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Enter accounting transactions

Check summary memo examples

You can create Check Summary Memo type transactions for your clients in the
Enter Transactions
 screen. The application uses check summary memos to group printed and handwritten checks and payments for a bank account, journal, and posting period into 1 credit distribution.
Transaction-based reports, such as the General Ledger report, display the check summary memo as 1 cash entry distribution instead of listing the individual distributions for each check and payment.
note
You'll need to be in Journal mode (as set up in the
Enter Transactions Options
 screen) to create check summary memos.
  • The Check summary memo type won’t be available if the
    Enter Transactions
     screen is in
    Bank Account
     mode.
  • Checks can't be added to an existing Check Summary Memo transaction.
  • Printed checks can be summarized in the general ledger by selecting a summarized Journal Entry Format within Report options of Print Reports from File.
  • You can use the
    Distributions
    ,
    Notes
    , and
    Events
     tabs on this screen to enter and review information that may be helpful with the check summary memo transactions.

Example

If you have the following checks and payments on the
Enter Transactions
 screen:
Date
Reference
ID
Description
Accounts
Amount
3/23/2016
None
16
Staples
101.640
566.18
3/24/2016
None
None
Tim Riggins
101.663
250.00
3/12/2016
119
None
AT&T
101.645
229.87
3/23/2016
120
Elect
Detroit Edison
101.661
447.23
3/23/2016
121
16
Staples
101.640
69.88
The General Ledger report displays the credit distributions of the checks and payments individually.
If you create a Check summary memo type transaction for the selected bank account, journal, and posting period, the application automatically calculates the transaction amount by summing the amounts for those checks and payments.
The General Ledger report lists a single credit distribution with the summary amount.

This article applies to:

  • PRODUCT: Accounting CS
  • Subject: Journal entries

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