Stage 4 - Bank Postings
You can post sales receipts, purchase payments, bank receipts
and other bank payments via the Bank menu:
- When a customer makes a payment on their account, use the
Sales Receipts window
to record details of sales receipts that relate to sales invoices.
You can record details of one sales receipt at a time or a group of
sales receipts (e.g. if you were posting a group of cheques from
different customers with one payslip). This will debit the
Bank
Account and credit the Customer Account/Debtors Control
Account.
- When you make a payment on an account - Use the
Purchase Payments
window to record details of bank payments that relate to purchase
invoices. For example, to record details of cheques posted to
suppliers for payments of goods or services. This will debit the
Supplier Account/Creditors Control Account and
credit the appropriate Bank Account.
- Use the Bank Payment window to record details
of bank payments which have not been recorded elsewhere (e.g. Bank
Charges). This will debit the Nominal
Account and credit the relevant Bank Account.
- Use the Bank Receipts window to record details
of bank receipts for which invoices have not been raised (e.g. Bank
Interest). This will debit the Bank and credit the relevant
Nominal Account.
Notes on
the Nominal Ledger
The majority of transactions that you will need to record will
be entered via the Sales and Purchase ledgers - these are
automatically posted to the nominal ledger.
The Nominal Ledger contains all the accounts other than those
for Customers and Suppliers, such as those for expenses, fixed
assets, capital and income etc. Therefore any additional
transactions between these accounts must be posted in the nominal
ledger using journal entries.
