Overview
A bank account transaction is an official summary of financial transactions occurring within a given period for each bank account held by a financial company. The Bank Account Transaction includes all transactions initiated, including all credits and debits, and passive entries recorded in the Bank Reconciliation process, such as interest on balances.
Prerequisite
The Bank Account must exist for the company with which the given Bank Account Transaction record is added.
Navigation
Bank Account Transactions
Processing
From the Bank Account Transactions list view, select New Bank Account Transaction or Edit an existing transaction.
Fields
Name: Name of the Bank Account to be used.
Associated GL Transaction: This field carries a link to the GL Transaction (for now, only for AP Payments and Cash Receipts) made for this Bank Account Transaction.
Bank Account: The Bank Account for which this Bank Account Transaction is associated.
Transaction ID: The Transaction ID to be used for this Bank Account Transaction.
Sys Txn Amt – Bank Curr: The System Transaction Amount in the Bank's currency.
Bank Currency: The bank currency for this transaction.
Bank-Pay Rate: This is the exchange rate between the bank currency and the payment currency when the payment is made.
Check #: The check number to be processed against this transaction.
Modifies Trans ID#: If populated, this is the GLBANKTXN_TRANID of a modified transaction (voided or variance recorded against it).
Number value of Check Number: This field value is derived from 'Check #' if it is a number (>0); otherwise, it is ZERO.
Transaction Date: The date that this transaction was added.
Vendor Name: When the bank transaction is for an AP Payment, this field holds the vendor's name associated with the payment.
Home Curr Amt: This is the amount in the home currency.
Home Currency: The home currency for this transaction.
Pay Curr Amt: This is the amount in the payment currency.
Pay Curr: The payment currency for this transaction.
Transaction Type: Values for Transaction Type are shown below:
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A/P check
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A/P cash payment
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A/P EFT payment (general)
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A/P ACH payment
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A/P ACH/EFT fees
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A/P payment variance, single currency
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A/P payment variance, multi-currency
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A/P voided check
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A/P other voided payment
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A/R cash deposit
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A/R credit card payment
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A/R cash deposit variance, single currency
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A/R cash deposit variance, multi-currency
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A/R ACH/EFT payment reported by bank
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Bank fees/service charges
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Bank reports credit card deposit
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Bank reports credit card payment
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Transfer variances
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All other adjustments
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Transfers/adjustments made by JE
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Credit Card Processing Fee
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Interest Income
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Interest Expense
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Bank Card
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Accumulated Currency Rounding Adjustment
Uploaded Transaction: When checked, it indicates Uploaded Transaction.
Voided Check: When checked, the AP payment is voided, and the associated AP invoices that were paid are updated to reflect them as unpaid/outstanding.
NOTE Users cannot void AP payments for uploaded Bank Account Transactions.
Voiding Check Process Status: When the 'Voided Check' is checked, this field indicates the status of the Voiding Check Process.
Remittance Advice Check Stub: The Remittance Advice Check Stub for this transaction.
Transaction Comment: User-defined transaction comment for this transaction.
Selected for Reconciliation: When checked, it indicates the bank transaction is selected for reconciliation.
Reconciled: When checked, it indicates the transaction is reconciled.
NOTE This flag 'Reconciled' must be checked when the 'Transaction Type' is 'Accumulated Currency Rounding Adjustment'.
Reference: This field is derived from Check # if the Transaction Type is 'AP Check and is derived from Payment Reference if the Transaction Type is 'AR Cash Deposit'. Otherwise, it is derived from Transaction Comment.
Payment Record: The Payments Session Detail record is associated with the payment for this transaction.
Cash receipts deposit header: The Cash receipt record associated with this transaction.
Cash receipts payment record: The Cash receipt details record associated with this transaction.
Bank Card Transaction: Once a Bank Card transaction has been processed, this field is populated with a lookup to the associated Bank Card Transaction.
Bank Statement Cross-Reference: This is a link to the bank statement line to which this transaction has been reconciled.
Foreign Exchange Bank Rate Schedule: The Foreign Exchange Rate Schedule record is associated with this transaction to determine the Foreign to Bank exchange rates.
Foreign Exchange Home Rate Schedule: The Foreign Exchange Rate Schedule record is associated with this transaction to determine the Foreign to Home exchange rates.
Payment Reference: User-defined payment reference for this transaction.
Payment Selection Session Vendor: This field links to the Payment Selection Session Vendor that drove this Bank Account Transaction.
EFT Payment Number: This field carries the system-assigned EFT Payment Number for EFT Bank Transactions.
Bank EFT/ACH Number: This field carries the bank-assigned (user-entered) EFT or ACH Payment Number for the transaction.
NOTE This field value defaults from the field 'Bank EFT/ACH Number' of the Payment Selection Session Vendor associated with the Payment Selection Session.
Pay Currency Debit: Amount to be debited for this transaction in Payment Currency.
Pay Currency Credit: Amount to be credited for this transaction in Payment Currency.
Bank Currency Debit: Amount to be debited for this transaction in Bank Currency.
Bank Currency Credit: Amount to be credited for this transaction in Bank Currency.
Home Currency Debit: Amount to be debited for this transaction in Home Currency.
Home Currency Credit: Amount to be credited for this transaction in Home Currency.
Bank-Home Rate: This is the exchange rate between the Bank Currency and the Home Currency when the payment is made.
View Amount - Bank Currency: Displays the result of Bank Currency Debit minus Bank Currency Credit.
View Amount - Home Currency: Displays the result of Home Currency Debit minus Home Currency Credit.
View Amount - Pay Currency: Displays the result of Pay Currency Debit minus Pay Currency Credit.
Bank Reported Amt: The bank reported amount for this transaction.
Reversed By: This is a link to the Bank Account Transaction by which this Bank Account Transaction is reversed.
Associated to Bank Statement (by Date): This field identifies the Bank Statement to which this transaction was first associated with during a reconciliation process.
Reconciled to Bank Statement: This field identifies the Bank Statement in which this transaction was reconciled.
Origin of Transaction types:
The source of how the transaction types will be created is detailed below:
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A/P Check: Whenever the Payment Selection is processed for paying a vendor with Payment Type as Check, a new Bank Account Transaction is created with this transaction type.
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A/P Cash payment: Whenever the Payment Selection is processed for paying a vendor with Payment Type as Cash, a new Bank Account Transaction is created with this transaction type.
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A/P EFT payment (general): Whenever the Payment Selection is processed for paying a vendor with the Payment Type set as EFT, a new Bank Account Transaction is created with this transaction type.
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A/R cash deposit: Whenever the Cash Receipts are processed for customer payments, a new Bank Account Transaction is created with this transaction type.
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Transfers/adjustments made by JE: Whenever a Journal Entry is posted using the General Journal Workbench, new Bank Account Transactions are created for all the Journal Entry Details with this transaction type.
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Bank Card:
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A new Bank Account Transaction is created with this transaction type when the Payment Selection is processed for paying a vendor with the Payment Type as Bank Card.
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Whenever a transaction belonging to a bank account is posted using Bank Card Reconciliation, a new Bank Account Transaction is created with this transaction type.
SEE ALSO
