Automatic Bank Deduction Tab

 

This is the companion screen to the Bank Reconciliation  - Generate Automatic Deductions tab.  In this screen, the automatic deductions are set up.  Upon generation in the Bank Reconciliation module, the appropriate journal entry will generate and the outstanding check list will display the automatic deduction.

 

To view the detail on a specific deduction, highlight it and the pertinent detail will display in the Detail section.

Automatic Bank Deductions field definitions:

 

View If the Radial is Current – open deductions will display.If the Radial is Closed –previous deductions will display. 
Number of Payments   If the Radial is Original – the number of times the deduction will be generated.  If the Radial is Remaining - the balance of the number of times the deduction will be generated. 
Setup Date      The date on which the deduction was created.
First Deduction Date The date on which the bank will be making the fist deduction.
Last Deduction Made The date of the most recent deduction.
Last Date Changed If any changes have been recorded, the latest date of such change will appear here.
Changed By  The initials of the user who recorded the last edited change.
Reason The reason for the latest change.
  This button will close the deduction so that no further deductions can be generated within the Bank Reconciliation module
  If this button is lit in red, there are notes regarding the automatic deduction. 

Automatic Bank Deductions Section:

Bank   The name of the bank from which the deduction will be generated. 
Account Number The number the bank has for the user’s account.
Payment Amount The total of the specific automatic deduction.
Day of the Month The specific day when the deduction will be generated by the bank.
Description  The reason for the automatic deduction. 

Detail Section:

Item    The item number assigned.
Description    The detail and reason for the specific line item.
Amount   The cost of the individual line item.
G/L Number  The general ledger account number where the charge will post.
Total Detail  The sum of all of the line items.  This amount must agree with the Automatic Bank Deductions Payment Amount.