Bank Accounts

Bank accounts are used for the cash movements occurring from receivables, payables, and cash book. You can also assign a GL account to the bank account to help reconcile cash on the GL to the balance showing in the bank account.

Add a Bank Account

1. Click the Bank Accounts link from the Main Menu. The Bank Accounts screen opens.
2. Click the Add button. The Add Bank Account screen opens.
3. Enter the following information:
   • Code - Unique alphanumeric codes used by the system.
   • Description - Name for the bank account.
   • Account ID - Bank account number.
   • Supplier - Account code for the supplier account if the bank account is for a specific supplier.
   • Next Check - Next check number for supplier payment processing.
   • GL Account - GL account code associated with the bank account.
   • GL Account Description - GL account description associated with the bank account.
   • Status - Status for the bank account. Inactive bank accounts are not available for selection in drop-downs.
   • IBAN - International Bank Account Number (if applicable).
   • Check Sub Limit - Maximum number of invoices a check stub can contain. Standard configuration is 6.  
4. Expand the Details section.
5. Check the applicable check boxes:
   • Default AR -  If checked, the bank account is used as the default bank account in accounts receivable.
   • Use For AR - If checked, the bank account is available for selection in accounts receivable.
   • Default AP - If checked, the bank account is used as the default bank account in accounts payable.
   • Use For AP - If checked, the bank account is available for selection in accounts payable.
6. Enter the necessary information:
   • Check - Export format template for exporting checks.
   • EFT - Export format template for EFT exports.
   • Bank Statement Import - Format for importing bank statements.
   • BIC - Unique number for your bank for international payments.
7. Click OK.

Change a Bank Account

You can change the bank account information after you have created it. When you change the bank account information, it updates wherever the bank account is used. If you don't want to update the already existing bank account data, then you must add a new bank account using the steps in Add a Bank Account.

1. Click the Bank Accounts link from the Main Menu. The Bank Accounts screen opens.
2. Select the bank account to edit.
3. Right-click and select Edit. The Edit Bank Account screen opens.
4. Make the desired change.
5. Click OK.

Inactivate a Bank Account

If you no longer use a bank account but want to keep record of it for reporting or other purposes, you can make it inactive. When you make a bank account inactive, it is no longer available for selection in drop-downs

1. Click the Bank Accounts link from the Main Menu. The Bank Accounts screen opens.
2. Select the bank account to make inactive.
3. Right-click and select Edit. The Edit Bank Account screen opens.
4. Select Inactive from the Status drop-down.
5. Click OK.

Delete a Bank Account

If you no longer use a bank account and don't want to keep a record of it, you can delete it. You cannot undo the delete process.

1. Click the Bank Accounts link from the Main Menu. The Bank Accounts screen opens.
2. Right-click on the bank account to delete.
3. Select Mark for Delete.
4. Click the Save button.