{"id":6145,"date":"2021-07-12T10:55:53","date_gmt":"2021-07-12T10:55:53","guid":{"rendered":"https:\/\/moiboo.com\/supportdocs\/sample-user-guide\/getting-started\/banking\/"},"modified":"2021-07-12T10:56:44","modified_gmt":"2021-07-12T10:56:44","slug":"banking","status":"publish","type":"docs","link":"https:\/\/moiboo.com\/support\/docs\/sample-user-guide\/getting-started\/banking\/","title":{"rendered":"Banking"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Banking<\/h2>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"Cloud Accounting Course - Chapter 4\/10 - Recording Bank Transactions\" width=\"1170\" height=\"658\" src=\"https:\/\/www.youtube.com\/embed\/5pYO87qVsho?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">LEARNING OBJECTIVES:<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Recording Bank Deposits<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">In the normal course of business, you will be depositing Cash and Cheques collected from the customer into the Bank Account. This needs to be recorded into the Accounting Software.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This section will show you how a bank deposit is recorded in Moiboo Software.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Recording Bank Withdrawals<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Often, Cash is withdrawn from the Bank account for Petty Cash Expenses or to make other payments in Cash. When Cash is withdrawn from the bank, It needs to be recorded into the Accounting Software. This section will show you how a Bank withdrawal is recorded in Moiboo Software.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Recording Cheque Returns<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Since we record every cheque which is deposited into the bank, it is important to reverse it if the cheque issued by a customer returns from the bank. This means that the customer account has to be reversed and the Bank balance reduced. This section will show you how a Cheque return is recorded in Moiboo Software.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Reconciling Bank Transactions<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The Balance shown in the Bank Ledger of the software and the Actual Balance in the Bank does not tally often. At the end of every month, it is habitual to do a Bank Reconciliation to ensure that these transaction are accounted and to ensure that the Bank Account shows a true and correct picture. This section shows you how reconciliation is made.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Banking LEARNING OBJECTIVES: Recording Bank Deposits In the normal course of business, you will be depositing Cash and Cheques collected from the customer into the Bank Account. This needs to be recorded into the Accounting Software. This section will show you how a bank deposit is recorded in Moiboo Software. Recording Bank Withdrawals Often, Cash [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":2485,"menu_order":34,"comment_status":"open","ping_status":"closed","template":"","doc_tag":[],"class_list":["post-6145","docs","type-docs","status-publish","hentry","no-post-thumbnail"],"acf":[],"_links":{"self":[{"href":"https:\/\/moiboo.com\/support\/wp-json\/wp\/v2\/docs\/6145","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/moiboo.com\/support\/wp-json\/wp\/v2\/docs"}],"about":[{"href":"https:\/\/moiboo.com\/support\/wp-json\/wp\/v2\/types\/docs"}],"author":[{"embeddable":true,"href":"https:\/\/moiboo.com\/support\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/moiboo.com\/support\/wp-json\/wp\/v2\/comments?post=6145"}],"version-history":[{"count":1,"href":"https:\/\/moiboo.com\/support\/wp-json\/wp\/v2\/docs\/6145\/revisions"}],"predecessor-version":[{"id":6146,"href":"https:\/\/moiboo.com\/support\/wp-json\/wp\/v2\/docs\/6145\/revisions\/6146"}],"up":[{"embeddable":true,"href":"https:\/\/moiboo.com\/support\/wp-json\/wp\/v2\/docs\/2485"}],"wp:attachment":[{"href":"https:\/\/moiboo.com\/support\/wp-json\/wp\/v2\/media?parent=6145"}],"wp:term":[{"taxonomy":"doc_tag","embeddable":true,"href":"https:\/\/moiboo.com\/support\/wp-json\/wp\/v2\/doc_tag?post=6145"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}