Note: If the debiting transaction is related to a payment processed through SME Professional, users should match this payment rather than assigning it manually. More information on matching transactions can be found here.
To assign a bank transaction:
Navigate to Financials > Unassigned lines.
Locate the relevant transaction.
Click on the edit pencil icon.
Select a relevant Category and Subcategory.
Enter a description if required.
Click Submit.
Please find below further guidance on how to assign different types of debit transactions.
1. Profit transfer out of client account to trading account
Money that is transferred to the trading account after profit calculation.
Category: | Business |
Subcategory: | Fee transfer between internal accounts |
Outcome: | This will debit the revenue balance held in the client account. |
2. Deposit money paid out manually
Deposit money registered with the deposit scheme or refunded back to the tenant.
Category: | The property address |
Subcategory: | Deposit out |
Outcome: | This will debit the deposit balance and add a deposit out line to the deposit ledger. If the deposit was processed through the system, please match this line. |
3. Overpaid rent refunded to the tenant
Money that was overpaid by the tenant and is being returned.
Category: | The property address |
Subcategory: | Rent repayment |
Outcome: | This will debit the overpaid rent balance. |
4. Unknown funds
Where there is a transaction but are unsure of where funds should debit.
Category: | Business |
Subcategory: | Suspense account |
Outcome: | The funds will temporarily debit the suspense balance and should be moved using the double-entry function when the funds can be reassigned. |