Ensure that you go through your Bank Statement and check that all recurring transactions have been created before you extract a bankrec.
- From the Navigational panel, double click on Financials, click on Cash book then click on Bank Payments
Click on New in the ribbon line to create a new bank payment
- Make sure you enter the date that is on the Bank Statement into the Bank Payment (tab)
- Enter a Description as to why you are entering this bank payment (tab)
Enter/select the correct Tender (if the tender is cheque then fill in the cheque details as per print below) (tab)
- In the reference ensure that the Payment Reference is what appears on the Bank Statemnt (important if you are importing bank statement and auto matching)
- Tab down to Account site and select the correct GL Expense Account (you may have multiple gl accounts to dissect against)
- Enter a different Description if need be or leave the populated one from the header
- Enter the Value Inc Tax of the payment
Select the correct Tax Code (very important)
- The details for the payment have been inserted. Now you need to set up when and how many times this payments needs to reccur.
Click on the 'General' Tab within Inserting a Bank Payment
You need to know how often this payment reccurs and what type of reccurance rules best suits the transaction in question.
Eg if rent is to be paid every 15th day of every Month and the Value is also the same amount, then you would set up the recurrance rule on the payemnt to be as follows :
Automatic Posted; Every Month; Day of the Month; Until what day/mm/yy and click on Save. The task will run nightly and the payment will be generated on the 15th of every month with the date, gl account, value and status of posted.
Eg if rent is to be paid every 15th of every month and the value is always different every month, then you would set up the recurrance rule on the payment to be as follows:
Automatic UnPosted; Every Month; Day of the Month; Until what day/mm/yy and click on Save. The system will generate the payment and leave it with a status of Open so that you can make the appropriate changes to the bank payment before finalising it yourself.
| Automatic (Posted) | The payment will automatically be generated based on the reocurrance rules that have been set against the payment. The payment will have a status of "posted'. | Every Week - True Every Month- True | Day of Week
Day of Month | Until
Until | Save | When the Task runs overnight this payment will be generated and posted based on the rules assigned. |
|---|---|---|---|---|---|---|
| Automatic (unposted) | The payment will automatically be generated based on the reocurrance rules that have been set against the payment. The payment will remain Open until you check it yourself and make any appropriate changes and then you manually finalise it. | Every Week - True Every Month- True | Day of Week Day of Month | Until
Until | Save | When the Task runs overnight this payment will be generated and left Open based on the rules assigned. This payment needs to be manually Finalised. |
| Manual | The payment needs the operate to Generate the Reoccurance. Once generated you need to check it and post it. | N/A | N/A | Until | Save | The operator will need to Manually run this Bank Payment when needed. When a Recurrence type of 'Manual' is assigned to a Bank Payment, the action button of 'Generate Recurrence' is activated. |
| None | The payment is not set up to reoccur at all. | N/A | N/A | N/A | N/A | This is just a normal bank payment and will not generate any other bank payments. |
