To enter bank transactions:

1. Select CM, Transactions, Enter Bank Transactions
2. In the 'Transaction Type' list select one of the following types and enter the transaction

• Deposits
  Deposit type bank transactions increase (debit) the cash account and decrease (credit) the distribution account. Use deposit types for non customer payments (for example, vendor refunds, tax refund) or entering missing deposits when reconciling a cash account such as a journal entry that was posted to your cash account). NOTE: For your distribution use positive numbers to credit the GL account and negative numbers to debit the GL account. For example if you sold some items that you had on consignment and the total amount of money you received was for 100.00 the amount of the deposit would be 100.00, however, the distribution is 150.00 to consignment and -50.00 you paid for commission. The distribution would be a positive 150.00 to the consignment account and a negative -50.00 for the commission GL account.
• Charge
  Charge type bank transactions decrease (credit) the cash account and increase (debit) the distribution account. NOTE: For your distribution use positive numbers to debit the GL account and negative numbers to credit the GL account. For example you are a consignment company and you sold some items for 150.00 of which you are keeping 50.00 as a commission. You need to record the charge that you paid to the consignee less the commission. Enter 100.00 for the amount of the charge. The distribution is positive 150.00 to Consignment and a negative amount -50.00 to commissions. The posting would be a debit of 150.00 to the consignment account, a credit of 50.00 to your commission account and credit of 100.00 to your cash account.
  Use charge types for the following:
  • Enter charges from bank statement such as monthly bank charges
  • Post credit card fees
  • Record missing charges when reconciling a cash account. For example journal entries that posted a credit to your cash account)
• Credit
  Credit type bank transactions increase (debit) the cash account and decrease (credit) the distribution account. Use credit types for the following:
  • Post debits to the cash account such as bank interest earned
  • Record missing deposits when reconciling a cash account such as a journal entry that posted to your general ledger as a debit to the cash account
• Withdrawal
  Withdrawal type bank transactions affect the cash account in the same way as a charge type transaction. A withdrawal is used to post bank transactions where cash is withdrawn from the bank account (For example ATM withdrawals).
• Transfer
  Transfer type bank transactions affect two cash accounts by decreasing (from) one cash account and increasing (to) a second cash account. The first cash account listed (the from account) a charge is posted. For the To cash account a deposit is posted. Transfer type bank transactions are used to move monies between cash accounts. These transactions can include transfer from checking to savings, regular checking to payroll checking or regular checking to petty cash.
  Note: If there is only one cash account listed in Cash Management, Accounts, Maintain cash accounts, the Transfer type bank transaction will not show in the list.