Product Tips

Cashbook

Requirement: I need to enter an Accounts Payable Refund.

Solution: You cannot process a receipt to an Accounts Payable Vendor in Cashbook because Sage 300 Accounts Payable does not allow receipt entries.

These are the entries you must enter:

1. In Cashbook a Cashbook entry type receipt entry with the Accounts Payable Bank Clearing Account in the detail line.
   This will result in the bank account being debited and the Accounts Payable Bank Clearing account credited.
2. In Accounts Payable an Accounts Payable adjustment entry against the documents and in the detail line to the Accounts Payable Bank Clearing account.
   This will result in the Accounts Payable Control account being credited and the Accounts Payable Bank Clearing account being debited.

The nett result will be that the Bank Account is debited, the Accounts Payable Control account is credited, and the Accounts Payable Bank Clearing account is debited and credited resulting in a 0.00 balance.

Product Tips

RecXpress

Requirement: I need to generate bank transfer entries from my bank statement in RecXpress.

Solution: When you import the bank statement for the sending bank (where the bank transfer is transferred from) you must select a Bank Transfer Clearing account.

The bank account will then be credited, and the Bank Transfer Clearing account debited.

When you then import the bank statement for the receiving bank (the bank that the bank transfer is transferred to) you must also select the Bank Transfer Clearing account.

The bank account will then be debited, and the Bank Transfer Clearing account credited.

The nett result will be that the Bank Transfer Clearing account balances to 0.00.