• Registered: 07/23/2009
  • Posts: 14

Topic: Payment Transactions

This a brand new set of books

I entered the first payment tarnsactions aganst the bank account allocation the payments to the different gl accounts. I also entered deposits against a loan account

In the Trail Balance the Loanaccount shows a credit which is correct but it was not taken of the bank amount The bank Balance shows a credit of all the payments but didt not deduct the deposit made

Can  deposits only be made against debtors and not against a GL accounts

A aslo noticed when a transaction is void it appears on the Trailbalance as a debit and a credit it is correct but at tyhe same time confusing

Thx

Gerrit

  • joe
  • Administrator
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  • Registered: 03/15/2007
  • Posts: 5,107

Re: Payment Transactions

I am not sure I understand what you have been doing. We have no problems reported here. Can you be more specific. Exactly which transactions did you do in the bank payments and which transaction in the bank deposits. And where did your problem arise?

/Joe

  • Registered: 07/23/2009
  • Posts: 14

Re: Payment Transactions

Sure

I made Some payment transactions from the bank account to the different GL accounts .

I made a deposit into the bank This deposit is against a loan account which is a balance sheet item My understanding is that the bank balance should be the difference between the payments made and the deposits made irrespect if the deposit is against aloan account . The trail balance does not shows the bank as being the payments only and not the payments less the deposit made

Thx

Gerrit

  • joe
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  • Registered: 03/15/2007
  • Posts: 5,107

Re: Payment Transactions

You made a bank payment with a couple of transactions. Let us say $30 total. Result now bank -$30 (credit) and the transactions are in debit.
You made a bank deposit into the same account? Let us say $20 (debit) and you charged the loan account with $20 (credit).
The balances for these two actions are now: Your bank account should be -$10, your payment transactions $30 and your loan account -$20.
That is what I get when I try. And if I require a Trial Balance for this one day, I see my totals being correct.
If you do not get the same result, then there is something wrong with either of your bank accounts.

/Joe

  • Registered: 07/23/2009
  • Posts: 14

Re: Payment Transactions

Problem Solved

I redid the whole thing and it is right I proberly did something wrong sinse It is my first capture

Thx to Void Transaction

Thx

Gerrit