Manual Bank Transactions

The purpose of this procedure is to post a transaction to a bank account not automatically entered through one of the modules (i.e., A/P, T/R, P/R or G/L). In general, a manual transaction will need to be posted when one of the modules uses a bank account tied to a G/L number other than 4000-Cash, such as 4040-Investments.

Types of Manual Transactions

The main type of transaction occuring, where the bank account is not automatically updated, is transferring funds from one bank account to another through the A/P System or the Receivable System, where one bank account is a non-checking bank account.

Several examples of transactions requiring a manual entry are detailed below. These examples assume the checking and investment accounts mentioned are at different institutions. If the accounts are at the same bank, the transfer can be done through the G/L System with Journal Entries and a Funds Transfer Request letter and no manual entry would be needed.

• A transfer of funds from an investment account to a checking account by writing a check on the investment account and depositing it into the checking account. The checking account will be updated by the deposit through the Receivable System, but the investment account will not be. You will need to manually decrease the balance of the investment account.
• A transfer of funds from a checking account to an investment account by writing a check from the checking account and depositing it into the investment account. The checking account will be updated through the A/P System but the investment account will not be. You will need to manually increase the balance of the investment account.
• A journal entry was made using G/L account number assigned to a bank account without updating the transaction to the Bank Account System.

Posting Manual Transactions

Go to the Post Bank Account Transactions in the Bank Account System and input the requested information. The On-Line Help function will assist you with any questions.

Be sure to enter a positive or negative number in the Transaction Amount field, depending on whether you want to increase or decrease the account balance.

Review Account Balance

Once you have posted the transaction, display the bank account transactions for the adjusted account and ensure the account balance is now correct.

End Of Month Processing

Since it is all too easy to forget to process the manual portion of infrequent transactions, the system provides a safety feature in the balancing routine for the General Ledger System. If you have forgotten to process part of a transfer, the G/L Consolidation report will be out of balance by the amount of your transfer. Bank accounts can be corrected and processing resumed.