Banks and bank transfers

The Banks page lists your business bank accounts. Each one's balance and statement are built automatically from the invoices, returns, receipts and payments you mark as paid through it, so there's nothing to keep up to date by hand.

Add a bank account

1. 1Open Banks and click +.
2. 2Enter the Bank Name (for example Meezan Bank — Current), and optionally the Account Title and Account Number.
3. 3Enter the Opening Balance: the balance on the day you start using ERP Nexl (left empty, it's 0).
4. 4Click Save.

How a bank's balance is worked out

Balance = Opening Balance + money in − money out. A document only counts if its Payment Mode is Bank and this bank is chosen in its Bank field. POS sales are always cash, so they never appear in a bank.

View a bank's ledger

Click the Ledger button on a bank's row to see its statement: every movement, oldest first, with the Date, Remarks (the type of document and its number), Details (the customer, supplier or other account), Money In, Money Out and a running Balance that starts from the opening balance.

Move money between banks or cash

Use Bank Transfers for deposits, withdrawals and transfers between your own accounts.

1. 1Open Bank Transfers and click +.
2. 2Enter the Date and the Amount.
3. 3For the side the money leaves, choose the bank in From Bank, or set From to Cash.
4. 4For the side it goes to, choose the bank in To Bank, or set To to Cash.
5. 5Add Remarks if you like, and click Save.

• Transfers can't be edited. To correct one, delete it and enter it again.
• A transfer isn't checked against the available balance, so a bank's balance can go below zero.
• Bank transfers appear in the banks' ledgers and balances. They don't create entries in the Accounting module's journal; record those with a journal entry if you need them in your accounts.

Edit or delete a bank

Edit changes any detail, including the opening balance, which shifts the balance and every running balance in the ledger. A bank that has been used on any document or transfer can't be deleted.

Banks and the Accounting module

The Banks page is the day-to-day view of each real bank account. The Accounting module keeps its own ledger accounts (such as Bank Account in the chart of accounts), and money paid by bank is posted there according to the payment mode in Account Mapping. Bank reconciliation works on those ledger accounts.