Bank and Deposit Adjustments window—Deposit Adjustment view

Use this window to enter and record adjustments to deposits, for example, to enter bank fees or interest.

The adjustment transaction will appear in the Prepare Bank Deposit window and the transaction will be automatically included in the bank deposit.

Note that a tax code is assigned against bank fee and interest transactions, as well as other transactions such as merchant fees and currency exchange fees. This means that all the tax allocated will be reflected in your BAS and tax code reports.

Field Descriptions

Account

This field displays your undeposited funds account.

Currency

This field displays the currency of the account displayed in the Account field.

This field appears only if you selected the I Deal in Multiple Currencies option in the System view of the Preferences window.

Exchange Rate

This field displays the exchange rate of the currency displayed in the Currency field.

This field appears only if you selected the I Deal in Multiple Currencies option in the System view of the Preferences window.

Tax Inclusive

This option indicates that service charges and interest earned are entered inclusive of tax in this window.

Fees and Cash Back section

Amount

Enter the amount of the fee or the amount you want to receive back from the deposit.

ID No.

The ID number assigned to the transaction begins with SC and includes the date you’ve entered in the Prepare Bank Deposit window.

If you want to enter an ID number here, consider leaving the SC prefix assigned to the number, so you can distinguish the transaction as a deposit adjustment.

Date

The date you entered in the Prepare Bank Deposit window appears automatically. Enter a different date if you wan to.

Expense Account

Enter the expense account you want to assign to the fee or cash back transaction.

Memo

Enter a description of the transaction. This description will appear on various AccountEdge reports, as well as journals.

Tax Code

Once the associated expense account is entered, the default tax code that was selected for that account in the Edit Accounts window, appears in this field. The rate of this tax code is used to calculate the amount of tax that appears in the Tax field.

You can change the tax code selection in this window and the new tax code will apply to this transaction only. The amount of tax will recalculate according to the new tax code rate.

Once you select a tax code, the tax amount based on the tax code’s rate appears. You can click the zoom arrow to open the Tax Information window, where you can view and change tax amounts assigned to transactions entered in this window.

If you click the zoom arrow, a message appears warning you that a change in the Tax values in the Tax Information window could affect BASlink calculations.

Job

If you want to, select a job to assign to the transaction.

Category

If you use category tracking, select a category to which to assign this transaction.

Adjustment for Excess Funds section

Amount

Enter the amount of the adjustment.

ID No.

The ID number assigned to the transaction begins with IE and includes the date you’ve entered in the Prepare Bank Deposit window.

If you wan to enter a different ID number here, consider leaving the IE prefix assigned to the number, so you can distinguish the transaction as a deposit adjustment transaction.

Date

The date entered on the Prepare Bank Deposit window appears automatically. Enter a different date if you want.

Income Account

Enter the income account you want to assign to the adjustment transaction.

Memo

Enter a description of the transaction. This description will appear on various AccountEdge reports, as well as journals.

Tax Code

Once the associated expense account is entered, the default tax code that was selected for that account in the Edit Accounts window, appears in this field. The rate of this tax code is used to calculate the amount of tax that appears in the Tax field.

You can change the tax code selection in this window and the new tax code will apply to this transaction only. The amount of tax will recalculate according to the new tax code rate.

Once you select a tax code, the tax amount based on the tax code’s rate appears. You can click the zoom arrow to open the Tax Information window, where you can view and change tax amounts assigned to transactions entered in this window.

If you click the zoom arrow, a message appears warning you that a change in the Tax values in the Tax Information window could affect BASlink calculations.

Job

If you want to, select a job to assign this transaction to.

Category

If you use category tracking, select a category to assign this transaction.

Cancel

Click to close the window without saving your changes.

Record

Click to record the information you’ve entered in this window. The window will close, and the Prepare Bank Deposit will reappear.

Tips for this window

Related Topics

■	Bank deposits

■	Reconciling your bank accounts