Master Records > Bank Account > Update, Delete or Archive Bank Account

Situations may arise requiring you to amend or update various information in a bank account record. Most of the information for a bank account are editable; however, there are certain fields that are disabled and grayed out once the bank record is saved during initial set up.

Note: Any changes to these settings will only affect transactions that are subsequently recorded for the bank account.

To update a bank account record, perform the following steps:

1.Access the Bank Account function from the Bank group under the Maintenance menu in the Accounts Receivable and Accounts Payable modules. The Search screen is automatically displayed when this function is accessed.

2.Enter in the Search field, the bank account code that you want to update. You may also browse through the pages to locate the bank account record; then, double-click the code to select. As soon as bank account code is selected, AccountMate will automatically display the settings and values previously set up for this bank account record on the edit screen.

Note: Various drillable fields are available in this function screen. When you click any drillable fields in this function, the system automatically displays the relevant Maintenance function screen.

3.Review or amend the values entered in the Bank Name field. This field shows the bank account's name.

4.In the Information Page, amend or update the values in the following editable fields, as necessary:

oAccount Type

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

oCheck Format Requirement

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

oAccount Description

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

oAccount #

Enter in this field your account number with the bank.

oBank 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.

oStatus

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

5.Mark or unmark 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.

6.In the Check Settings Page, amend or update the values in the following editable fields:

oAll checks use same starting check #

Mark this checkbox if computer and handwritten checks are to share the same check number sequence. Otherwise, do not mark this checkbox. The setting in this checkbox does not apply to the Next E-Payment Check # field in the E-Payment Settings Page.

oNext Computer Check #

Enter in this field the check number that the system will assign to the next computer check printed for this bank account. After you enter a number in this field, the system automatically updates the number sequentially each time you print a computer check. If you edit this number later, the new number should be greater than the highest number already used, unless you are starting a new, lower sequence. The system will not allow you to enter a check number that has already been used for this bank account.

oNext Handwritten Check #

Enter in this field the check number that the system will assign to the next handwritten check posted for this bank account. The system will then update the number sequentially each time you record a handwritten check payment after the fact. If you amend this number later, the new number should be greater than the highest number already used, unless you are starting a new lower sequence. The system will not allow you to enter a check number that has already been used for this bank account.

Note: If you have specified that computer and handwritten checks must use the same starting check number, any number you enter in the Next Computer Check # field will automatically appear in the Next Handwritten Check # field, and vice versa.

oComputer Check

Enter in this field the default maximum disbursement amount that can be printed for computer checks from this bank account.

oHandwritten Check

Enter in this field the default maximum disbursement amount that can be posted for handwritten checks from this bank account.

Note: The maximum amounts for Accounts Payable handwritten or computer checks are specified in the vendor record or in the bank account record, whichever is lower. Refer to the Vendor Maintenance section for more information.

oCheck Layout

Select the check layout that best match the check stock you are using for this bank account. Click the List Box button to display the check layouts supported in AccountMate; then, click the option to select.

oBranch #

Enter the bank account's branch code in this field.

oAddress

Fill in the Address fields the city, state, zip and country information on the bank branch where the bank account is maintained.

oMICR Line

Specify in this field the order in which you want AccountMate to print the bank's routing #, bank account # and check # on the computer check. Click the List Box button; then, select the option that best suits your desired sequence.

oSignature

If you want AccountMate to print the checks with authorized signatures, click the List Box button beside the Signature field to choose from among the available signatures maintained in the system. To set up additional signature files, click on the Signature field label to display the Signature Maintenance function window. For more information on setting up signature files, refer to the discussion on Signature Maintenance topic.

oFractional Routing Number

Enter in Line 1 and Line 2 fields the appropriate values to make up the fractional routing number (transit number) as required by the branch where this bank account is maintained.

7.In the Signature page, you may add, edit or delete the lines in the Signature grid. The new settings will affect only the new checks that will be generated for the bank account after the changes has been saved.

8.In the E-Payment Settings Page, perform the following:

oNext E-Payment Check #

Enter the check number that AccountMate will assign to the next electronic payment check generated for this bank account. This field is mandatory if the Electronic Payment feature is activated and the Use in Accounts Payable checkbox or Use in Payroll checkbox is marked in the Information Page.

oCheck Layout

Click the List Box button and choose the check layout option you want to use whenever an electronic payment check is printed.

oDirectory

Enter in this field the location where you want AccountMate to store the direct deposit transmission file. Alternatively, you can click the Browse button to browse the desired directory. Ensure that the directory you choose is shared on the network so that it will be accessible from whichever workstation you will transmit or email the file.

oFile Prefix

Enter in this field the code that will be the fixed portion of the ACH filename. This field accepts an alphanumeric characters.

oNext Batch #

Enter in this field the initial value of the sequence number that will be assigned to the ACH file. The value you enter will form the variable portion of the ACH filename and will be incremented each time you apply payroll/payment. This field accepts an alphanumeric characters.

oACH Format

Enter the format you want to use when generating a direct deposit transmission file. Click the List box button to display all the available formats maintained in the system. Click the desired option to select.

Note: To create a new ACH format that your bank branch requires, click the ACH Format underlined field label to display the ACH Format Maintenance function. Alternatively, you can also access the ACH Format Maintenance function from the Maintenance Menu in the BR module.

9.In the Access Restrictions Page, mark or unmark the checkbox that corresponds to the user group or individual user names that you wish to restrict from using this bank account in various transactions.

10.In the Notes Page, review or update the narrative information about this bank account. This information may be used as reference when you record disbursements, receipts and transfers for this bank account.

11.To save the changes made to this bank account record, click the Save button in the function toolbar; otherwise, click Cancel to discard changes.

To delete a bank account record, perform the following steps:

1.Access the Bank Account function from the Bank group under the Maintenance menu in the Accounts Receivable, Accounts Payable and Bank Reconciliation modules. The Search screen is automatically displayed when this function is accessed.

3.When you are ready, click the Delete button in the function toolbar. Any of the following may occur:

•If the bank account is no longer assigned in any record or in any unreconciled bank transactions, a message will display requesting confirmation to delete the customer record. Click Yes to confirm; otherwise, click No.

•If the bank account has unreconciled bank transactions or is still assigned to another record, a message will display informing you that deletion is not allowed. Click Ok to close the message window.

•If transactions involving the bank account exists and are unreconciled, a message will display informing you that the record will be archived. Click Ok to proceed.

Notes: Archiving a bank account record simply sets a flag in its record so it will not show up in any bank account Lookup or Search list; the bank account's information remains saved and intact.

Reactivate (Unarchive) Bank Account Records

To reactivate or unarchive a bank account record, perform the following:

2.Click the New button to display the Create New screen.

3.Click the Archive Search button beside the Bank # field. This will display the Archive Search window where you can select the archived bank account record that you want to reactivate or unarchive.

4.In the Archived Search window, enter in the Search field the bank account # that you want to reactivate or unarchive, highlight the record; then, click OK. Alternatively, you may browse through the search pages to locate the bank account record; then, double-click the code to select.

5.A message will display asking for confirmation that you want to unarchive the record. Click Yes to confirm; then, click the Save button in the function toolbar. Click the No button to abort reactivating the record.

Update, Delete or Archive Bank Account

Update, Delete or Archive Bank Account

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