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Bank withdrawals: paying out of the bank

Money out of a bank to expense accounts, petty cash floats or approved staff advances.

Steps

  1. Go to Treasury > Bank withdrawals and click New withdrawal.
  2. Choose the bank, date, method (transfer, cheque, cash) and reference.
  3. Add a line for each destination: To an account (e.g. repairs, with its cost dimensions), Petty cash top-up (raises the float), or Staff advance (an approved advance - paid through Staff requests).
  4. Click Post withdrawal: each line is debited and the bank credited with the total.
  5. Reverse it with a reason if needed - posted withdrawals are never deleted.

Good to know

  • Control accounts and bank or cash accounts can't be used as direct lines: use their documents, or Transfer.
  • Withdrawals can't exceed the bank balance.