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- Dr Deposit Account
- Cr Current Bank Account
The return of funds to the current bank account can be also performed by Money Transfer
See more on Money Transfers
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If money is transferred to a supplier as a deposit, it is not an expense, but an asset (prepayment/deposit):
Step 1. Create a Bank Payment (or Cash Payment)
Create a Bank Payment (or Cash Payment) with the Transaction Type: To Supplier
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On the Payment Details tab:
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See more on Cash/Bank Deposit (to Supplier)o receive the accrued deposit interest, create
Step 2. Receive the Accrued Deposit Interest
Create a Bank Receipt with the Transaction Type: Others.
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- Select Transaction Type: Loan Issued
- Fill in:
- Borrower
- Contract / Agreement number
- Loan amount
- Interest rate
- GL accounts and other dimensions
On the Amortization Schedule tab:
- Set schedule type and payment frequency
- Enter loan start date, term, and repayment start date
- Click Calculate, then review and post
See more on Loan Agreements
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- Create a Bank Payment with Transaction Type: Loan Issued
On Payment Details tab, select:
- Contract
- Loan Agreement
- GL Account (Loan Receivable)
Entry:
- Dr Loan Issued
- Cr Cash / Bank
See more: Deposit in Bank (as Loan)
Step 3.
Step 4. Receive the Accrued Deposit Interest
Create a Bank Receipt directly from the Loan Agreement.
Click Generate > Bank Receipt.
On the Main tab, enter the date of the next payment.
On the Payment Details tab, click Fill by Schedule. All data will be filled automatically based on the loan agreement schedule.
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