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Adding Interest
You can add interest to be included in the reconciliation
for a bank account. Use the General tab to add or edit general information
for the interest. Use the Detail tab to enter the offsetting entry.
Note
If you add interest in error, you cannot delete the transaction.
You must add a reversing entry to correct the error.
General Tab Fields
Note
A red asterisk (*) indicates
a required field or selection.
Deposit # *
The system-generated deposit number, which comes
from the Next Deposit # field on the General
Tab for Bank Accounts setup. The word New
appears when you are adding. This number appears on lists and in reports.
Date
The reconciliation date. This field is not editable.
Amount *
Enter the amount for the deposit.
Description *
The display-only description for the deposit.
Cancel
Click to exit without saving changes.
Save
Click to save your changes.
Detail Tab Fields
Sequence Number Field
The first column, which is not labeled, is a display-only,
system-generated sequential line number.
Bank Account
The display-only bank account identification.
EntityCompany
ID
The display-only entitycompany
identification.
GL Account
The debit is a display-only general ledger account
identification that is associated with the entitycompany
cash account.
For the credit, use the
icon
to displays the
and select the offsetting income account. Once you save the transaction,
the system approves and posts immediately to the period that contains
the bank statement date. The transaction is not included in a batch or
journal entry. You must select the transaction to have it included in
the reconciliation.
If you prefer having these transactions
contained in a batch or journal entry, add them using the batch and journal
entry tabs just as you would any other transaction. Be sure to approve
the batch. When you return to the reconciliation process, these items
appear as unchecked transactions in the Bank Reconciliation Tab .
The items are also accounted for in the GL Acct Balance—the general
ledger cash account balance field in the .
Description
Type a description of the interest being added.
Amount
Type the amount of the interest being added. The
amount defaults based on your entry in the General Tab.
Delete
Click the Delete icon
to delete an interest entry. Note that you are deleting
one line item detail for this interest transaction but not the entire
transaction.
Debit Total
The system-generated debit total for the interest
being added. The entry is always a debit to the cash account for this
bank. To save entries, the debit and credit totals must match.
Credit Total
The system-generated credit total for the interest
being added. To save entries, the debit and credit totals must match.
Cancel
Click to exit without saving changes.
Save
Click to save changes.
To Add Interest
- From the Bank Reconciliation
Details tab, click Add Interest.
- On the General tab, select
the date of the interest and enter the amount. The system creates an entry
for the cash account on the Detail Tab.
- Select the Detail Tab,
select the offsetting income account and enter the amount.
- Click Save.
See Also
Bank
Reconciliation Grid
Bank
Reconciliation Detail
Adding Service Charges
Adding
Adjustments
Bank
Reconciliation Overview
Bank Reconciliation Troubleshooting