The banking journal
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Revision as of 16:24, 14 February 2014 by Jamie Kingsbury-Smith (talk | contribs)
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".
- At "Entry mode", choose 'Cashbook'.
- The "Money in/out:" should be set to 'In'.
- Enter your bank nominal code into "Centre" on the highlighted line on the list.
- On the next line:
- In the "Centre" column, 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'.
- In the "Date" column, enter the date you are paying in the money.
- In the "Credit" column, enter the amount banked for each centre.
- In the "Comment" column, 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> to post the journal.
See also
- Reconciling your bank account
- How should I handle takings?
- What should I consider at month end?
- How to process a month end
- How do I Create a Nominal Code?
