Here you enter information about each of the bank accounts that your company uses. This is required to use the Check Writer. Each bank account must be linked to a unique G/L account and a non-unique Vendor ID. This means that you must have only one bank account assigned to a G/L account, however you may have more than one bank account assigned to the same Vendor ID.
Fields
| ACCOUNT # | This bank account number, up to 15 digits. |
| DESCRIPTION | The name of this bank and type of account. |
| NEXT CHECK # | For checking accounts, this holds the number of the next check to be printed by the Check Register.
If you enter a credit to this account manually, the system assumes that the document number for that transaction is the check number and assigns that number plus one to be the new next check number. |
| VENDOR ID | As we said, each bank account must be linked to a vendor ID. You may have as many bank accounts linked to a single vendor ID as you like. The vendor record holds the contact information for the bank account. |
| G/L CASH ACCOUNT | The G/L account to which checks written on this bank account will post. This must be an asset account and no other bank accounts may be assigned this G/L account. A browse window is available to select a G/L account. |
| G/L SERVICE | The G/L account to which bank service charges will be posted during checking |
| CHARGES ACCOUNT | account reconciliation. This must be an expense account. A browse is available to select the proper expense account. You can use the same expense account for all your bank accounts, or select a separate G/L account for each bank account. |
| G/L INTEREST | The G/L account to which bank service charges will be posted. |
| ACCOUNT | checking account reconciliation. This must be an expense account. A browse is available to select the proper expense account. You can use the same expense account for all your bank accounts, or select a separate G/L account for each bank account. |
Non-Editing Fields
The following fields are maintained by the system and may by altered only by entering transactions:
| LAST ENTRY | The date any entry was made into the Check Register (automatically or by direct entry) which affected the balance of this account. |
| LAST BALANCED | The date any entry was made into the Check Register (automatically or by direct entry) which affected the balance of this account. |
| BALANCE | The current balance of this account. This is automatically updated after:
This balance is not updated by entries made directly to the General Ledger. This is why we never recommend making manual G/L entries affecting cash accounts!
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| OPENING BALANCE | The balance of the account at the beginning of the current banking period, taken from your bank statement. This is re-set by the system after you reconcile the account in PAYABLES|Reconcile. |
| OPENING DATE | The first date of the current banking period, taken from your bank statement. This is re-set by the system after you reconcile the account. |
| MTD ACTIVITY | The total debits and credits to this bank account since the beginning of the current accounting period. |
| YTD ACTIVITY | The total debits and credits to this bank account since the beginning of the current accounting year. |
| LAST YEAR | The total debits and credits to this account for the previous accounting year. |
Last Revision: 11.6.2013
