Withdrawals and bank charges

When you need this

A statement line for money out that isn't a sweep stays Unmatched until you record what it was. For example a cash withdrawal at the branch, a payment to a supplier, or the bank's own charges. Until then the account's balance in the app is higher than the bank's, and the statement can't be closed.

First find out what the money was for. The person who withdrew it, or the bursar, will know.

Steps

Bank charges and interest

1. On the line, ⋮ → Create entry.
2. Movement type: Bank charge (or Interest for interest paid in).
3. Description (optional), then Create movement. The line is matched straight away, with the bank's date and amount.

Money spent on something (an expense)

1. Expenses → New Expense.
2. Date: the day on the statement. Amount: the amount on the statement.
3. Cash account: the account the money left (for example the main account), not -- Use merchant default --.
4. Category: what it was spent on. Description: what it was for. Vendor if there is one.
5. Save expense.
6. Back on the statement, press Auto-match at the top. If the line is still Unmatched: ⋮ → Match to cash book and pick the expense.

Cash taken out for petty cash

1. Cash & Bank → Transfers → New Transfer.
2. From: the bank account. To: the petty cash account. Amount and Transfer Date from the statement. Note (optional): for example Cash withdrawal and the bank's reference from the line.
3. Transfer, then open it and Confirm.
4. On the statement, Auto-match, or ⋮ → Match to cash book and pick the transfer.

What the petty cash is then spent on is recorded as expenses paid from the petty cash account.

What you should see

The line shows as matched, and the account's balance in the app equals the bank's.

If something goes wrong

• "No unreconciled movements found on this cash account." in Match to cash book: the expense or transfer is on another account, or not saved yet. Check its Cash account (or From), and that a transfer was Confirmed.
• Never confirm a withdrawal or a charge as a student's payment.

Coming soon

Record expense and Transfer to account straight from the line's ⋮ menu, in one step.