Master Records > Bank Account > Set Up Bank Account

The Information Page is automatically opened when you click New in the Bank Account Maintenance function. Use this page to enter basic information about the bank account and to set up the parameters that will affect the manner in which this bank account may be used in transactions.

To enter values in this page, perform the following steps:

1.To set up general information about the new bank account, enter values into the following fields:

•Account Type

Select from among the options the bank account's type: Checking, Savings, or Other.

•Check Format Requirement

Select in this field the check format required by the country from which the bank account is maintained.

•Account Description

Enter in this field a brief description, such as General or Payroll, to signify the purpose of the account.

•Account #

Enter in this field your account number with the bank.

•Bank Routing #

Enter in this field your bank's routing number. This information can be found at the bottom of your check along with your bank account number and check number. This code is used by the electronic funds transfer agency to process transactions for this bank account.

•Currency Code

Select the currency in which transactions are to be recorded and reconciled for this bank account. The default currency is your home currency. The multi-currency feature is integrated in the General Ledger, Consolidated Ledger, Accounts Receivable, Sales Order, Accounts Payable and Purchase Order modules. If you intend to use the Multi-Currency feature in those modules, you must mark the Use Multi-Currency option box in the Module Setup function for each of those modules.

The Currency Code feature is a one-time set up. You cannot change the currency code after you save the bank account record.

•Status

Select from among the options the bank account's status: Active or Inactive.

•GL Account ID

Enter in this field the GL Account ID which AccountMate will use to post journal entries for transactions affecting this bank account. When you enter a valid GL Account ID, the description of the account is displayed in the field below it.

2.Mark any of the following checkboxes, whichever is applicable:

•Use in Accounts Payable

Mark this checkbox if you allow use of this bank account in the Accounts Payable module.

•Use in Payroll

Mark this checkbox if you allow use of this bank account in the Payroll module.

•Use in Sales Order/Accounts Receivable

Mark this checkbox if you allow use of this bank account in the Sales Order/Accounts Payable module.

•Electronic Payment

Mark this checkbox to activate the electronic payment feature. It also configures AccountMate to create a single direct deposit disbursement record during the printing of computer check. The total amount of the disbursement record will be the total electronic payments processed during the print check run.

3.The Bank Statement area shows reference information for the following:

•Previous Statement Date

This read-only field shows the Ending Statement Date of the most recent finalized bank reconciliation for this bank account record.

•Previous Statement Balance

This read-only field shows the Ending Statement Balance of the most recent finalized bank reconciliation for this bank account record.

•Unreconciled Amount

This read-only field shows the total amount of unreconciled transactions recorded for this bank account record.

•Current Balance

This read-only field shows the total amount of the bank account's previous statement balance and unreconciled amounts.

Notes:

•As soon as the most recent bank statement reconciliation for this bank account is finalized, the values in these read-only fields are updated.

•You can view the transaction details that make up the Unreconciled Amount for this bank account by clicking the drill-down field label. The Unreconciled Items for Bank # [xxx] detail analysis screen will be displayed.

Information Page

Information Page

See Also