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How to enter a direct withdrawal from checking account
Posted: Fri Apr 24, 2009 10:13 pm
by jorja920
We have been using PC+10 now for 2 years; only using the Contributions module. Now we are implementing the Fund Accounting; our building loan payment is a direct withdrawal from our checking account. Since we don't write a check, how do we do that in AP or should we enter thru FA as a transaction?
Any suggestions?
Re: How to enter a direct withdrawal from checking account
Posted: Sat Apr 25, 2009 10:37 am
by NeilZ
jorja920 wrote:We have been using PC+10 now for 2 years; only using the Contributions module. Now we are implementing the Fund Accounting; our building loan payment is a direct withdrawal from our checking account. Since we don't write a check, how do we do that in AP or should we enter thru FA as a transaction?
Any suggestions?
IMHO - if you already have the proper credit/debit the accounts in FA for the mortgage, what I would do is setup an auto-repeating entry as a manual check and credit/debit the accounts in that entry. Then use dummy check number of DW to show the direct withdrawal.
In this way, you have the system reflecting a monthly bill, and all the proper transactions will be setup for you.