Master Records > Bank Account

Bank accounts are necessary when recording cash receipts from customers, and cash payments to vendors and employees. You can define and use bank accounts in the Accounts Payable and Bank Reconciliation modules. If these modules are installed and activated, bank accounts in Bank Reconciliation module are used to record other receipts or other disbursements for transactions not handled in the other modules.

You can enter the bank name, the account description and number, the bank routing number, the GL Account ID to which its transactions are to be posted, check number information, the maximum check amount allowed, the type of account and which modules can enter transactions using the bank account. You can also set up parameters for custom check printing on pre-printed or blank check stock, electronic payment processing, and generation of positive pay files you can send to your bank.

When creating sales order and customer invoices, the default bank account is the bank account set up for the pay code of the customer for whom you are creating the sales order or invoice. When creating purchase orders and vendor invoices, the default bank account is the one assigned to the vendor to whom the purchase order or invoice is issued.