The types of transactions you typically enter using this form are:
- Bank service charges.
- Bank interest charges and interest revenue.
- Mortgage and loan payments.
If you do not use Accounts Receivable or Accounts Payable, you use the Bank Entry form 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.
You can open the Bank Entry form in any of the following ways:
- Choose the icon from the Bank Transactions folder.
- When reconciling statements using the Reconcile Statements form, click the Bank Entry button on the Reconcile tab.
The Bank Entry form includes a detail-entry grid that lets you distribute amounts to general ledger accounts (similar to transaction-entry forms in other Sage 300 ERP applications). If you specified a default distribution code in the Bank Options form, a default distribution line appears for new entries.
When reconciling statements using the Reconcile OFX form, if you select an OFX entry, and then click the Bank Entry button, a simplified Bank Entry form appears, displaying only the fields that you need to reconcile the selected entry. (Click here for help on the simplified Bank Entry form.)
Click the Field List button at the top of this topic for information about fields on the Bank Entry form.
Taxable Bank Entries
The Bank Entry form lets you open a separate Taxes form where you enter detail taxes for taxable withdrawals.