Task 2: Record uncleared withdrawals and deposits

You need to record uncleared transactions in such a way that the opening bank account balance is not affected. To do this, you need to post a debit and a credit of equal amounts for each transaction against the applicable bank account.

To enter uncleared withdrawals

1	Go to the Banking command centre and click Spend Money. The Spend Money window appears.

2	In the Account field, type or select the bank account you want to reconcile.

3	In the Cheque No. field, enter a reference number for the withdrawal.

4	In the Date field, type the first day of your conversion month. For example, if your conversion month is January 2010, enter 01/01/07.

5	In the Amount field, type the amount of the withdrawal.

6	In the Acct No field, type or select the bank account you want to reconcile. This must be the account entered in step 2 above.

7	In the VAT field, select the N-T tax code.

8	Enter details of the withdrawal in the Memo field.

9	Click Record.

10	Repeat from step 3 above for each uncleared withdrawal.

To enter uncleared deposits

1	Go to the Banking command centre and click Receive Money. The Receive Money window appears.

2	In the Deposit to Account field, type or select the bank account you want to reconcile.

3	In the Date field, type the first day of your conversion month. For example, if your conversion month is January 2010, enter 01/01/2010.

4	In the Amount Received field, type the amount of the deposit.

5	In the Acct No. field, type or select the bank account you want to reconcile. This must be the account entered in step 2 above.

6	In the VAT field, select the N-T tax code.

7	Enter details of the deposit in the Memo field.

8	Click Record.

9	Repeat from step 3 above for each uncleared deposit.

Related Topics

■	Task 3: Reconcile

■	Do an initial bank reconciliation