1. Two-Line Entry in Sage Accounting 100 Objective: To…
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1. Two-Line Entry in Sage Accounting 100
Objective:
To create a two-line accounting entry for account 51211000, accurately reflecting bank transactions.
Steps:
Open the cash journal:
Menu: Daily > Accounting Entries
Select the bank journal (often called "BQ" or similar)
2. Enter the first line (Debit):
Account: 51211000
Debit: Amount received
Description: Description (e.g., "Customer payment")
Document: Transaction reference
Enter the second line (Credit):
Account: 51211000
Credit: Amount debited (e.g., bank charges, transfer)
Description: Description (e.g., "Bank charges")
Document: Same reference or a different one as appropriate
Complete with third-party accounts or expenses/revenues:
To balance the entry, add the corresponding accounts (e.g., 706 for sales, 627 for bank charges)
Validate the entry:
Verify that The balance is zero.
Click "Validate" or "Save."
3. Why this is useful:
Allows for line-by-line comparison with the bank statement.
Facilitates automatic or manual reconciliation.
Improves the traceability of bank transactions.
Objective:
To create a two-line accounting entry for account 51211000, accurately reflecting bank transactions.
Steps:
Open the cash journal:
Menu: Daily > Accounting Entries
Select the bank journal (often called "BQ" or similar)
2. Enter the first line (Debit):
Account: 51211000
Debit: Amount received
Description: Description (e.g., "Customer payment")
Document: Transaction reference
Enter the second line (Credit):
Account: 51211000
Credit: Amount debited (e.g., bank charges, transfer)
Description: Description (e.g., "Bank charges")
Document: Same reference or a different one as appropriate
Complete with third-party accounts or expenses/revenues:
To balance the entry, add the corresponding accounts (e.g., 706 for sales, 627 for bank charges)
Validate the entry:
Verify that The balance is zero.
Click "Validate" or "Save."
3. Why this is useful:
Allows for line-by-line comparison with the bank statement.
Facilitates automatic or manual reconciliation.
Improves the traceability of bank transactions.
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