Table of Contents

Overview

Bank accounts are setup and used to track deposits and withdrawals and these accounts can be reconciled against bank statements. When making cash receipt entries in A/R or cash disbursements through A/P a bank account is specified for the transaction. At least one bank account must be defined before using either the A/P or A/R module. It is necessary to set up all bank accounts that your company will be using prior to releasing the training company to your people for training.

Pre-requisite Setups:

• Cash GL Account

• Interest Earned GL Account

• Bank Charges GL Account

Banks Tab Detail

A description and use of each of the fields is detailed below. Take care to set up the correct default GL accounts as they will affect posting GL accounts. 

Open

BNK > Bank Accounts > Bank Account Query/Entry

• Active Check Box – Upon entering the screen the cursor will bypass the active check box and default to active. It is unlikely that you will be creating a new inactive account but it can be changed if needed.

• Bank code – The bank code can be an alpha code or numeric, we suggest choosing a code that will help identify the account purposes.

• Bank Name - The bank name or account name used to identify this bank account.

• Account Number – The account number of the bank account. It is not required that the account number be entered

• Check Format – The Check Format to print for this bank.

• Last Check Number – This is the last check number used on this account. When printing checks via the A/P module, it will start with this number plus 1.

• Increment check Box - Check this box to increment the last check number when processing Prepaid Check vouchers or using the Quick Check screen. If you are using checks from this account, but in a different numbering series for manual checks, uncheck this box.

• Last ACH Number – This is the last ACH number used on this account. When printing checks via the A/P module, it will start with this number plus 1.

• ACH Payment Template – The email payment used with the Electronic Accounts payable feature (eAP)

• Branch – The Branch this Bank is associated with.

• Cash GL Account - This is the G/L account to debit for when receiving Non-A/R Cash.

• Contact Name - This is the person at the bank to contact about this account. This information is optional

• Contact Phone - This is the phone number of the person at the back to contact about this account. This is also optional.

• Interest Earned G/L Account - This is the G/L account to credit when receiving interest income on this account. Interest amounts are entered as part of the reconciliation process.

• Bank Charges GL Account - This is the G/L account to debit when paying bank charges on this account. Bank charges are entered as part of the reconciliation process.

• Bank Balance Following:

  • Last Reconciliation - This is the balance of the account at the end of the last reconciliation. It will be updated as the account is reconciled. For new accounts, use the balance of the account following the last reconciliation. This field cannot be changed once the account is created.

  • Date of Last Recon - This is the date the account was last reconciled.

Note: Bank accounts with transactions cannot be deleted they can only be made inactive. 

eAP Tab Details

A description and use of each of the fields is detailed below.

Open

• Partner (dropdown) – Choose the partner you want to setup from the dropdown list

• Host – The host for the account

• Directory – The Directory for the account

• User – The username for this account

• Password – The password for the account

• ACH Only (checkbox) – This will use the ACH function to generate a file for ACH and email remittance. Must be on for Nacha to work

• Auto-Transmit Daily (checkbox) – This will auto-transmit to the partner. This feature does not work for Nacha

• Job Script – The Job Script for the account.