Bank Book Transactions
In the Gravity software, users have the option to directly record cash transactions in a bank account. This feature is particularly useful for activities that do not pertain to customer invoices or vendor bills, such as miscellaneous cash receipts, service fees, or direct withdrawals.
Bank Book transactions are focused on individual bank accounts and do not facilitate transactions between different entities. If you need to perform a transaction involving a bank account across entities, such as transferring funds between entities and bank accounts, please utilize the standard Journal Entry form.
Select “New” from the Bank Book Entry Menu.
On the new Bank Book Entry there are 4 required fields on the header:
- Bank Account – Enter the bank account affected by the transaction.
- Transaction Type – Select the Transaction Type that represents the entry you are making. The transaction Type determines where the transaction will display on the Bank Reconciliation Screen. The Transaction Types are:
- Deposit
- Withdrawal
- Interest Earned
- Service Charge
- Other Withdrawal
- Other Addition
- Entry Date – This represents the date the transaction was entered into Gravity.
- Apply Date – This represents the General Ledger period the entry will apply to.
- Recurring – If you wish the entry to recur automatically as an unposted transaction you can enter a recurring cycle.
- Journal Description – Enter a description for the entry that will appear in reports.
Other fieilds on the Summary tab are for internal reference only. They do not appear in any of Gravity's standard reports.
Enter the distribution that represent the transaction lines. It is important that the transaction debits and credits are equal.
Once the transaction is complete and finalized, Save and Post the transaction to make it permanent. Only posted transactions will appear in the General Ledger.
