Enter the name of the bank account, up to 60 characters.
Enter a description for the bank.
Tip: If you have more than one account with the same bank, entering descriptions for the accounts can help you distinguish between the accounts (for example, Current Account, Savings Account, Japanese Yen Account).
Specify the operating account for this bank.
Specify the account that is used for writing off credit card charges and online payment processing charges applied to a deposit. The charges will be written off during bank reconciliation in the same way that bank errors are written off.
Specify the account to which are posted small discrepancies between the bank statement and the general ledger.
In a multicurrency bank, if the transaction currency is not the same as the statement currency, errors are posted to the Exchange Gain/Loss accounts as chosen on the Currency tab, rather than to the Write-Off account.
Type the bank's address, using up to 60 characters in each address line.
Type the name of the city where the bank is located, using up to 30 characters.
Type the name of a general contact person or position in the bank using up to 60 characters.
Type the name of the country where the bank is located, using up to 30 characters.
Type the company's fax number, up to 30 characters. (The same formatting conditions apply as for Telephone.)
Type the company's telephone number. If you selected Format Phone Number in the Company Profile in Common Services, type 10 numbers and the program will automatically insert parentheses and hyphens. Otherwise, type up to 30 characters.
Type the name of the state or the province where the bank is located, using up to 30 characters.
Type the bank's zip or postal code, using up to 20 alphanumeric characters.
The total of the previous three fields.
Note: This field provides a rough idea of your current bank balance, but it may not match your actual balance as calculated by the bank, because it includes post-dated items, and because Bank Services does not know which items have cleared the bank yet.
A lump sum of all deposits outstanding at the time of the most recent reconciliation, plus deposits recorded since that date. This figure includes post-dated deposits that you have entered in Sage 300.
The closing statement balance from the last bank statement to which the account was reconciled.
The date to which the most recent reconciliation was posted.
The fiscal year and period of the most recent posted reconciliation.
The date of the most recent statement.
A lump sum of all payments and withdrawals outstanding at the time of the most recent reconciliation, plus payments and withdrawals issued since that date. This figure includes post-dated checks that you have entered in Sage 300, if any.
If you print advices only, or advices following checks, enter the file name of the report specification for the advice form.
Tip: Click Browse to locate the file if you are not sure of the file name of the report.
Enter a number for the printed detail lines that will fit on the advice form or in the advice section of the check form (for combined checks and advices). Lines that exceed this amount will be printed on subsequent advice pages or combined check/advice forms.
If you print checks only, or checks combined with advices, enter the file name of the SAP Crystal Reports® specification for the check form. If you are not sure of the file name, click Browse to display a list of files by drive and folder.
If you are setting up check printing information for a bank, type a unique code, up to six alphanumeric characters, to identify your check stock. The check stock is composed of the physical check forms, combined with report specifications and the check language.
When you print checks for your program, select one of the check stock codes defined for the bank. The description for the code and its type are displayed in the Print Checks screen.
Enter a description (name) for the check code, using up to 60 characters.
Specify one of the installed languages to use to print the body of the check (that is, the date, written amount, and numerical amount).
If you are setting up check printing information for a bank, type the number that you want to assign to the next check drawn on this account.
When you print checks for your program, Bank Services assigns numbers sequentially to the checks in the batch, beginning with this number.
When you post the checks, Bank Services updates the next check number in the bank record.
You can edit the number at any time, if necessary.
Select one of the four following physical stock types:
- Combined Check and Advice. Select this type if your printed check forms contain the advice portion on the same page as the check.
- Checks Then Advices. Select this type if you use different forms for checks and advice slips. The program prints all the checks first, prompts you to load the advice forms, then prints the advices.
- Checks Only. Select this type if you want to print checks only.
- Advices Only. Select this type if you want to print advices only. This would most likely be the case if you write manual checks and want an individual printout for each check, to keep track of payments.
This tab appears only for multicurrency companies.
Select the default currency rate type to use when issuing checks in this currency.
Select a currency that you use when you make deposits to, or issue checks from, this bank account.
Select the default currency rate type to use when recording deposits in this currency.
The account to which Bank Services posts realized gains in currency exchange.
The account to which Bank Services posts realized losses in currency exchange.
The account used for rounding differences from Accounts Receivable multicurrency transactions.
Type the number of the bank account (assigned to the account by your bank). This is an optional field unless you will be importing downloaded statements. The number can be up to 22 characters, including punctuation; however, do not use punctuation (including dashes, periods, spaces) if you will be importing statements downloaded from your bank's website.
This option allows you to set a minimum time to keep transactions after they are reconciled.
The program removes only transactions for which a reconciliation was posted at least this number of days before you run Bank Clear History.
The maximum amount that you will accept without investigating the cause of the error.
If the bank clears a check or deposit with an amount that differs from your records, and the difference is less than or equal to the spread, the Bank Services program posts the discrepancy to the General Ledger Clearing Errors account.
If the discrepancy is greater than the spread, you still have the choice of clearing the difference to the Clearing Errors account, but you can also mark it "Cleared with Bank Error," which flags the discrepancy as pending further action (such as phoning the bank to request that they correct the error, or making an adjustment entry if the discrepancy is due to a data entry error).
Select this option to set the bank record inactive. The date you set the record inactive appears beside the option.
You can select the Inactive option at any time. For example, you might set the bank Inactive after you close the bank account or if you decide not to use it any more. You could temporarily mark the bank inactive if the account is low on funds, to prevent additional withdrawals.
You cannot set a bank record inactive if there is an unposted reconciliation or any printed and unposted payment checks for the bank.
Once you set a bank record inactive, you can finish processing existing transaction batches that involve the bank. However, you cannot use the bank code in new transactions in Bank Services or in other programs or specify the bank as the default for Bank Services. Also, you cannot reconcile or import e-statements for an inactive bank.
When you save a new record or make changes to an existing record, this field is automatically updated with the Windows system date.
Select this option if your bank accepts deposits and issues checks in currencies other than your company's functional currency.
Note: After you add the bank, you cannot change the multicurrency setting.
When you select the Multicurrency option, the Statement Currency field appears, displaying the functional currency by default.
Type the number that you want Bank Services to assign to the next deposit batch for this account.
When you create a deposit batch in Accounts Receivable or in another subledger, Bank Services assigns this number to the batch, as a means of differentiating between deposit batches.
If you use pre-numbered deposit slips, type the number of the next deposit slip that you will use for this bank account.
Select the currency in which transactions are reported on the bank statement. This is the currency of the bank account and the currency in which transactions are reconciled.
You cannot change the statement currency after you save the bank. If you make a mistake and have already saved the bank, delete the bank and start over again by choosing the New Record button.
Type the banking industry code that identifies this bank. This is an optional field unless you will be importing downloaded statements.
In this field, use the Finder to select a default tax group to use for this bank when you enter taxable bank entries during bank reconciliation.
Tax groups specify the authorities that tax the services for which the bank charges, and they assign your tax class for each authority. (Tax classes determine the specific classification for a tax, such as the tax rate to apply or whether you are tax-exempt.)
The Taxes tab on the Banks screen displays the tax authorities associated with the tax group specified for the selected bank.
You cannot add or delete a tax authority on this tab. However, you can change the tax class for a tax authority, or you can change the tax group used for the bank.
This is the tax class associated with the tax authority for the tax group you chose for this bank. Click the Finder in the field to select the vendor tax class, or leave the default.
Overview
Note: Depending on how your system is set up, this desktop screen may also be available as a web screen. For more information, see the Web Screens Getting Started Guide or the help for Sage 300 web screens.
Use the Banks screen to:
- Add a new record for each physical bank account (that is, for each bank account on your chart of accounts).
- Edit information for existing bank accounts. (You can change any fields except the bank code, the Multicurrency option, and the statement currency.)
- View the approximate bank balance during the month (on the Balance tab).
- Delete the record for a bank you no longer use.
Account Tab
Use this tab to select the following:
- Bank Account
- Write-Off Account
- Charges Account
Do not select an account that has the Post To Account field set as prohibited.
Address Tab
Enter the address (up to 60 characters), telephone and fax numbers (up to 30 characters each), and contact person (up to 60 characters) of the bank account.
You can change the information after adding a bank record.
Balance Tab
This tab displays up-to-date information for a bank account, including:
- The last statement date, the last reconciliation date, and the year and period to which the reconciliation was posted.
If there is no posted reconciliation for the bank, the program displays the year and period from the oldest year for which a fiscal calendar was created in Common Services.
- The closing balance of the last bank statement to which the account was reconciled.
- The total of all deposits outstanding as of the last reconciliation plus subsequent deposits, including post-dated deposits that have been entered in Sage 300.
- A total of all withdrawals outstanding as of the last reconciliation, plus any withdrawals issued since that date. This figure includes post-dated checks that have been entered in Sage 300.
- The current balance, which is the sum of the last statement closing balance, plus deposits, less withdrawals.
Note: This figure may not match the account balance calculated by your bank because this amount includes items that have not yet cleared the bank, and because your bank may have cleared items that you have not recorded in Sage 300.
Check Stocks Tab
Use this tab to enter printing information for checks drawn on the bank account.
For each physical check stock you use with this account, you must:
- Enter a code and the next number to assign to checks drawn on this account.
- Select the type of stock (combined, sequential, or separate checks and advices).
- Select the report specifications for the check and advice forms you use.
Note: You normally keep your reports specifications in the Customization Directory or in the folder for the language associated with the check forms you have specified (for example, in the \ENG folder, if your checks use the English language). When a check is ready to be printed, the Bank Services program searches for the file you name in these folders. If it cannot find the file, you can use Browse to specify the file location.
- Select the language that you want to appear on the body of the check. The language you select here is a default; the language set up in individual employee and vendor records takes precedence when you print checks in Accounts Payable and Payroll. You can also change the default at the time of printing, for other types of checks you issue from this bank account.
You can change the information on this tab after saving the bank record.
Currency Tab
This tab appears only if the Multicurrency option has been selected on the Profile tab.
Use this tab to enter currency information for multicurrency and foreign currency banks.
Note: If you are using a Sage 300 product that does not support multicurrency and you use multicurrency databases, you must install the Sage 300 Multicurrency product.
For each currency you use with this bank account, you must enter:
- The default check and deposit rate types.
- The General Ledger accounts to which realized gains or losses in currency exchange are posted.
You can change the information on this tab after saving the bank record.
Profile Tab
Use this tab to enter identifying information for the bank account. The following information is required:
- The number of the next deposit batch for this account.
- The maximum error amount that the bank accepts without investigating the cause of the error.
- General ledger accounts for the bank and for clearing errors posted during bank reconciliation. If you do not use Sage 300 General Ledger, you can enter the account number from another system.
You can also enter the bank's transit number and the bank account number.
Tip: You find these numbers encoded on the bottom of your cheques, sometimes referred to as MICR #s, or Magnetic Ink Character Recognition numbers.
If the bank can accept deposits and issue checks in currencies other than your company's functional currency, you must also:
- Select the Multicurrency option.
- Enter the statement currency.
If you enter a functional currency, you have a multicurrency bank. You need to specify allowable source currencies on the Currency tab.
If you do not enter a functional currency, you have a foreign-currency bank. The program uses the Company Profile default rate type for checks and deposits.
After adding a bank record, you can change any information except the Multicurrency option and statement currency.
Note: If you are using a Sage 300 product that does not support multicurrency and you use multicurrency databases, you must install the Sage 300 Multicurrency product.
Taxes Tab
Use this tab to select a tax group and a vendor tax class for each tax authority in the tax group.