Receiving money in the Bank Register

The Bank Register allows you to quickly and efficiently enter all your transactions for asset accounts with checking privileges or liability accounts with credit card privilege from one window. You can also view a complete transaction history for a selected date range of each of these accounts and open the source window of each transaction for more detailed information.

Note: The Bank Register is not a transaction window

The Bank Register simply offers a streamlined method for recording sales. When you enter an Receive Money transaction in the Bank Register, it is as if you had opened, entered and recorded the information in the Receive Money window.

The Receive Money window has fields for more information than does the Bank Register. You can click the Split button in the Bank Register window to open the Receive Money window and enter more detailed information.

Whether you use the Bank Register or the Receive Money window to enter the transaction, it is the Receive Money window that displays when you open the recorded transaction from the Bank Register, Sales Register or Find Transactions windows.

The data entry area appears in the bottom portion of the window and the top portion displays the transactions in a scrollable list.

The list in the upper left corner of the Bank Register window displays only asset accounts with checking privileges and liability accounts with credit card privilege.

Note: Entering transactions in the13th period

To enter a transaction for the 13th period, enter an asterisk (*) in the Date field before you enter the transaction's actual date.

For example, if you want to place a transaction in the 13th period and want to indicate that the transaction was an adjustment for a transaction you originally entered on September 9, 2002, enter *9/9/02. (If you simply want to place a transaction in the 13th period and the actual date doesn't matter, you can enter whatever date you want following the asterisk). Regardless of the date you enter after the asterisk, that month's accounting records won't be affected by the entry.

For more information about entering transactions in the 13th period, see Entering transactions in the 13th period.

Warning: Receive Money transactions can't be used to close invoices

If you've recorded orders or invoices for customers using the Sales Command Center, in order to make payments to the orders or invoices, you can enter the payment using the Receive Payment type in the Bank Register window or use the Receive Payments window or the Sales Register window.

Receive Money transactions can't be used to close invoices or make payments to orders.

While the Bank Register is quick and convenient, it is not appropriate for every Receive Money transaction. Keep these points in mind:

• If a transaction uses more than one account, you cannot use the Bank Register alone. Click the Split button to open the Receive Money window. All the data already entered into the Bank Register window carries to the Receive Money window and the Bank Register Transaction Entry fields clear.
  
  In the Receive Money window, follow the procedure described in To record a receipt in the Receive Money window; then click the Record button. You can enter additional Receive Money transactions in the Receive Money window or click the Cancel button to exit the window and return to the Bank Register.
• There is no default account in the Bank Register. The account you select in this field is the account that is used. Even if you selected the option When I Receive Money, I Prefer to Group It with Other Undeposited Funds in the Banking view of the Preferences window, you must select Undeposited Funds here to apply the transaction to that account.
• There is no Payment Method field in the Bank Register. The payment method and details used are the ones you assigned to the customer in the Payment Details view - Customer of the Card Information window.
  
  If there is no default payment method assigned to the selected customer, no payment method is assigned to the transaction.
  
  If the method or details of this sale differ from the default information or there is no default information and it is important to you that the payment method or details are recorded, you should enter the sale in the Sales window.

Related topics
To create a recurring template
To record a recurring transaction