Splitting an Electronic Transaction
Problem
A transaction on the bank statement needs to be
coded to more than one account.
This assumes the transaction is not a repeating one
(in which case the process would be quite different).
Examples
- A single payment of $160.00 is received from a
client who has two loan accounts. The payment needs to be split to pay $65.00
to their Fixed Loan account, and the balance ($95.00) to their Variable Loan
account.
- A payment of $124.99 was direct debited by your
telecommunications supplier. $100.00 of this was for internet expenses and the
remaining $24.99 was for telephone and toll calls. These are to be coded to
separate GL Codes.
Solution
Using
the first example, the process is as follows:
- In the Electronic Transaction Browse:
- Highlight the transaction you wish to split
- Click
- the Cashbook Statement Browse will open.
There
will be no entries displayed
- If the bank transaction is a Deposit (Credit):
Click
- If the bank transaction is a Withdrawal (Debit):
Click
The Statement Transaction will open. Click the
button
The Statement Analysis of Transaction screen will
display. (This is the same screen as the 'Quick Code' screen)
- Complete the screen with the transaction details
for the first amount to be coded.
In the example above, this was to allocate $65.00 of the $160.00 payment to their Fixed Loan Account.
- Click
on this transaction once the details have been completed.
You
will be returned to the Statement Transaction screen
- Click
- Enter the details of the second transaction
In the example above, this was to allocate the remaining $95.00 of the $160.00 payment to a Variable Loan Account.
- Click
You
will now be on the Statement Transaction screen
- The Statement Transaction date will have
defaulted to today’s date. Change this to be the same date as the originating
transaction.
You
will be returned to the Cashbook Statement Browse, where the batch you just
entered will now be displayed
- Click
to match the statement batch to your electronic transaction.
You
will then be returned to the Electronic Transaction Browse where the
transaction will now have a status of “Matched”.
If that is not the case then either the date does
not agree or the batch total is not the same as the imported transaction value.
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