Daily Operations -- Record Electronic Payments

Click a link below to view the other sections in Receivables:

• Reconcile Bank Accounts
• Transfer Funds
• Voiding Checks and Receipts

Return to the Daily Operations page here.

Record Electronic Payments

Use Bank Accounts/Reconciliation/Adjustments Tab or General Ledger/General Journal

Use the bank reconciliation Adjustments tab to quickly and efficiently record miscellaneous transactions that appear on your back statement but have not been entered into 21st Century Accounting, such as electronic funds transfers, fees, and dividends. Adjustments entered in the Reconciliation window are posted to the bank account being reconciled and to the general ledger income or expense accounts that you select for the offsetting entries.

Do NOT enter bogus numbers in the Adjustments tab in bank reconciliation to try to resolve discrepancies in your reconciliation.

You enter electronic deposits, EFTs in, as positive adjustment amounts and electronic withdrawals, EFTs out, as negative amounts. You can enter electronic funds transfers as General Journal entries if you don't use the Reconciliation function.