Create Bank Transactions History
Use this screen to populate the Bank Transactions History table with transaction information from three sources: Accounts Payable (checks and EFT), Cash Receipts (deposits), and Payroll (checks and direct deposits).
During the creation process, Costpoint copies transaction data from the source tables to the Bank Transactions History table. (The source tables include: Vendor Check for A/P transactions, Cash Receipts Header and Transaction History for Cash Receipts transactions, and Employee Earnings for Payroll transactions.) During the copy process, Costpoint marks the appropriate source table to indicate that the transaction has already been written to the Bank Transactions History table.
Transaction timing data (FY, Pd, Subpd) as well as transaction date, transaction ID, number, name, and amount are written to the Bank Transactions History table during the Create process. Costpoint automatically assigns an initial OUT (Outstanding) condition to each record and identifies and writes the transaction origin (that is, A/P, Cash Receipts. or Payroll) to the table.
After data is copied to the Bank Transactions History table, Costpoint performs all bank reconciliations using only data from this table. The source tables are accessed once to populate the Bank Transactions History table and are not accessed again during bank reconciliations.
Note that "manual adjustment" data entered as New Line entries in the Accept Bank Transactions screen will also be written to the Bank Transactions History table when a new row is saved. The source table for manual adjustments is MAN (Manual).
Always keep manual adjustment entries to a minimum. Record bank interest as a cash receipt and record bank charges in Accounts Payable. Manual entries are designed to facilitate bank reconciliations only in the rare circumstance in which the normal data entry source was not used.