The banking journal

Summary

This article describes how to journal takings into the bank.

• Cash and cheque receipts should be journalled into the bank when you are filling in the paying in book.
• Credit Card takings should be posted into the bank using either the bank statement or the Z-read from the credit card machine. Decide which one you are going to use and stick to it.

More Information

Go to " Nominal Ledger Journal Entries Cash Book Entry".

• Enter your bank nominal code into "Centre:" and press <Enter>.
• The "Money In/Out:" should be set to 'I'.
• Enter the date you are paying in the money.
• Enter the centre to take the money from, e.g. for cash banked, type 'Z900'; for cheques banked, type 'Z901'; for credit card receipts, type 'Z902'.
• Enter the amount banked for each centre into the "Amount:".
• In "Comment", enter the paying-in slip reference number and the word "CASH" or "CHEQUES", or the date that the credit card receipts were actually taken.
• Press <Esc> and <Accept>.

See Also

• How should I handle takings?
• How do I Process a Month end

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Keywords AND Misspellings

Month, end, journals, accounting, vat, audits, daybook, bank