Bank Transaction Journal Entries

The bank transaction journal entries below act as a quick reference, and set out the most commonly encountered situations when dealing with the double entry posting of banking transactions.

In each example the bank transaction journal entries show the debit and credit account together with a brief narrative.

For a fuller explanation of bank transactions and journals, view our cash and cash equivalent tutorials.

Bank Transaction Journal Entries Examples

The bank account referred to in these journal entries is a separate account in the general ledger for a specific named bank account and would be shown under the balance sheet heading of cash and cash equivalents.


Customer check deposited into bank journal entry
Account Debit Credit
Bank XXX
Accounts receivable XXX

 

Check payment made to a supplier
Account Debit Credit
Accounts payable XXX
Bank XXX

 

Cash withdrawal from bank journal entry
Account Debit Credit
Cash XXX
Bank XXX

 

Bank charge journal entry
Account Debit Credit
Bank charges XXX
Bank XXX

Cash withdrawal from bank for personal use journal entry
Account Debit Credit
Drawings XXX
Bank XXX

Deposited cash into bank journal entry
Account Debit Credit
Bank XXX
Cash XXX

Bank interest journal entry
Account Debit Credit
Interest expense XXX
Bank XXX

Journal entry for opening bank account with cash
Account Debit Credit
Bank XXX
Cash XXX

Journal entry for interest received from bank
Account Debit Credit
Bank XXX
Interest income XXX

Journal entry for bank service charge
Account Debit Credit
Bank service charges XXX
Bank XXX

Journal entry for loan borrowed from bank
Account Debit Credit
Bank XXX
Loan XXX

Journal entry for fund transfer from one bank to another
Account Debit Credit
Bank account 1 XXX
Bank account 2 XXX

Bank credit memo journal entry for interest income
Account Debit Credit
Bank XXX
Interest income XXX

Bank debit memo journal entry for bank fees and charges
Account Debit Credit
Bank fee expense XXX
Bank XXX

Popular Double Entry Bookkeeping References

This bank transaction journal entries reference is one of many popular references from the double entry bookkeeping reference guide, discover another at the links below.

Bank Transaction Journal Entries November 17th, 2017Team

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