How can we account the interest received from the Bank Account in ADDA?
Please do follow the below steps to track interest received from the Bank Account:
Step 1: Login to ADDA -->> Admin -->> General Ledger -->> Chart of Accounts -->> Income -->> Set up Non - Member Income Account -->> Create new GL account called " Bank Interest".
Step 2: Go to Income Tracker -->> Non Member Income -->> Go to Unassigned Vendor -->> Click on Invoice button -->> Fill the require details and Post amount.
Step 3: After that post a collection entry by clicking on Collection >> Enter the payment Details >> Post.
What is bank reconciliation ?
Income entries are being captured in Income Tracker and cheque / cash gets deposited in Bank Account. Expenses are being captured in Expense Tracker and cheques are written to withdraw money. How do you ensure that all the entries are correct and ...
How to create bank account in ADDA to capture the entries?
To create the bank account in ADDA, kindly follow the below steps: Step 1: Go to General ledger>>Chart of accounts>>Assets. Step 2:Under Set up Bank & Petty Cash Details enter all the details i.e Group, GL account number, and Account name>>Click on ...
How to reconcile a transaction i.e. Bank Reconciliation?
Please follow the below steps on how to do Bank Reconciliation: Step 1: Login to ADDA -->> Admin -->> Bank and Cash -->> Bank & Cash Accounts Step 2: Select the Date Range. Step 3: Select Bank A/c shown next to "Reconciled Transaction" to reconcile. ...
How to do Bank Reconciliation?
Log in to ADDA -->> Admin Dashboard -->> Bank & Cash -->>Bank & Cash Accounts -->>Please select the Date Range, and the relevant Bank Account -->> The view you see is just the same transactions as entered in Income Tracker (all collections), Expense ...
How to create ledger account?
Creating Ledger Accounts: System will be having some accounts by default which will be used by most of the Apartments. And if required, more ledger accounts can be created for Assets/Liabilities/Expense/Income. Step 1: Login to ADDA >> Admin >> ...