How to record bank interest, bank fees, and online transfers

How to record other bank transactionShowHide

To record an other bank transaction:

  1. Navigate to Accounting > Banking.
  2. Click the name of the bank account you want to record the transaction for.
  3. From the transactions page, click Record other transaction.
  4. In the pop-up window, complete the form.
  5. Enter the date of the transaction, and the name of the property, association or company that you are entering the transaction for.
  6. The Bank account field will be pre-populated based on the bank account selected in step 2.
  7. In the Offsetting account field, select an account type.

    • If you are transferring money between bank accounts using an other bank transaction, select the bank account you are moving the money to as the offsetting account, then choose the option to Decrease bank account balance. This will remove money from the account listed in the Bank account field, and deposit money into the bank account listed in the Offsetting account field.
    • If you are making a bank deposit using an other bank transaction, the offsetting account you select should be the type of income or equity you're receiving. With this option, be sure to select Increase bank account balance.
    • If you are paying out funds using an other bank transaction, the offsetting account you select should be the type of expense or equity account you're sending money as. With this option, be sure to select Decrease bank account balance.

  8. When the form is complete, click Save.

 

If you need to edit or delete an other bank transaction, navigate to the bank account it was recorded in, then select the transaction to make changes. Other bank transactions are noted with OTHR in the check number field.

If an other bank transaction has been reconciled, you will need to undo the reconciliation before you are able to make changes or delete it.

 

Article #: 112282

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