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This transaction is only for Deposits that appear on a bank statement that have not been entered on any card of any type. Click New, Enter the date that is on Bank Statement, Tender,Bank Account, Description, Payment Reference, Select the correct General Ledger Account, Value and Tax code. Click on Finalise.

Transaction Type = CBKDEP

This transaction is only for Payments that appear on a bank statement that have not been entered on any card of any type. Click New, Enter the date that is on Bank Statement, Tender,Bank Account, Description, Payment Reference, Select the correct General Ledger Expense Account, Value and Tax code. Click on Finalise.

Transaction Type = CBKPAY

Your regular bank payments can be handled automatically as reccuring bank payments. Let's say you have to pay rent every month. You can just setup a reccuring payment and the system will create the required payment based upon the rules that have been set up on the recurring payment itself. The recurring payment that has been set up will stand for the master payment and the status will always be OPEN.  In addition, weekly payments can also be automated. Best practice is to have your bank perform a direct debit on a regular basis. Then use a bank reconciliation rule to import the payment into your system from the bank statement.

If you are not using automated bank reconciliation import or if you can't get the bank to setup a direct debit to handle your regular payment requirement, then you would use this feature to create the payment from within Readysell.

Bankings 

The Bankings Modules contains the movements of all Money in and out of  any General Ledger Account that is has been set up and flagged as a Bank Account.

It is a list of all Payments Received being from a Customer, Cash Sales, Cheques, Eftpos, Direct Deposits and Payments made to a Supplier along with all Banking Deposits, Banking Payments and Banking Transfers.
Basically any transaction that affects any Bank Account will flow through into the Bankings Module.

Please note, there is a flag on the genera ledger chart of accounts that stands for 'Is Bank'. 
If this flag is turned off at any point in time, then if you use a tender that is linked to this bank account, you will not see the transaction in the Banking file nor the bank reconciliation

No manual entries can be added through the 'Bankings' Module.

Performing A Bank Reconciliation 

Modifying the General Ledger Chart of Accounts 

The purpose of the Chart of Accounts is to provide a listing of the different accounts used by the organisaion according to their intended purpose. Readysell has a set Chart of Accounts, the Chart is reviewed by the Site as additonal Accounts may need to be modified/added. The AccountIDs are not to be changed as they are mandatory and used in various areas within Readysell. Adding and Modifying Accounts is the way to go.

Before you start trading with Readysell you must adjust the settings on your main bank account and setup any additional bank accounts! As the bank account details from your main bank account print on your sale invoices!

Adding/Removing Transaction Types from a General Ledger Chart of Account 

Readysell allows you to restrict certain transaction types from a General Ledger Account to reduce the chance of errors.

Setting up General Ledger Account Budgets 

General ledger budget figures let you measure actual performance against your expectations. The general ledger figures are of not much use on their own. At some point you have to compare your general ledger results against some expected standard. The budget figures allow you to record your expected results, your business plan, in advance. Then to monitor actual performance to see if you are meeting your goals.

All well run business enterprises have a business plan and compare results against the plan. Best practice is to enter general ledger budgets, at least on a few key accounts like revenue and expenses, at the start of the year. Then every month check your results against your expectation. If the business is not performing as expected, you will have time to do something about it before the end of the year.

Entering a Manual General Journal 

A Manual General Ledger Journal is only entered when you need to record a nonroutine transactions, such as depreciation, sale of an asset, etc. When inserting a general journal you must enter the account to be debited and the account to be credited and the amounts. Once a transaction is recorded in the general journal, the amounts are then posted to the appropriate accounts for that period.

If a source transaction has been posted to the wrong general ledger account or the value of the transaction is incorrect, a general ledger journal is not the way to go. You must go back to the source transaction and fix it from there.

Transaction Type = 'GLJMAN'