Journal Entries in the Bank Reconciliation

You are here: 53. Introduction to General Ledger Training Manual > 53.7. Bank Reconciliation > 53.7.7. Journal Entries in the Bank Reconciliation

Journal Entries in the Bank Reconciliation

To post minor journal adjustments from within your Bank Reconciliation program:

Select GL TRANSACTIONS | BANK RECONCILIATION.

Micronet displays the Bank Reconciliation screen.

Select the transaction to be adjusted for in the Bank Reconciliation screen.
Select EDIT | JOURNAL ENTRY.

Micronet displays the Journal Entry screen.

Technical Tip

If the transaction selected is a consolidated amount forming more than one transaction, Micronet displays the Select Entry screen.

Select the transaction to adjust.

Select whether to post a Debit / Credit.

Micronet posts the bank account side of the GL journal. Select a debit or credit for the other side of the transaction. For example, to reduce an expense payment in the bank reconciliation, select Credit to reduce the expense account; Micronet automatically debits the Bank account for the same amount.

Select a GL Account to post the adjustment to.

Micronet automatically posts the same amount against the Bank account.

Enter the details of the adjustment, e.g. Description, Reference and Posting Amount.
Complete the following fields:

Field

Value

BAS Flag

Micronet displays the BAS flag entered against the selected expense account. However, you can change this if required to process the transaction with an alternative BAS section, e.g. to G14- No GST.

GST Posting

Select GST Input Credit account or GST Collected account to have 1/11 GST calculated on the transaction.

The other side of this journal entry is automatically posted to the Bank Account being reconciled.

Select the Ok button.