Banking

Banking module is used to perform all monetary transactions that involve bank accounts, including the following:

Manual and automatic creation of incoming and outgoing payments for various payment means

Manual and automatic performance of internal and external reconciliations
Postdated and cash deposits of checks and credit card vouchers
Batch and single check printing

Incoming Payments

Use this window to create a record each time your company receives a payment from a customer, vendor, or account. An incoming payment document can be created for the following payment means:

  • Cash
  • Check
  • Credit card
  • Bank transfer
  • Bill of exchange

When you add an incoming payment, an appropriate journal entry is created.

You can create an incoming payment to clear the debt of an open A/R invoice or an opening balance. You can also create an incoming payment for a down payment received before the goods or services were provided.

When you create an incoming payment to clear (fully or partially) a document or transaction, internal reconciliation takes place automatically.

Outgoing Payments

Use this window to create a record each time your company issues a payment to a customer, vendor or account.

The outgoing payment document can be created for the following payment means:

  • Cash
  • Check
  • Credit card
  • Bank transfer
  • Bill of exchange

Once the outgoing payment is added, an appropriate journal entry is created. When creating an outgoing payment to clear (fully or partially) a specific document or transaction, an internal reconciliation automatically takes place.