This article covers sample situations in which bank statement posting defaults can be used to generate automatic entries for bank statements. The entry description must always be entered for posting defaults. Additional outlines can be set for the posting rules, for example, concerning recipient/payer, message or bank account. If the company has not created any posting rules of its own, the entries are made according to Procountor defaults.
Posting rules can be observed and edited by choosing Management > Accounting info > Posting defaults > Bank statement posting defaults.
Posting by entry description
- Entry descriptions can be used to post transactions from bank statements on specific accounts other than the default. Saving the posting rules is begun by checking the transaction’s entry explanation from the bank statement.
- Bank service fees, for example, can be posted on their own account according to the entry explanation.
- A new posting rule can be created in Posting defaults by clicking on the Add row Next, the rule can be named, the entry description can be selected, and it can be chosen weather the rule applies for withdrawals or deposits. Then, by clicking the Change bookkeeping account button the accounting account can be selected from the Account list. If the transactions are wanted to be posted in the same way regardless of bank account, a bank account should not be selected from the Account number menu.
The following entries are generated according to the posting rule and bank statement transaction:
|
Account |
Accounting value |
|
1910 Cash in bank |
- 15.00 |
|
8451 Banking fees |
15.00 |
Information Search from the message
- Bank statement transactions can be posted according to information contained in the message. Information such as total sums can be retrieved from the message. Such bank statement transactions include settlements from credit card companies, for which the receivable and commission should be entered on different accounts than the settled sum.
- For settlements from credit card companies, check the bank statement to see with which entry explanation and name the transaction is entered on the statement, and copy the message from the Additional information field. The message contained in the Additional information field of bank statements is different for each credit card company. The most common messages are listed below. Always, check all information from your company’s bank statement, however, and save the rules into the program accordingly.
American Express
- A new posting rule can be created in Posting defaults by clicking on the Add row Next, the rule can be named, the entry description can be selected, and it can be chosen weather the rule applies for withdrawals or deposits. Then, by clicking the Change bookkeeping account button the accounting account can be selected from the Account list. If the transactions are wanted to be posted in the same way regardless of bank account, a bank account should not be selected from the Account number menu.
- Next, clicking on the Posting by message button opens a view for saving the information by which the transaction will be retrieved. Enter the information in the Search information in the message, rules for transactions function’s fields, as sum data is processed from the message.
- Thus, from the message copied from the bank statement, 100.00 -3.00 97.00 1234567890 123000005432, the original receivable of EUR 100.00 and the commission of EUR 3.00 deducted by the credit card company will be processed separately.
- The message includes spaces, which indicate different columns. Enter each rule on its own row.
- The first column of the message is wanted to be processed, so enter 1 in the Column field. From the Change bookkeeping account section, select the account on which the sum will be posted. The Change the sign of selection will reverse the sign of the sum to be posted from the message, i.e. a credit entry should be made in this case, since the message contains a debit entry.
- The sum is also wanted to be processed in the second column of the message, so enter 2 in the second Column field. From the Change bookkeeping account section, select the account on which the sum will be posted. The Change the sign of selection will reverse the sign of the sum to be posted from the message, i.e. a debit entry should be made in this case, since the message contains a credit entry.
- Check the posting’s functionality by pasting the message 100.00 -3.00 97.00 1234567890 123000005432 into the Check the functioning of the posting by pasting a sample message from the bank statement here field and click Check. After clicking Check, Procountor shows how the example transaction would be posted on the bank statement’s accounting page. When posting rules are in order, click Continue.
The following entries are generated according to the posting rule and bank statement transaction:
|
Account |
Accounting value |
|
1910 Cash in bank |
97.00 |
|
8001 Credit card commissions |
3.00 |
|
1701 Credit card receivables 1 |
-100.00 |
Diners Club
- A new posting rule can be created in Posting defaults by clicking on the Add row Next, the rule can be named, the entry description can be selected, and it can be chosen weather the rule applies for withdrawals or deposits. Then, by clicking the Change bookkeeping account button the accounting account can be selected from the Account list. If the transactions are wanted to be posted in the same way regardless of bank account, a bank account should not be selected from the Account number menu.
- Next, clicking on the Posting by message button opens a view for saving the information by which the transaction will be retrieved. Enter the information in the Search information in the message, rules for transactions function’s fields, as sum data is processed from the message.
- Thus, from the message copied from the bank statement, 12312312312 0000123/1231230500.00 15.00- 485.00 DEMO OY, the original receivable of EUR 500.00 and the commission of EUR 15.00 deducted by the credit card company will be processed separately.
- The message includes spaces, which indicate different columns. Enter each rule on its own row. The message includes several characters before the sums to be processed.
- The sum is wanted to be processed in the first column of the message, so the number of characters to be skipped (26) must first be entered the in the Number of bypass field, and the number 1 in the Column field. From the Change bookkeeping account section, select the account on which the sum will be posted. The Change the sign of selection will reverse the sign of the sum to be posted from the message, i.e. a credit entry should be made in this case, since the message contains a debit entry.
- The sum is also be processed in the second column of the message, so first the number of characters to be skipped (26) must be entered in the Number of bypass field, and the number 2 in the second Column field. From the Change bookkeeping account section, select the account on which the sum will be posted.
- Check the posting’s functionality by pasting the message 1234567890 0001234/1234567500.00 15.00- 485.00 DEMO into the Check the functioning of the posting by pasting a sample message from the bank statement here- field and click on the Check The program will then indicate how the transaction would be posted on the bank statement’s accounting page using the conditions given. When the posting rules are in order, click Continue.
The following entries are generated according to the posting rule and bank statement transaction:
|
Account |
Accounting value |
|
1910 Cash in bank |
485.00 |
|
8001 Credit card commissions |
15.00 |
|
1702 Credit card receivables 2 |
-500.00 |
Nets Ltd
- A new posting rule can be created in Posting defaults by clicking on the Add row. Next, the rule can be named, the entry description can be selected and it can be chosen weather the rule applies for withdrawals or deposits. Then, by clicking the Change bookkeeping account - button the accounting account can be selected from the Account list. If the transactions are wanted to be posted in the same way regardless of bank account, a bank account should not be selected from the Account number menu.
- Next, clicking on the Posting by message-button opens a view for saving the information by which the transaction will be retrieved. Enter the information in the Search information in the message, rules for transactions function’s fields, as sum data is processed from the message.
- Thus, from the message copied from the bank statement, 1234567 890 87654321 190.00 -2.50 / Nets Oy, the original receivable of EUR 190.00 and the commission of EUR 2.50 deducted by the credit card company will be processed separately.
- The message includes spaces, which indicate different columns. Enter each rule on its own row.
- The sum is wanted to be processed in the fourth column of the message, so enter 4 in the Column field. From the Change bookkeeping account section, select the account on which the sum will be posted. The Change the sign of selection will reverse the sign of the sum to be posted from the message, i.e. a credit entry should be made in this case, since the message contains a debit entry.
- The sum also wanted to be processed in the fifth column of the message, so enter 5 in the Column field. From the Change bookkeeping account section, select the account on which the sum will be posted. The Change the sign of selection will reverse the sign of the sum to be posted from the message, i.e. a debit entry should be made in this case, since the message contains a credit entry.
- Check the posting’s functionality by pasting the message 1234567 890 87654321 190.00 -2.50 / Nets Oy into the Check the functioning of the posting by pasting a sample message from the bank statement here- field and click Check. The program will then indicate how the transaction would be posted on the bank statement’s accounting page using the conditions given. When the posting rules are in order, click Continue.
The following entries are generated according to the posting rule and bank statement transaction:
|
Account |
Accounting value |
|
1910 Cash in bank |
190.00 |
|
8001 Credit card commissions |
2.50 |
|
1703 Credit card receivables 3 |
-187.50 |
Loan repayment and interest
- Some banks provide the sum information of loan repayments on specification rows, in which case Procountor can read the data from the specification row’s message information according to the entry description.
- A new posting rule can be created in Posting defaults by clicking on the Add row Next, the rule can be named, the entry description can be selected and it can be chosen weather the rule applies for withdrawals or deposits. Then, by clicking the Change account button the accounting account can be selected from the Account list. If the transactions are wanted to be posted in the same way regardless of bank account, a bank account should not be selected from the Account number menu.
- Next, clicking on the Posting by message button opens a view for saving the information by which the transaction will be retrieved. Enter the information in the Search information in the message, rules for transactions function’s fields, as sum data is processed from the message.
- From the message copied from the bank statement, Instalment 200.00 euro Interest 1.80 euro Expenses 0.50 eur Remaining 600.00 euro Number of instalments 3 Date of maturity 07.03.2012, you want to process the instalment of EUR 200.00, interest of EUR 1.80 and expenses of EUR 0.50 separately.
- The sum is wanted to be processed following the word Instalment in the message, so enter Instalment in the Text search field. From the Change bookkeeping account section, select the account on which the sum will be posted. Follow the same procedure for interest and expenses.
- Check the posting’s functionality by pasting the message Instalment 200.00 euro Interest 1.80 euro Expenses 0.50 euro Remaining 600.00 euro Number of instalments 3 Date of maturity 07.03.2012 into the Check the functioning of the posting by pasting a sample message from the bank statement here field and click Check. The program will then indicate how the transaction would be posted on the bank statement’s accounting page using the conditions given. When the posting rules are in order, click Continue.
The following entries are generated according to the posting rule and bank statement transaction:
|
Account |
Accounting value |
|
1910 Cash in bank |
-202.30 |
|
2830 Loans from credit institutions |
200.00 |
|
9440 Interest and other financial expenses |
1.80 |
|
9440 Interest and other financial expenses |
0.50 |
Posting by name of the recipient/payer
- Transactions on a bank statement can be posted to specific accounts according to the name of the recipient/payer. This posting default is appropriate in cases where a non-reference payment is regularly received or paid to a certain supplier, and the transactions are wanted to be posted differently from the defaults. Begin saving posting rules by checking the bank statement to see by which name the transaction is entered on the bank statement.
- Example: The payment of invoices is wanted to be posted from group companies on a specific account:
- A new posting rule can be created in Posting defaults by clicking on the Add row Next, the rule can be named, the entry description can be selected, and it can be chosen weather the rule applies for withdrawals or deposits. Then, by clicking the Change bookkeeping account button the accounting account can be selected from the Account list. If the transactions are wanted to be posted in the same way regardless of bank account, a bank account should not be selected from the Account number menu.
The following entries are generated according to the posting rule and bank statement transaction. The recognized transaction is entered according to the posting rule and other transactions according to the default:
|
Account |
Accounting value |
|
1910 Cash in bank |
-1000.00 |
|
2880 Payment transaction account |
800.00 |
|
2900 Amounts owed to group member companies |
200.00 |
Posting by message
- Transactions on a bank statement can be posted to specific accounts according to message in the Additional information This posting default is appropriate in cases where you regularly receive a payment identified by message and wish to post the transaction differently from the defaults. Begin saving posting rules by checking the bank statement to see with which message the transaction is entered on the bank statement.
- Example: a debt-collection company is paying received penal interest to the account, and you wish to post the payments on their own account:
- A new posting rule can be created in Posting defaults by clicking on the Add row Next, the rule can be named, the entry description can be selected, and it can be chosen weather the rule applies for withdrawals or deposits. Then, by clicking the Change bookkeeping account button the accounting account can be selected from the Account list. If the transactions are wanted to be posted in the same way regardless of bank account, a bank account should not be selected from the Account number menu.
- Next, clicking on the Posting by message button opens a view for saving the information by which the transaction will be retrieved. Enter the information in the Search information in the message, rules for transactions function’s fields. If there are characters such as an order number ahead of the message, enter the number of characters to be skipped in the Number of bypass field.
The following entries are generated according to the posting rule and bank statement transaction:
|
Account |
Accounting value |
|
1910 Cash in bank |
350.00 |
|
9160 Other interest and financial income |
350.00 |
Posting by name of recipient/payer and VAT
- VAT deductions for transactions can be processed on a bank statement when entering the statement into the accounts.
- This posting default is appropriate for situations such as payments for which no purchase invoice has been entered into the system, but whose purchase VAT must be processed.
- Begin saving posting rules by checking the transaction’s entry description and name from the bank statement.
- A new posting rule can be created in Posting defaults by clicking on the Add row Next, the rule can be named, the entry description can be selected, and it can be chosen weather the rule applies for withdrawals or deposits. The name that should be recognized from the bank statement should be savede in the Recipient/Payer field. Then, by clicking the Change bookkeeping account button the accounting account can be selected from the Account list and a vat rate can be selected from the VAT % menu. If the transactions are wanted to be posted in the same way regardless of bank account, a bank account should not be selected from the Account number menu.