Transactions

Use the Transactions function to enter deposits, disbursements (checks and withdrawals), adjustments (for example, finance charges and service charges to your bank accounts), and transfers that have not been created through other applications. Once a transaction has been posted, you can tag it as cleared through the Cleared Transactions function.

Before you use the Transactions functions, use the Setup and Maintenance functions to set up bank accounts, recurring adjustments and review bank activity. Use the Master Lists functions to verify bank accounts and recurring adjustments.

You must enter transactions in two stages. First enter the bank account entry. Then enter the distribution or offsetting entries.

If Accounts Receivable is interfaced with Bank Reconciliation, enter deposits through that application.

If Accounts Payable is interfaced with Bank Reconciliation, enter disbursements through that application.

If Payroll is interfaced with Bank Reconciliation, enter payroll transactions and post checks through that application.

You must offset transaction entries in the Distribution section. If you attempt to exit from an unbalanced transaction, a message appears and you must return to the Distribution section to balance the transaction amount or the transaction amount and distribution amounts are set to zero.

Command buttons on the toolbar:

Select To
Import Open the Import Mapped Data function on the System Manager menu.
  • Click the New button to open a blank record. The system will generate a new transaction number if this is a new transaction.
  • Select a bank against which to apply the transaction from the Bank Account ID drop-down list.
  • If you are using the multicurrency feature, and the bank account you select is in a currency other than the base currency, mark the Base Currency check box to display amounts in the company’s base currency. Clear the box to display amounts in the selected currencies.

Totals fields at the bottom of the screen:

Field Description
Total Credit This view-only field displays the total credit amount for the transactions.
Total Debit This view-only field displays the total debit amount for the transactions.
Bal Credit This view-only field displays the credit balance amount for the transactions.
Bal Debit This view-only field displays the debit balance amount for the transactions.

Deposits must have both the debit and the credit side of the transaction accounted for. You can enter more than one offsetting entry to counterbalance the deposit. For example, if you enter a deposit of 100 dollars, 40 of it may be charged against one account and 60 against another.

When you select a credit card type bank, this tab label will change to Payments and the Deposit No field label will be changed to Payment No.

  1. The transaction number is generated by the system and displayed in the Trans No field.
  2. Enter the slip number of the deposit in the Deposit No field (payment if credit card bank).
  3. Accept or edit the transaction date in the Trans Date field.
  4. Enter the Pd and Year for the deposit, or accept the default.
  5. Enter the Reference or use the default deposit reference. References post to the GL Journal and provide another way of searching for information in General Ledger.
    Note: You can change the default deposit reference using the Business Rules function.
  6. Enter a Description of the deposit or use the default deposit code description.
    Note: You can change the default deposit description using the Business Rules function.
  7. The Currency ID field is a view-only field if you use multicurrency.
  8. Use the Exch Rate field to select, if necessary, an exchange rate if you use multicurrency.
    Note: If the bank account uses the same base currency, you cannot select a different exchange rate.
  9. Enter the deposit Amount.
  10. If necessary, use the GL Offset Account field to split, if necessary, the offsetting amount between two or more accounts for the deposit.
  11. To view the detail entries, click the + symbol next to the Trans No. Two detail records will be displayed. The first line is the Debit and you are not allowed to edit this record. The second record is the offsetting Credit.
    • Use the description from the Description field above, or enter the distribution deposit description.
    • Use the reference from the Reference field above, or enter the distribution deposit reference.
    • The Credit amount is automatically populated with the Debit amount that was entered. You are allowed to edit this amount and then enter another record to a different GL Account if needed.
    • The Total Credit is displayed.
    • The Total Debit is displayed.
    • In the Bal Credit field the balance will show if debits are greater than credits.
    • In the Bal Debit field the balance will show if credits are greater than debits.
  12. Click the Save button on the toolbar to save your changes.

Disbursements must have both the debit and the credit side of the transaction accounted for. You can enter more than one offsetting entry to counterbalance the disbursement. For example, if you enter a disbursement of 100 dollars, 40 of it may be charged against one account and 60 against another.

When you select a credit card type bank, this tab label will change to Charges and the Check No field label will be changed to Charge No.

  1. The transaction number is generated by the system and displayed in the Trans No field.
  2. Enter the disbursement check number in the Payment No field.
  3. Enter the transaction date in the Trans Date field.
  4. Enter the Pd and Year for the disbursement, or accept the default.
  5. Enter the Reference for the distribution disbursement or use the default reference. References post to the GL Journal and provide another way of searching for information in General Ledger.
    Note: You can change the default disbursement reference using the Business Rules function.
  6. Enter a Description for the disbursement or use the default description.
    Note: You can change the default disbursement description using the Business Rules function.
  7. Mark the Void check box to void the check. If selected, the bank account amount and deposit amount are set to zero.
  8. The Currency ID field is a view-only field if you use multicurrency.
  9. Use the Exch Rate field to select, if necessary, an exchange rate if you use multicurrency.
    Note: If the bank account uses the same base currency, you cannot select a different exchange rate.
  10. Enter the disbursement Amount.
  11. If necessary, use the GL Offset Account field to split, if necessary, the offsetting amount between two or more accounts for the disbursement.
  12. To view the detail entries, click the + symbol next to the Trans No. Two detail records will be displayed. The first line is the Debit and you are not allowed to edit this record. The second record is the offsetting Credit.
    • Use the description from the Description field above, or enter the distribution deposit description.
    • Use the reference from the Reference field above, or enter the distribution deposit reference.
    • The Credit amount is automatically populated with the Debit amount that was entered. You are allowed to edit this amount and then enter another record to a different GL Account if needed. Enter the Debit amount If the transaction you are offsetting is a credit, the amount of the transaction remaining to be counterbalanced is displayed.

      Enter the amount of the offsetting debits related to the transaction.

    • The Total Credit is displayed.
    • The Total Debit is displayed.
    • In the Bal Credit field the balance will show if debits are greater than credits.
    • In the Bal Debit field the balance will show if credits are greater than debits.
  13. Click the Save button on the toolbar to save your changes.

Adjustments must have both the debit and the credit side of the transaction accounted for. You can enter more than one offsetting entry to counterbalance the adjustment. For example, if you enter an adjustment of 100 dollars, 40 of it may be charged against one account and 60 against another.

  1. The transaction number is generated by the system and displayed in the Trans No field.
  2. Select a recurring adjustment ID or enter an adjustment check number in the Payment No field.
  3. Enter the transaction date in the Trans Date field.
  4. Enter the Pd and Year for the adjustment, or accept the default.
  5. Enter the Reference for the adjustment or use the default adjustment reference. References post to the GL Journal and provide another way of searching for information in General Ledger.
    Note: You can change the default adjustment reference using the Business Rules function. If you are entering a recurring adjustment, the reference you entered for the recurring adjustment is displayed; otherwise, the BR adjustment reference set up in the Business Rules function is displayed.
  6. Enter a Description for the adjustment or use the default description. Descriptions are posted to the GL Journal and provide another way of searching for information in General Ledger.
    Note: You can change the default adjustment description using the Business Rules function. If you are entering a recurring adjustment, the description you entered for the recurring adjustment is displayed; otherwise, the BR adjustment description set up in the Business Rules function is displayed.
  7. The Currency ID field is a view-only field if you use multicurrency.
  8. Use the Exch Rate field to select, if necessary, an exchange rate if you use multicurrency.
    Note: If the bank account uses the same base currency, you cannot select a different exchange rate.
  9. Enter the adjustment Amount:
    • If entering a recurring adjustment, use the amount entered in Setup defaults. The system assumes that the entry to the bank account is a debit.
    • If entering a bank charge, enter the amount as a negative to credit the bank account.
  10. If necessary, use the GL Offset Account field to split, if necessary, the offsetting amount between two or more accounts for the adjustment.
  11. To view the detail entries, click the + symbol next to the Trans No. Two detail records will be displayed. The first line is the Debit and you are not allowed to edit this record. The second record is the offsetting Credit.
    • Use the description from the Description field above, or enter the adjustment description.
    • Use the reference from the Reference field above, or enter the adjustment reference.
    • Enter a Debit Amount if the transaction you are offsetting is a credit, the amount of the transaction remaining to be counterbalanced is displayed.

      Enter the amount of the offsetting debits related to the transaction.

    • Enter a Credit Amount if the transaction you are offsetting is a debit, the amount of the transaction remaining to be counterbalanced is displayed.

      Enter the amount of the offsetting credits related to the transaction.

    • The Total Credit is displayed.
    • The Total Debit is displayed.
    • In the Bal Credit field the balance will show if debits are greater than credits.
    • In the Bal Debit field the balance will show if credits are greater than debits.
  12. Click the Save button on the toolbar to save your changes.

Transfers from bank accounts must be balanced with transfers to bank accounts. You can enter more than one offsetting entry to counterbalance the transfer. For example, if you enter a transfer of 100 dollars, 40 of it may be transferred to one bank account and 60 may be transferred to another.

  1. The transaction number is generated by the system and displayed in the Trans No field.
  2. Enter the transaction date in the Trans Date field.
  3. Enter the Pd and Year for the transfer, or accept the default.
  4. Enter the Reference for the transfer or use the default transfer reference. References post to the GL Journal and provide another way of searching for information in General Ledger.
    Note: You can change the default transfer reference using the Business Rules function.
  5. Enter a Description for the transfer or use the default description.
    Note: You can change the default transfer description using the Business Rules function.
  6. The Currency ID field is a view-only field if you use multicurrency.
  7. Use the Exch Rate field to select, if necessary, an exchange rate if you use multicurrency.
    Note: If the bank account uses the same base currency, you cannot select a different exchange rate.
  8. Enter the transfer Amount.
  9. Select the bank account ID to which you want to transfer money in the To Bank field.
  10. Enter the Reference for the transfer or use the earlier transfer reference. The BR transfer to reference is set up in the Business Rules function.
    Note: References post to the GL Journal and provide another way of searching for information in General Ledger.
  11. Enter a Description for the transfer or use the earlier description. The BR transfer to description is set up in the Business Rules function
  12. Click the Save button on the toolbar to save your changes.
  1. Select a bank account from the Bank Account ID field.
  2. Select a transaction to delete from the Trans No field.
  3. Click the Delete button, on the toolbar, to delete the selected transaction.
  4. Click Yes at the "Are you sure you want to delete selected record(s)?" prompt.