Using Odoo ERP for your business
Overview
1 Views •1.1: How to Create a Journal.
1 Views •1.2: How to Create a Chart of Accounts.
1 Views •1.3: How to Create Journal Entries.
1 Views •1.3.1: How to Post Opening Balance of Customers.
3 Views •1.3.2: How to Post Opening Balances for Suppliers.
3 Views •1.4: How to Create Bank Account
2 Views •1.4.1: How to Create Bank Opening Balance.
1 Views •1.5: How to Create a Bank Statement.
2 Views •1.5.1: How to Record Transactions in a Bank Statement.
1 Views •1.5.2 How to Record Transactions and Reconcile Journal Entries.
2 Views •1.5.3.How to Reconcile Journal Entries.
2 Views •1.5.4: How to Record Cash Transactions and Reconcile Journal Entries.
3 Views •1.6.1: How to View Reports Such as Balance Sheet, Trial Balance and Profit & Loss.
0 Views •1.6.2: How to View Tax Report.
2 Views •1.6.3: How to View MIS Reports.
0 Views •Overview
0 Views •1.3.2: How to Post Opening Balances for Suppliers.
3 Views •1.5.4: How to Record Cash Transactions and Reconcile Journal Entries.
3 Views •1.3.1: How to Post Opening Balance of Customers.
3 Views •1.5: How to Create a Bank Statement.
2 Views •1.5.2 How to Record Transactions and Reconcile Journal Entries.
2 Views •1.4: How to Create Bank Account
2 Views •1.6.2: How to View Tax Report.
2 Views •1.5.3.How to Reconcile Journal Entries.
2 Views •1.3: How to Create Journal Entries.
1 Views •1.4.1: How to Create Bank Opening Balance.
1 Views •Overview
1 Views •1.5.1: How to Record Transactions in a Bank Statement.
1 Views •1.1: How to Create a Journal.
1 Views •1.2: How to Create a Chart of Accounts.
1 Views •2.3.4: How to Create a Backorder.
0 Views •9.2: How an Employee can View their Leave Request.
0 Views •4.3 How to Scrap Products
0 Views •2.3: How to Set New Product Settings.
0 Views •2.3.3: How to Receive Goods
0 Views •8.1: How to Generate a Pay Slip for a Single Employee.
0 Views •How to record transactions in a bank statement.
We record transactions such as withdrawing money from any of the company bank accounts or when we receive money in our bank accounts. Such transactions are paying suppliers, receiving payment from customers etc.
Suppose you withdraw money from the co-operative bank account for purpose of operating the petty cash, record the transaction as follows:
Step 1. In the accounting overview, open the statement of your bank in this case, Co-operative bank and fill in the details as shown below i.e. In the accounting overview, open the statement of your bank in this case, Co-operative bank and fill in the details as shown below. E.g. -20,000 for our case. -ve because you are removing money from the account
N.B: The label will appear on all account reports related to this entry.
If the transaction adds money to the bank account, just type the amount as shown below. +ve because you are adding money to the account.
N.B: for the label as shown below, indicate the label when either of the situations occurs otherwise leave it blank.
Situation:
Select a supplier when you will be paying them their payment or refunds.
Select a customer when receiving payment from them or when refunding them.
For the purpose of withholding tax.
When paying salaries/wages.
Withdrawing of depositing in directors funds.
Next: How to record transactions and reconcile journal entries
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