Managing Bank Accounts

Bank accounts are added in the system as reference data. Bank information is used when managing receipts, and can be associated to General Ledger accounts.

Creating a New Bank Account

1. Open the appropriate Billing Entity. For instructions on finding and opening a billing entity, see the section on Managing Billing Entities.
2. In the Billing Entity Menu, select Bank Accounts. The Bank Accounts page opens.

3. The panels and fields are described below. Fields marked with a red asterisk * are required.

   

   Tip: By default, only Active accounts are displayed.  Clear the filter in the Status column to view all accounts.

4. Click Add. The Bank Account window opens.

5. Complete the necessary information. Fields marked with a red asterisk * are required.

   

   Bank Name	Enter the name of the bank.
   Bank Account Number	Enter the account number. This number must be unique.
   Currency	Select the currency for the account.
   Description	Enter a description for the account.
   Use for Online Payments	If online payments are enabled, checking this box associates this bank account to any online payments in the selected currency. Only one bank account can be defined for online payments in each currency.

   

   The Automatic Reversal Fee panel allows an additional fee to be charged when a cash receipt is reversed. The fee is created as an adjustment charge. This is commonly used when a receipt is reversed due to "Overdraft" or "Non-Sufficient Funds", and is only applied when a specific Correction Reason is selected.

   Enable Automatic Reversal Fee	When enabled, reversal fees will be applied according to the settings below. These settings only apply to the reversal of receipts associated to the current bank configuration.
   Fee Amount	This field is available when Enable Automatic Reversal Fee is enabled. Enter the flat amount of the fee.
   Adjustment Type	This field is available when Enable Automatic Reversal Fee is enabled. The fee is added to the system as an adjustment.  Select the Adjustment Type to be applied to the adjustment.
   Correction Reason	This field is available when Enable Automatic Reversal Fee is enabled. Select a Correction Reason to trigger the fee.  When a reversal is created and posted with this correction reason, the fee adjustment will be created.

   Note: The fee settings are only applied to manual receipt reversals. Reversals created automatically as part of another action, such as a reallocation, will not trigger this fee.

6. Click Add & New to save the details and clear the form to enter another account, click Add & Close to save and return to the Bank Account list, or click Close to return to the Bank Account list without saving the account.

   

   The Status panel is displayed once a bank account has been saved, or when viewing an existing bank account.

   Active	Marks the bank account as active and available for use. If unchecked, the bank account remains as part of any existing configurations, but cannot be selected for new configurations.
   Created By	Identifies the date and time the bank account was created and the user who created it.
   Last Modified By	Identifies the last date and time the bank account was changed and the user who made the changes.

Viewing and Modifying a Bank Account

1. Open the appropriate Billing Entity. For instructions on finding and opening a billing entity, see the section on Managing Billing Entities.

2. In the Billing Entity Menu, select Bank Accounts. The Bank Accounts screen opens.

   

   Tip: By default, only Active accounts are displayed.  Clear the filter in the Status column to view all accounts.

3. Click a link in the Bank Name column to view the account details.  If there are a large number of available accounts, see the Using Grids section for help on finding the appropriate account.
4. See the section on Creating a New Bank Account for a detailed description of the fields.
5. Click Save & New to save any changes and clear the form to enter a new account, click Save & Close to save and return to the Bank Account list, or click Close to return to the Bank Account list without saving any changes.

Deactivating a Bank Account

Once created, a bank account cannot be deleted. It can be deactivated, which leaves it linked to any existing configurations, but prevents it from being used for new setups.

1. Open the appropriate Billing Entity. For instructions on finding and opening a billing entity, see the section on Managing Billing Entities.

2. In the Billing Entity Menu, select Bank Accounts. The Bank Accounts screen opens.

   

   Tip: By default, only Active accounts are displayed.  Clear the filter in the Status column to view all accounts.

3. Locate the bank accounts to be deactivated. If there are a large number of available accounts, see the Using Grids section for help on finding the appropriate accounts.
4. Check the boxes for all accounts to be deactivated.
5. Click Deactivate, then confirm the deactivation when prompted to do so. All selected accounts are deactivated. If the Bank Account list is still defaulted to only show active accounts, they are removed from the list.

Tip: Individual bank accounts can also be deactivated or reactivated directly through the bank account management record.  See the section on Viewing and Modifying a Bank Account for details.