Recording Checkbook Withdrawals

There are a number of situations where money is taken out of a checking account without writing checks or having an AP record ahead of time.  In order to keep your accounting correct, paid AP records must be created after the fact when the withdrawal is entered in the checkbook.  The timing for entering withdrawals varies.  When you receive your bank statement and there are deductions for bank fees, you will enter the withdrawal as part of balancing the checkbook.  Automatic payment deductions and transfers between bank accounts are usually made when notification is received.

Bank Fee

Automatic Withdrawals

Money Transfer