Summary
Description
A Bank Transfer occurs when money moves between two bank accounts.
A Cash Deposit is when you pay cash into your bank account. On Sage Accounting, you use this option to move money from a cash account to a bank account. For example, you pay cash from till taking into your bank account.
When you reconcile a bank transfer or cash deposit, you can't edit or delete it. You must reverse the transaction instead.
Resolution
Reversing a bank transfer or cash deposit will update the balance on both accounts. You can then create the correct transaction if necessary.
Reverse a bank transfer
To reverse a bank transfer, create the opposite transaction.
- Go to Banking, choose New, and then select Bank Transfer.
- In the Paid from Account field, choose the bank account you want to transfer the amount from.
- In the Paid into Account field, choose the bank account you want to transfer the amount to.
- Enter the Amount you want to transfer.
- Set the Date Transferred to match the date of the original bank transfer.
- Add a Description and an optional Reference.
- Select Save.
You are now ready to create a new bank transfer if necessary.
Reverse a cash deposit
To reverse a cash deposit, create the opposite transaction.
- Go to Banking, choose New, and then select Bank Transfer.
- In the Paid from Account field, choose the bank account you want to transfer the amount from.
- In the Paid into Account field, choose the cash account you want to transfer the amount to.
- Enter the Amount you want to transfer.
- Set the Date Transferred to match the date of the original cash deposit.
- Add a Description and an optional Reference.
- Select Save.
You are now ready to create a new cash deposit if necessary.