The Bank Withdrawal is used to pay non-vendors and record withdrawals directly from your bank account. There is no invoice, credit memo, or official vendor associated with it. You will, however, have the opportunity to select which GL Accounts will be debited.
Number: This is pre-populated with the next check number for the checking account selected in the field below it. Normally, you would never change the Number. Even if you are not cutting a check, it is helpful to have a number assigned to every withdrawal for reference purposes. And since Restaurant365 uses blank check stock with MICR, if you are only recording a payment made outside the system, burning a ‘check number’ on a withdrawal isn’t important.
Checking Account: The bank account you want to pay from.
Paid To: Input the person or company’s name that will print on the check.
Comment: Add a comment (if you wish) that will print as a memo on the check.
Amount: Add the amount you wish to pay. When you do, you will notice the ‘Unassigned Amount’ field to the right that appears. This reminds us that the amount will need to be allocated to some expense account before we will be able to Save or Approve the transaction.
Date: Ensure you have the correct date in the ‘Date’ field.
Location: and the appropriate location in the ‘Location’ field.
Address: Enter the Address of the Paid To if you want their address to print on the check. To do this, click on the ‘Change Address’ button and add the address. A new Pop-up will Open. Enter the address you want printed on the Check and then click on ‘Change Address’Once the header is filled out, we now need to allocate the amount of the check to an expense account (or accounts). This is the debit side of the transaction (a credit to the checking account will be the other side of the transaction.) As with the other transaction screens, enter the name of or even part of the name of the account you wish to debit and then pick the correct account from the drop down list. Hit the ‘Tab’ key to go to the ‘Amount’ field and enter the amount. Hit the ‘Tab’ key again to go to the ‘Comment’ field and enter a detail comment if needed. Hit the ‘Tab’ again to go to the ‘Location’ field and select the correct detail ‘Location’. Once you have entered all the information for the detail line item, click on ‘Add’ to add the line item to the transaction. Repeat these steps to add additional line items if needed.Once the transaction amount is fully assigned below, the transaction can now be saved or approved.
Once approved you can now print the check. To print the check, go to Actions and select ‘Print Check’ A PDF preview of the check will appear. Seelct the print Icon in the PDF to print. Once printed close the PDF.
After the check has printed, close the print preview window and a message appears asking if the check was printed successfully. Chose to either reprint now or later if needed. If the check did print successfully, then click ‘Yes’. It is important to know that once you select ‘Yes’ (that the check did print successfully), you will not be able to reprint that check again. This prevents inadvertent duplication of check printing.
That covers the basics of ‘Bank Withdrawal’. Thank you for attending this training session. This article is one of many training sessions available to you on-demand. We invite you to continue your training so that you can get the most out of Restaurant365 to help your restaurant reach it’s full potential.