This procedure allows you to record a miscellaneous deposit transaction for a specific bank account. Miscellaneous deposit transactions are used to record deposits to your bank account that are not associated with accounts receivable or accounts payable activity. Examples of items that could be recorded using this option would include interest income from your bank, a tax refund, recording a loan to the company from an owner or creditor, etc.
When a miscellaneous deposit transaction is processed, a record for the deposit is created in the Bank file and a journal entry is created to record the deposit. The general ledger account that is used to record the deposit is based on a Gencode table that must be set up prior to using this option.
1. Verify that the Gencode table used by the Bank Management Miscellaneous Deposit option has been set up, and that it includes a record that is appropriate for the transaction being processed. The Bank Management Program uses the Gencode Table BANKCHGS to define the miscellaneous deposit types that can be processed in the program and where each of these deposits is recorded in the general ledger. You should make sure the correct deposit code has been created before trying to create a deposit record.
2. Select the Bank Management program from the Bank Operations Menu.
3. Use the Prompt Key (or the Prompt Button that is located next to the Account window) to select the bank account in which the deposit should be recorded. When you select the prompt option, the system displays the Accdes Selection List and it loads the list with the valid cash accounts that have been set up on your system. Once the list is displayed, you may select the appropriate account by highlighting it and pressing the select button. You may also manually key in the appropriate account number. Please Note: The Account used in the Bank file is the Autopost number for the selected general ledger cash account. When you select a valid account, the autopost number for the bank account is loaded into the Bank Account field and the general ledger account number and description for the account are loaded into the Name, Acct and Sub windows in the top section of the program.
4. Press the Insert Misc. Deposit Button. Once you have selected a valid cash account, the Bank Management program will display the bank transactions that have been processed for the selected account. At this point, you can create a new miscellaneous deposit transaction by pressing the appropriate button.
5. Enter the information about the misc. deposit into the prompt form. Once you have pressed the Insert Misc. Deposit Button, the system displays a prompt object.