Using Banking

Using Banking

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.

Enter Purchases

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.

Using Checks

Reconcile

Bank Reconciliation

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

This section offers a comprehensive view of all the cash moving in and out of the business. See Using 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.

Checks

 
This system enables you to print and keep a record of checks issued. See Using Checks

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