The banking system offers a comprehensive set of functions.
Bank Accounts
Bank Accounts are displayed on the Payments, so as they can be selected to direct monies to and from the relevant Bank account.
To add a new Bank Account, go to:
BANKING > Bank Accounts > +
Bank Accounts have Actions to allow users to perform the following tasks:
Enter Purchase (Expenses) |
This action directs the user to a Document within which you can enter miscellaneous expenses directly from this account onto the General Ledger. |
Make Deposit |
Approve Deposits to this Bank Account. |
Transfer Funds |
Transfer a balance from this account to the selected Account in the General Ledger. |
Make Payment from Account |
The purpose of this action is to manage General Ledger entries from the Profit and Loss Other Expense Accounts. |
Make Payment to Account |
The purpose of this action is to manage General Ledger entries to the Profit and Loss Other Income Accounts. |
Print Checks |
This system enables you to print and keep a record of checks issued. |
Reconcile |
Petty Cash Accounts
To add a new Petty Cash Account, go to:
BANKING > Petty Cash Accounts > +
Petty Cash Accounts allow users to perform the following tasks using the Actions option on the screen:
Enter Purchases (Expenses) |
This action directs the user to a Document within which you can enter miscellaneous expenses directly from this account onto the General Ledger. |
Make Cash Deposit |
Pay cash into this account. |
Transfer Funds |
Transfer a balance from this account, and deposit to an account on the General Ledger, specifically a Bank Account. |
Credit Card Accounts
These are Liability accounts that are used for tracking credit cards.
To add a new Credit Card Account, go to:
Banking > Credit Card Accounts > +
Credit Card Accounts allow users to perform the following tasks using the Actions option on the screen:
Enter Purchase (Expenses) |
This action directs the user to a Document within which you can enter miscellaneous expenses directly from this account onto the General Ledger. |
Enter | Pay Bill |
Record a Payment to the Credit Card Company, track the Bill due date and the interest charged. |
Transfer Funds |
Transfer a balance from this account, and deposit to an account on the General Ledger, specifically a Bank Account. |
Make Payment from Account |
The purpose of this action is to manage General Ledger entries from the Profit and Loss Other Expense Accounts e.g. Card Charges. |
Make Payment to Account |
The purpose of this action is to manage General Ledger entries to the Profit and Loss Other Income Accounts e.g. Interest. |
Reconcile |
See Using Bank Reconciliation |
Cash flow forecast
Money Out
This option offers a consolidated view of monies flowing out of the business.
Money In
This option offers a consolidated view of monies flowing into the business.