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Enter accounting transactions

Enter transactions: Check summary memo example

You can create Check Summary Memo type transactions for your clients in the Actions > Enter Transactions screen. The application uses check summary memos to group printed and handwritten checks and payments for a bank account, journal, and posting period into 1 credit distribution.
Transaction-based reports, such as the General Ledger report, display the check summary memo as 1 cash entry distribution instead of listing the individual distributions for each check and payment.
note
You'll need to be in Journal mode (as set up in the Enter Transactions Options dialog) to create check summary memos.
  • The Check summary memo type won’t be available if the Enter Transactions screen is in Bank Account mode.
  • Checks cannot be added to an existing Check Summary Memo transaction.
  • Printed checks can be summarized in the general ledger by selecting a summarized Journal Entry Format within Report options of Print Reports from File.
If you have the following checks and payments:
acs-example of checks and payments
The General Ledger report displays the credit distributions of the checks and payments individually.
acs-general-ledger-report
If you create a Check summary memo type transaction for the selected bank account, journal, and posting period, the application automatically calculates the transaction amount by summing the amounts for those checks and payments.
acs-check-summary-memo
The General Ledger report lists a single credit distribution with the summary amount.
acs-single-credit-distribution

This article applies to:

  • Product: Accounting CS
  • Subject: Journal entries

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