A little tip for Payments in the General Ledger

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   If you make a single payment which needs to be split between more than one General Ledger expense codes, you enter the payment on two or more lines in the General Payments screen.

When you then process your Bank reconciliation, there will be two or more credits on the screen to match up against a single entry on the Bank statement.

You may find yourself looking for a payment of $73.45 and not notice the two payments for $46.50 and $26.95

This isn�t too hard if you have used a cheque:  You simply enter the same cheque number on both lines and it will show against the two entries in the Bank rec.

If it is a credit card transaction, instead of a cheque number you probably just have �VISA� or the like in the ID field?

When I split a credit card transaction, I enter the ID as VISAP or MCARDP, so the P for Part tells me in the bank rec to look for more than one part for that transaction.

Edited by Susmita - 16-Jan-2007 at 05:25

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	If you make a single payment which needs to be split between more than one General Ledger expense codes, you enter the payment on two or more lines in the General Payments screen. When you then process your Bank reconciliation, there will be two or more credits on the screen to match up against a single entry on the Bank statement. You may find yourself looking for a payment of $73.45 and not notice the two payments for $46.50 and $26.95 This isn�t too hard if you have used a cheque: You simply enter the same cheque number on both lines and it will show against the two entries in the Bank rec. If it is a credit card transaction, instead of a cheque number you probably just have �VISA� or the like in the ID field? When I split a credit card transaction, I enter the ID as VISAP or MCARDP, so the P for Part tells me in the bank rec to look for more than one part for that transaction. Edited by Susmita - 16-Jan-2007 at 05:25