Banking transactions in WEDATA ERP
From deposit to reconciliation
Use WEDATA to record and review bank payments, deposits, and transfers. The banking tools available to your business depend on your product edition and configuration.
Banking workflow overview
Features
Bank movements
ready for review
Bank payments
Record payments such as expenses, supplier dues, employee payments, or customer refunds when these options are enabled in your product. Review the account, party, amount, date, and any available allocation details before saving.
Bank deposits
Record incoming amounts when deposits are available in your product, and review the related account and supporting document. Opening-balance entry and allocation steps vary by edition and account setup.
Transfers between accounts
Record transfers between bank accounts, or between a bank account and cash, when this option is available in your setup. Review the accounts, amount, and date; steps may vary by product edition.
Import and reconciliation
Where available in your edition, review bank activity against account balances to identify transactions that need follow-up. Import formats and any matching options depend on the product edition and configuration.
More tools
Tools that make following
your bank account easier
Movement inquiry
An inquiry that narrows the list of recorded movements, so you reach the transaction you are looking for fast.
Amount allocation
Allocate every payment or deposit to its invoices, so you know what is paid and what is due in every account.
Transaction review
Review recorded bank payments and deposits against account activity to help identify movements that may need attention.
Attachments
Attach receipt images and delivery notes to the movement itself, so they are in front of you at review time.
Linked transactions
Open several transactions together, and move from the bank movement to the document it came from.
Bank reports
Review the account movements available in your setup. The report types and details may vary by product edition and configuration.
Related records
Review bank activity
alongside account records
Compare recorded payments and deposits with the account records available in your setup. Any links to sales channels or online stores depend on supported products and configuration; confirm availability with WEDATA.
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Customer and supplier invoices
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Sales channels and bank statements
FAQ
Frequently asked questions
about banking transactions
Questions that come up when starting to record bank movements and reconcile balances.
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How do I record a payment to a supplier or an employee's salary?
Record the payment against the relevant bank account, choose the party, and enter the amount and date. The available allocation options depend on your product edition and configuration.
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Can the bank statement be imported?
Bank-statement import and supported file formats depend on the product edition and configuration. Contact WEDATA to confirm availability and how reconciliation can be handled in your setup.
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What is the point of reconciling movements with the bank statement?
Reconciliation makes the system balance equal the actual bank balance. You review statement lines against system movements and tick the matching ones, revealing duplicate entries and movements not yet recorded.
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Can I move a balance between the bank and the cash box?
Yes. Choose the account transferred from, the account transferred to, the amount and the date, and the balance is deducted from the first and added to the second in one movement called a funds transfer.
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How do I enter my bank account's opening balance?
Record it as a bank deposit dated at your start on the system, representing the capital your account balances begin from. It can be saved as a draft and reviewed before approval.
Review bank movements with WEDATA
Record and review bank payments, deposits and transfers using the options available in your product and account configuration. Confirm any statement-import or reconciliation tools with WEDATA.