Use the New Bank Transaction screen to enter new bank transactions into Pandle manually. You can access this through the Quick Links menu, or through the Banking menu.

You will need to set up your bank account in Pandle before you enter transactions for it.

To use the Quick Links menu, click the 'Quick Links' icon in your Pandle navigation, and select 'New Bank Transaction'.

To access it through the Banking menu, click 'Banking' in your Pandle navigation, and select 'Bank Accounts'.

Then click the 'Enter Transactions' button.

Use the dropdown menu in the pop-up box to select the bank account you are entering transactions for, and click 'Enter Transactions'.

This will load the data entry screen for that account in Pandle.

When you enter your bank transactions manually you're essentially copying your bank statements into Pandle. You'll see a live balance on the screen which will update as you enter information. If the live balance in Pandle doesn't match the running balance shown on your bank statement, you'll know there's an error. This will help you spot any issues faster!

What information will I need to enter?

The table below shows what information you will need to enter for each transaction.

Date

The date of the transaction which is shown on your bank or credit card statement

Type

There are four types of transactions to choose from:

  • Money In: Money that you receive into your bank account that is not from a customer paying an invoice. For instance, loans received, refunds, grants.

  • Money Out: Money going out of your bank account that is not to pay a supplier's invoice. For instance, if you buy something for the business and pay for it at the time of purchase.

  • Customer Receipt: Money that you receive from customers who are paying an invoice. Read the section below about dealing with customer overpayments if this applies to you.

  • Supplier Payment: Money that you pay to suppliers who have issued an invoice to you.

Category

If the transaction is a Customer Receipt or a Supplier Payment, the category column will allow you to select which customer or supplier it relates to.

Once you select the customer or supplier, the 'Invoices' button will illuminate, and you will be able to select the invoice which the payment relates to.

Description

Entering a description helps you understand what the transaction relates to if you refer back to it later. This can be copied from the bank statement, or you can make up your own.

Tax code

If the transaction is 'Money In' or 'Money Out' and your business is VAT registered, then the relevant tax code should be selected.

You don't need to separate the VAT amount for customer receipts and supplier payments, because this happens when you enter the invoice.

Net amount

If the transaction is 'Money In' or 'Money Out', enter the net amount (the amount before VAT is added).

If you don't know the net amount, enter the gross amount (the total amount, including VAT), and Pandle will calculate the VAT amount automatically.

Click 'Save All' to save the transactions and enter them into Pandle, or click 'Back' to return to the Bank Accounts screen without saving.

How do I deal with customer overpayments?

There may be times you enter a Customer Receipt transaction into Pandle and the customer has overpaid you (i.e. the amount you receive is more than the amount have invoiced the customer).

For example, if the outstanding amount on a client's account is £50, but they pay you £60, Pandle will automatically populate the overpayment field to show the £10 difference.

The overpayment will be saved on their account. The next time you invoice the customer, the overpayment will be deducted from their balance in Pandle automatically.

What if I overpay a supplier?

If you overpay one of your suppliers, Pandle will automatically calculate the difference between your supplier invoices and supplier payments (similar to how customer overpayments work in the previous section).

The difference will then show on the supplier's account in Pandle, and will be automatically offset against the next invoice from them that you enter. That way you won't over pay them!

Related articles

Banking

Creating a bank rule

Customers

Suppliers

Invoicing

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