You are performing a bank account reconciliation. On the account statement, you notice bank charges and bank interest. These charges and interest are unrecorded. You want to record these…

Question

Options

• AOn the Bank transaction groups form
• BOn the Bank accounts form
• COn the Reconciliation matching rules form
• DOn the Bank transaction types form

• A
  6% (3)
• B
  8% (4)
• C
  2% (1)
• D
  85% (45)

Explanation

You can use bank transaction types to identify specific bank transactions. For example, you could create transaction types such as Fees, Charges, and Interest. Field: main account Select the main account for the transaction type, which is suggested automatically as the offset account on transaction lines with this bank transaction type. For example, when you post a correction transaction in bank account reconciliation, such as penny differences, bank fees, or interest charges, the offset main account appears automatically if you enter an account in this field for each bank transaction type. Not B: Use this form to create and manage bank accounts. Not C: You can set up reconciliation matching rules and reconciliation matching rule sets to help the bank reconciliation process. Reconciliation matching rules are a set of criteria that are used to filter bank statement lines and bank document lines during the reconciliation process.

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