Spend Money Overview - Spending money using the Bank Register

Spending money using 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 Spend Money transaction in the Bank Register, it is as if you had opened, entered and recorded the information in the Spend Money window.

The Spend 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 Spend Money window and enter more detailed information.

Whether you use the Bank Register or the Spend Money window to enter the transaction, it is the Spend 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 privileges.

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.

Warning: Spend Money transactions can't be used to close bills

If you've recorded orders or bills for vendors using the Purchases command center, in order to make payments to the orders or bills, you can enter the payment using the Pay Bill type in the Bank Register window or use the Pay Bills window or the Purchases Register window.

Spend Money transactions can't be used to close bills or make payments to orders.

While the Bank Register is quick and convenient, it is not appropriate for every Spend Money transaction. Keep this point in mind:

If a transaction uses more than one account, you cannot use the Bank Register alone. Click the Split button to open the Spend Money window. All the data already entered into the Bank Register window carries to the Spend Money window and the Bank Register Transaction Entry fields clear.

In the Spend Money window, follow the procedure described in To record a check in the Spend Money window; then click the Record button. You can enter additional Receive Money transactions in the Spend Money window or click the Cancel button to exit the window and return to the Bank Register.

Step by step
To spend money using the Bank Register