Page 22 - Participant Guide ebook - Unanet GovCon Using General Ledger

Activity 3.1 GL Journal Entry – Bank Service Charge
Login as Amy Accountant (GL User) – aaccountant / welcome

Activity Steps:
After performing the monthly bank reconciliation for MyCo.’s Operating Bank Account, a
Bank Service Charge of $25 needs to be recognized. Create a month end journal entry
to record the Bank Service Charge

1. Navigate: Financials > General Ledger > Journal Entries then + Journal Entry

2. Enter the following Summary information then click SAVE
• Description Monthly Bank Service Charge
• Document Date End of Posting Month
• Post Date End of Posting Month

3. Enter the Details > Expenses for this MyCo transaction:

DEBIT:
• ACCOUNT 80.03.01 - Bank Service Charge
• ORGANIZATION MyCo
• DEBIT 25.00

CREDIT:

• ACCOUNT 10.01.01 - Operating Bank Acct
• ORGANIZATION MyCo
• CREDIT 25.00

4. Confirm the DEBITS AND CREDITS ARE EQUAL and SAVE
5. Submit the journal entry for posting

LESSON 3 GENERAL LEDGER TRANSACTIONS
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