currency specified for the bank is displayed in the Currency field.
Bank Code
The bank code identifies the bank account and determines the general ledger accounts that Bank Services updates when you post a bank entry.
In multicurrency systems, the bank code also determines the currency for the transaction. (The Currency field displays the bank statement currency.)
For new bank entries, this field displays the default bank code specified on the Bank Options screen. The Bank Code Description field below displays the description for the bank. You can change the code until you add a detail for the entry. You cannot leave the bank code blank.
Bank Entry Date
The bank entry date is used as the date to post the bank entry to General Ledger. This date also determines the default year and period to which the entry is posted (and this information is displayed in the Period field to the right).
For new bank entries, this field displays the session date by default. However, you can change the bank entry date until you post the entry.
Bank Entry Total
This section displays the sum of the bank entry detail amounts.
For multicurrency banks, the total amount is displayed in the bank's source currency. For multicurrency companies, the total amount is also displayed in the functional currency.
Bank Entry Type
Specify whether the bank entry you are adding is a deposit or a withdrawal.
Currency
Specify the currency for the bank entry.
- The Currency field appears only in multicurrency entries, and only if the bank is multicurrency.
- If the currency you specify is different from the bank's statement currency, the Rate button becomes available.
- If the bank statement currency and your functional currency are the same, you can change the currency for the entry until you add a distribution detail.
Distribution Set
Distribution sets represent standard groups of general ledger accounts that you debit and credit during transaction entry.
You can select any distribution set that is defined in Bank Services. For more information, see Bank Distribution Sets Screen.
If there is no distribution set for the type of entry you are recording, leave the Distribution Set field blank, and specify distribution codes or G/L account numbers for individual details on the detail entry grid.
A description of the distribution set, if entered, is displayed below in the Distribution Set Description field.
Entry Description
Use this field to enter a description of the new entry number.
If a description already exists for the specified entry number, it appears here.
Entry Number
An entry number is automatically assigned to each new entry you add, and the number forms part of the audit trail for the bank entry.
To add a new entry, click the Create New button.
You can also use the Entry Number field to specify an existing entry if you want to view, edit, or delete it.
Note: If you delete an entry, you cannot reuse its number.
Payment Type
Select the method of payment (for example, Cash, Check or Credit Card).
Statement Currency
This field displays the statement currency specified for the bank in the Bank Services record. You cannot change it.
Note: This field appears only if you selected the Multicurrency option for your company in the Company Profile.
Detail Table
Amount
Enter the amount to debit or credit the account.
Comments
Enter a comment for the entry, up to 250 alphanumeric characters.
Description
Enter a description for the bank entry detail.
Distribution Code
Specify the distribution code that includes the general ledger account you want to update when you post the entry or transfer.
Distribution Code Description
This field displays the description for the specified distribution code.
G/L Account
If a distribution code is specified, this field displays the general ledger account associated with the distribution code. You can change the account, if necessary.
G/L Account Description
This field displays the description for the general ledger account specified in the G/L Account field.
Reference
Enter a reference for the bank entry detail (for example, a note that refers to the bank statement that you are reconciling).
Taxable
Specify whether or not an entry is taxable. You specify Yes or No by double-clicking the field.
Note: This field is available only for withdrawals.
For more information, see Entering Tax Information for Transaction Details.
Rate Override Table
If the bank entry is multicurrency, the options in the Rate Override table allow you to override exchange rate information specifications.
Currency Code
Specify the originating and destination currency codes in the From Bank Rate and To Bank Rate columns.
Currency Description
This field displays descriptions of the currency codes provided above.
Exchange Rate
This field displays the exchange rate occurring between source and functional currencies.
Rate Date
This field displays the date of the bank entry.
Rate Type
Specify the type of rate assigned to the entry, such as SP (daily spot rate) or AV (monthly average rate).
Rate Type Description
This field displays a description of the rate type provided above.
Overview
Use the Bank Entry screen to enter and post bank-related transactions that you do not enter elsewhere in your Sage 300 system, similar to the way you record G/L journal entries. This screen lets you record multiple deposit and withdrawal entries, and a number of distribution lines for each entry.
The types of transactions you typically enter using this screen are:
- Bank service charges
- Bank interest charges and interest revenue
- Mortgage and loan payments
Important! If you add a bank entry by clicking the Bank Entry button on the Reconcile Statements screen, you must click the Calculate button on the Reconcile Statements screen before saving the reconciliation. If you do not click Calculate, an error message appears.
If you do not use Accounts Receivable or Accounts Payable, you use the Bank Entry screen to record all deposits to or withdrawals from your bank accounts. Posting the entries creates journal entries for General Ledger, ensuring that the corresponding G/L account remains up to date.
The Bank Entry screen includes a detail table that lets you distribute amounts to general ledger accounts. If a default distribution code is specified in the Bank Options screen, a default distribution line appears for new entries.