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.
| Account | Debit | Credit |
|---|---|---|
| Bank | XXX | |
| Accounts receivable | XXX |
| Account | Debit | Credit |
|---|---|---|
| Accounts payable | XXX | |
| Bank | XXX |
| Account | Debit | Credit |
|---|---|---|
| Cash | XXX | |
| Bank | XXX |
| Account | Debit | Credit |
|---|---|---|
| Bank charges | XXX | |
| Bank | XXX |
| Account | Debit | Credit |
|---|---|---|
| Drawings | XXX | |
| Bank | XXX |
| Account | Debit | Credit |
|---|---|---|
| Bank | XXX | |
| Cash | XXX |
| Account | Debit | Credit |
|---|---|---|
| Interest expense | XXX | |
| Bank | XXX |
| Account | Debit | Credit |
|---|---|---|
| Bank | XXX | |
| Cash | XXX |
| Account | Debit | Credit |
|---|---|---|
| Bank | XXX | |
| Interest income | XXX |
| Account | Debit | Credit |
|---|---|---|
| Bank service charges | XXX | |
| Bank | XXX |
| Account | Debit | Credit |
|---|---|---|
| Bank | XXX | |
| Loan | XXX |
| Account | Debit | Credit |
|---|---|---|
| Bank account 1 | XXX | |
| Bank account 2 | XXX |
| Account | Debit | Credit |
|---|---|---|
| Bank | XXX | |
| Interest income | XXX |
| 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.
Last modified November 8th, 2019 by Michael Brown
About the Author
Chartered accountant Michael Brown is the founder and CEO of Double Entry Bookkeeping. He has worked as an accountant and consultant for more than 25 years and has built financial models for all types of industries. He has been the CFO or controller of both small and medium sized companies and has run small businesses of his own. He has been a manager and an auditor with Deloitte, a big 4 accountancy firm, and holds a degree from Loughborough University.
