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How to record a withdrawalfrom the bank??? [message #242586]

Mon, 04 June 2007 04:01

deepalik
Messages: 7
Registered: October 2006
Location: Mumbai, India

Junior Member

The situation is such that:

The client has made a withdrawal from the bank. The payment needs to be recorded. This will be an AP payment hence the payment will require a Supplier name and details. But since this payment is not issued to the supplier those entries cannot be done.

Then how can such a payment be recorded??

please help.............urgent

Thanx in advance

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Re: How to record a withdrawalfrom the bank??? [message #242599 is a reply to message #242586]

Mon, 04 June 2007 05:06

vin_odks
Messages: 153
Registered: July 2006
Location: -

Senior Member

Can u be more specific

Quote:

But since this payment is not issued to the supplier those entries cannot be done

How did the client or the supplier withdraw , without any payments issued?

Regards
Vinod

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Re: How to record a withdrawalfrom the bank??? [message #242790 is a reply to message #242599]

Tue, 05 June 2007 02:16

deepalik
Messages: 7
Registered: October 2006
Location: Mumbai, India

Junior Member

when the check is being issued for the supplier we enter that supplier's name in that column but when the cheque is used only for withdrawing money for our use i.e. office expenses then how to record this transaction??
thanx

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Re: How to record a withdrawalfrom the bank??? [message #242859 is a reply to message #242586]

Tue, 05 June 2007 05:37

vin_odks
Messages: 153
Registered: July 2006
Location: -

Senior Member

I would suggest the following

1) Create an employee (maybe a dummy employee) as the supplier
2) Enter the details for the payment transaction (with the employee as the supplier)

Regards
Vinod

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Re: How to record a withdrawalfrom the bank??? [message #245124 is a reply to message #242859]

Fri, 15 June 2007 04:27

NARASIMHAM
Messages: 14
Registered: June 2007
Location: HYDERABAD

Junior Member

I think your problem is cash withdrawal from Bank.
and how to record the same in Oracle.

If that is the case I will give u one solution.

Create a Bank & bank account. ( Example SBI)
Create CASH AS BANK ( i mean at bank window the name is CASH)

ok

u can recrod the cash withdrawal/cash deposit now.

go to receivables and record them as mis. cash.

For cash withdrawal

transaction 1. Mis. Cash with + value ( select Bank as CASH)
transaction 2 Mis. cash with - value ( select Bank as SBI)

try this

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