Use this setup page to enter bank accounts, reconcile bank accounts, and export the list to Excel. A bank account is typically defined as a financial institution:
- Into which your company deposits funds
- From customer checks
- EFT funded transactions
- Writes checks from (or record online payments)
- Transfer funds from one bank to another
Before setting up Bank Account records, you must first setup a GL Account with the account type of Bank, which will be linked to each bank account record.
To add a new Bank Account, from the main menu, arrive at the Bank Accounts setup with this path: General Ledger>Bank Accounts.
The Bank Accounts list will be displayed. Click on the Add Bank Account button at the upper left of the form.
The Bank Account Edit form will be displayed. Each data entry field is described below. All data entry fields except Description are required.
- Bank Name – Type in a name for the bank account. This appears on drop-down lists where selecting a bank for a transaction. Maximum 25 characters.
- Description – This is a longer description for the bank account. Maximum 50 characters.
- Next Check # – Enter the next check number.
- Check Format – Make a selection from the drop-down list.
- GL Account – From the drop-down list, select the GL Account for this bank.
- Account # – Enter the bank account number provided by your financial institution.
- Routing # – Enter the bank routing number provided by your financial institution. This field is validated.
When finished, click the Save button at the bottom of the form.
