Introduction

Deposit Account Transactions are recorded at what is called an Account Journal. Its more than Bank Account Statement because for each transaction is assigned an category (bill, Quota, etc) and a document  that indicates how the transaction was treated (examples: as cleaning expense, Quota payment of fraction D, as Cash Refund,...).

Home Banking service can save effort because it provides electronic Account Statement that you copy into Account Journal. After, you only need to classify each transaction and enter do number of the supporting document. And obviously, provides Account Statement at any time, without leaving home.

Each transaction on Account Statement its recorded in Account Journal. Each transaction is classified according to Transaction Classification page. These Journal is very similar to Cash Journal.

This Journal have the following kind of operations (entry's):

Operations Type

  • Opening
    At day 1 of January, the Account balance should be the exact value of the Account Journal that was transmitted by the previous administration on the homeowners assembly. This is the first operation recorded in this Journal.
  • Payments
    Electricity bills, insure policy, for example, appears as debits (negative value). Needs to add the Classification and the support document number.
  • Check Payments
    Its threated like payments but also needs to record the Check as described in Check Records.
  • Receiving's
    Receiving's of Quota's and repayments are record as credits (positive value). Also, its need to Classify and indicate the support document number.
     
  • Electronic Transfers
    Transferring money from Bank Account (withdraw) to Cash should be registry as credits (income) on Cash Journal. On the Account Journal should be record as the debit.
    In other hand, deposits in Cash should be recorded as debits in Cash Journal and as credits in Account Journal.
    In the below example, one Cash reinforcement is made by withdraw 100 Dollars from the Deposit Account, at day 2-5-2008.
  • Closing
    The date of Closing the Account Journal as to be the same as the day that ends the Accounting Period. It should be at 31 of December. The Account Balance, at day 31 24:00 hours, should be exactly the balance of the Account Journal at day 31 of December.


Date Bank Description My Description Value Balance Classification Document Number
01/01/08 - Initial Balance $120,00 -
01-10-08 Jonh Doe Receipt RC/E $420,00 $540,00 Fraction F 34
01/30/08 Elevator way Repaiment -$325,00 $215,00 Extraordinary BI43
02/04/08 CHQ21332356332 Fix & go -$40,00 $175,00 Cleaning BI56
02/05/08 Widhdraw Cash Reinforcement -$100,00 $75,00 - BK67
12/31/08 - Closing Balance $352,21 - -