From time to time there is a need to record a miscellaneous debit/credit for the occasions when there is an entry on the bank statement but not in HiRUM, or vice versa. This is basically a journal entry and should be actioned and rectified as quickly as possible. When this has been actioned it is necessary to record the opposing entry in the miscellaneous debits/credits.
These entries can be recorded when going through the End of Month Wizard in our Trust Accounting software, or by clicking on the banking register and clicking on the debits/credits icon
Click insert and type in the date of the entry, give a description, a unique reference number and the amount whether it is a miscellaneous debit or credit, see below:
Once the entry has been actioned, you will need to apply the same reference number to the opposing entry. By doing this you will be able to run a Debits/Credits Difference report which will now only outline any unresolved entries. Please note that although these have been actioned they will still always appear on the Miscellaneous Debits/Credits report along with their reference number.
HiRUM is renowned in the property management industry for our Trust Accounting software capabilities.
Not only does our system provide precision accounting and transparent record keeping, but our accounting wizards ensure lightning fast speed.
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