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9.8 BANK TRANSACTIONS
SELECT ACCOUNTS PAYABLE
THEN BANK TRANSACTIONS
This is the screen found in
ADVANTAGE
Salon Software and
Spa Software
allows
you topost transactions that are not checks. You can enter bank
service charges and other withdrawals or deposits from this screen.
Just select the bank account you want to enter a transaction for and
then select the type of transaction. You must enter at least one GL
account for the bank transaction. This account should be the off
setting account for the transaction. The system already knows the
account for the bank account. Deposits increase the amount in the bank
account while service charges decrease the amount.
Once you save the
transaction, the system will clear the screen so you can enter another
transaction. To delete a bank transaction, proceed to the Check
Register and delete the transaction from that portion of the program.
You cannot enter bank
transactions for a date before the last general ledger close date.
To Clarify: A
deposit will debit the asset account assigned to your bank account and
credit the off setting general ledger account you choose in the bank
transactions screen. A service charge will credit the asset account
assigned to your bank account and debit the off setting general ledger
account you choose in the bank transactions screen.
Accounting Specifics:
Please remember that a debit and credit are strictly accounting terms
that do not necessary mean increase or decrease. In double entry
accounting, which the modern world uses to run almost every business in
the world you need at least one debit and one credit to complete a
transaction.
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