More in Financial accounting
Bank Entry is for anything that moves through the bank. You pick what kind of entry it is, and E-Lab knows which side is Dr. and which is Cr.
The right sides, every time
Pick "Deposit Cash Into Bank" and E-Lab takes it out of Cash and puts it in the bank. No Dr./Cr. to think about.
No cheque entered twice
The same cheque number for the same party and type is refused.
On this screen
- Date the entry date
- Select Bank only bank accounts are offered
- Entry the entry type; sets Dr. and Cr.
- Account Name the party, or Cash for deposits
- Amount the amount of the entry
- Cheque No. shown in the list with Cheque Date
- Update saves the changes (Save on a new entry)
The entry types
| Entry | Use it for | Posting |
|---|---|---|
| Cheque Issued | Paying a supplier by cheque | Party Dr., bank Cr. |
| Draft Issued | Paying by demand draft | Party Dr., bank Cr. with amount + charges |
| Cheque / Draft / RTGS Received | A hospital pays by cheque or RTGS | Party Cr., bank Dr. |
| Deposit Cash Into Bank | Depositing the day's cash | Cash Cr., bank Dr. |
| Withdraw Cash From Bank | Drawing cash for petty expenses | Cash Dr., bank Cr. |
| Bank Expenses | Bank charges, SMS charges | Expense Dr., bank Cr. |
| Online Transfer | NEFT or UPI to a supplier or staff | Party Dr., bank Cr. with amount + charges |
Steps
- Open the screen
Go to Financial Accounting > Bank Entry. - Set Date and Entry
Pick the entry type from the list above. - Select Bank
Only bank accounts are offered. F3 creates a new bank, F1 edits it. - Pick Account Name
The party. For Deposit and Withdraw, only cash accounts are offered. For Bank Expenses, only bank-expense accounts. - Type Amount
For Draft Issued and Online Transfer, Expenses also appears for the bank's charge. - Fill the cheque details
For Cheque Issued, Draft Issued, cheques received and Withdraw, type Cheque No. and Cheque Date. - Add Remarks and Save
Click Save. If the party keeps bill-by-bill balances, the adjust grid opens first, as in Quick Payment.
Example: on Saturday evening you deposit ₹20,000 of the week's cash in HDFC Bank. Entry Deposit Cash Into Bank, Select Bank HDFC Bank, Account Name Cash, Amount 20,000. Cash goes down by ₹20,000 and the bank goes up by the same.
The list and buttons
The list shows entries of the chosen bank, type and date: Name, Cheque No., Cheque Date, Amount, Expenses, Remarks. Double-click to change one. Delete on a row deletes it after a question. Tick several rows and press Delete to remove them together. The buttons are Save, Delete, Print, Attach, |<< << >> >>| (dates with entries) and Close.
Questions people ask
I paid a reagent supplier by cheque. Where?
Bank Entry, Cheque Issued, your bank, the supplier, Amount, Cheque No. and Date, Save.
How do I enter cash deposited in the bank?
Bank Entry, Deposit Cash Into Bank, your bank, Account Name Cash, Amount.
"Cheque No. already exist" appears.
That cheque is already entered for this party and type. Check the Bank Entry Register.
Is there a bank reconciliation screen?
No. Compare the bank's Ledger with your passbook by hand.