Hi, what is the guidance on using a bank entry - is it when money is moving in or out of a bank account?
Is it an issue if bank entries and cash entries are posted as journal entries? Do we have to go back and change them all?
Thanks.
Hi, what is the guidance on using a bank entry - is it when money is moving in or out of a bank account?
Is it an issue if bank entries and cash entries are posted as journal entries? Do we have to go back and change them all?
Thanks.
Journal is a record that keeps accounting transactions in chronological order, i.e. as they occur.
you can post cash and bank entries as a journal entry. cash entry and bank entry are nothing but cash and bank transactions. e.g. cash deposited in bank or cash withdraw from bank. you can give debit credit accordingly.