Bank Accounts

The Bank Account application will allow you to maintain a virtually unlimited number of bank accounts (i.e. savings, checking, certificates of deposit, money markets, etc.). If have infrequent purchases you can enter and print checks without having to set up an account for the vendor. Creating checks to vendors is done by easily selecting the invoices you wish to pay. The system allows you to take a discount before it determines the amount of the check and it prints the invoices paid on the check stub. If the number of invoices paid exceeds 16, the system prints a summary on the check stub and allows you to print a remittance advice report showing the invoices paid after all checks have been entered and printed. You are able to calculate and reconcile bank balances for any date. This data can then be used to create the following reports: bank reconciliation report, bank deposits and/or checks which cleared the bank, deposits in transit, and outstanding checks; each of which can be exported in a text file or printed to a hard-copy. Some additional features of the Bank Account application can be seen below:

• You are given the flexibility to enter receipts either individually as deposits to the bank, or in an undeposited receipts account. Later, these undeposited receipts can be grouped together as a single bank deposit to ease the bank reconciliation process. The detail of these bank deposits can be displayed or printed at any time.
• Receipts from accounts receivable customers can be applied to individual invoices at the time the receipt is entered or at a later time. The system automatically keeps track of unapplied receipts to ease this application process.
• Checks are sequentially numbered by the system at your prerogative with the ability to change the sequence at any time while entering checks. This feature allows you to enter manual checks for the same bank account at any time, (i.e., you can have manual checks and computer checks for the same bank account.)
• Checks can be printed using standard business computer checks available at any bank or check printing service. Different information is printed on the check stub depending on what type of check is being printed (vendor, pay checks, etc.).
• If a check needs to be re-issued because it was lost or stolen, you can simply re-number the original check instead of voiding and re-entering it.