QUESTION:
How do you post Bank Charges / Other Debits with a Journal Entry?
PROCESS:
From JEs > Bank Charge/Other Debits
This journal entry may be used to post any fees (returned check charge, monthly service fee, deposit slips) that the bank may deduct from the school’s bank account. It may also be used to post other debits.
Enter a Transaction Date.
The default is the current statement ending date, but this can be changed to reflect the actual posting date on your bank statement
The transaction date cannot be outside of the fiscal year.
Enter the Amount of the bank charge or other debit.
Select the Post to Account from the drop down list.
If the debit amount needs to be split among Multiple Post To Accounts, click here for additional information.
Select the Offset Account from the drop down list.
Automatically inserts the default Cash (checking) asset account number to be used as an offset.
This account may be changed if posting interest for a savings or investment asset account.
Select an Event Code, if applicable.
Enter a Reference (description) for the entry.
Enter any Additional Comments/description for this JE not entered in the reference field. This information will only print on the proof sheet.
The Bank Name and Bank Account are automatically inserted using the info from the My Profile screen. The bank name and account number can be changed on this screen, if needed.
Click on the Preview button to display a proof sheet preview.
Verify – Is all the information correct on the JE proof sheet preview?
If Yes – click the Post and Generate Final Proof button.
If No – navigate to JE’S > Bank Charge/Other Debits again to clear the screen and start over.
When the final Journal Entry Proof Sheet displays, the JE is posted and the JE # is assigned.
Be sure to click on the printer icon to print the JE Proof Sheet for your records.
The JE Proof Sheet can be reprinted from the Review JE’s screen.
Note: This type of Journal Entry can be voided through the Void JE screen.
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