Bank Account Adjustments

Use adjustments to record bank account transactions such as interest earned, service charges, and balance adjustments.

You manage bank account adjustments from a bank account record. From the Adjustment categories tile on the bank account record, you can add, edit, copy, and delete adjustments. Use the context menu next to the adjustment you want to access.

Tip: You can also add an adjustment when manually matching transactions. For more information, see Manually Manage Transactions.

  1. From a bank account record, select More actions, Add an adjustment.

  2. Under General, enter information about the adjustment, such as adjustment category and type.

    For more information about adjustment categories, see Adjustment Categories.

  3. Select Cleared and enter the date if this adjustment is cleared.

  4. Under Distributions enter the post status and post date information for the adjustment.

  5. Select the account and enter the credit amount for the distribution.

  6. Next, select the projects, grants, and transaction codes for the distribution.

  7. To apply an account distribution set, make your selection and select Apply to distributions. Account distribution sets allow you to split an amount you have assigned to an account over several projects and transaction codes.

  8. Enter custom fields to further define the distribution.

    For more information about custom fields, see Custom Fields.

  9. Once you've entered distribution information, select Add distribution.

  10. In the Interfund entry set field, select a set to balance the accounts if the debit and credit accounts aren’t in the same fund.

  11. Enter any notes you want to associate with the adjustment in the Notes section.

  12. Under Attachments, you can add attachments to the adjustment by moving a file into the Drag a file here box or by browsing to the file. You can also link to a file online, or in a cloud storage account. For more information, see Attachments.

  13. Select Save.

Note: When you add an adjustment, such as bank interest, before you complete reconciliation you still need to post the adjustment.

To post the adjustment:

  1. From General ledger, select Post subledgers.

  2. Select Post.

  3. On the Post subledgers screen, select Cash management and then select the bank account you added the adjustment to.

  4. Optionally, you can validate first. However, when ready select Post.

From the Adjustment categories tile on the bank account record, you can add, edit, copy, and delete adjustments. Use the context menu next to the adjustment you want to access.

Once an adjustment transaction is posted or reconciled, it cannot be deleted, the amount cannot be changed, and the account distribution cannot be changed. Furthermore, for transfer adjustments, if either the “transfer out” transaction or the “transfer in” transaction has been posted, then neither transaction can be deleted.

Note: You can reverse an adjustment by creating a new adjustment of the opposite type. For example, you can create a payment adjustment of $100.00 to reverse a $100.00 deposit adjustment.

Edit payments

To edit a payment record, go to Bank accounts, Register tab, and select Edit next to the payment you want to update.

When you select Cleared, you can edit the Post date and Post status fields on payment records.