Entrepreneurship & Small Business

Bank that offers payment narration in transactions

  • Last Updated:
  • Mar 11th, 2021 11:05 am
[OP]
Jr. Member
May 25, 2018
197 posts
37 upvotes

Bank that offers payment narration in transactions

You pay a vendor or supplier, there's no meaningful narration to the transaction making book keeping harder. Please which bank offers accounts with the ability to properly narrate payments and transactions so it's easy to remember what the transactions are for....
4 replies
Deal Addict
Jan 1, 2017
1746 posts
1720 upvotes
Mrman123 wrote: You pay a vendor or supplier, there's no meaningful narration to the transaction making book keeping harder. Please which bank offers accounts with the ability to properly narrate payments and transactions so it's easy to remember what the transactions are for....
What method of payment are you using? What specific info do you want to have in the transaction?
Newbie
Feb 17, 2017
88 posts
19 upvotes
Hamilton, ON
I've used RBC and BMO and find the transaction records pretty barebones and useless. you'll probably have to do it yourself, not in the bank's software. when you make the payment, record somewhere in your own records the date, amount, invoice number etc. could be just a google doc or spreadsheet and then whenever you or your bookkeeper updates the books, the human reviews the notes and transfers the info into quickbooks or whatever.
[OP]
Jr. Member
May 25, 2018
197 posts
37 upvotes
zorg001 wrote: I've used RBC and BMO and find the transaction records pretty barebones and useless. you'll probably have to do it yourself, not in the bank's software. when you make the payment, record somewhere in your own records the date, amount, invoice number etc. could be just a google doc or spreadsheet and then whenever you or your bookkeeper updates the books, the human reviews the notes and transfers the info into quickbooks or whatever.
Have you tried out any other banks? or credit unions? Maybe I should ask any one ones Im approaching for a new account about this so I know what they say before opening the account.
Newbie
Feb 17, 2017
88 posts
19 upvotes
Hamilton, ON
Mrman123 wrote: Have you tried out any other banks? or credit unions? Maybe I should ask any one ones Im approaching for a new account about this so I know what they say before opening the account.
I have not tried any others. Probably the best solution is to maintain your own books outside the bank. Most banks have a way to download transactions as CSV, Excel, and/or quickbooks files. Once a month you download transactions, import them to your accounting software, and make notes on the transactions there.

https://www.rbcroyalbank.com/onlinebank ... index.html

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