The Bank Entry window lets you enter and post bank-related transactions that you do not enter elsewhere in your Sage HRMS Payroll system, similar to the way you record G/L journal entries.
The types of transactions you typically enter using this window are:
- Bank service charges.
- Bank interest charges and interest revenue.
- Mortgage and loan payments.
Use the Bank Entry window 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 window in any of the following ways:
- When reconciling statements using the Reconcile Statements window, click the button on the Reconcile tab.
- When reconciling statements using the Reconcile OFX window, select an OFX entry, and then click the button.
- When you open the window to reconcile an OFX entry, a simplified Bank Entry window displays, displaying only the fields that you need to reconcile the selected entry.
Otherwise, the Bank Entry window includes a detail-entry table that lets you distribute amounts to general ledger accounts (similar to transaction-entry windows in other Sage HRMS Payroll applications). If you specified a default distribution code in the Bank Options window, a default distribution line displays for new entries.