Service-based Business Bank Accounts Make Deposits Use this function to create a deposit slip whenever you are about to make a deposit into any of your bank accounts. Simply specify the account and select the checks from a list (the checks must have been previously entered using the Enter Receipts function on the Sales & Customers tab). The deposit slip is printed automatically when you are done. Enter Miscellaneous Transactions Transactions that affect your bank accounts are entered using the Enter Receipts function on the Sales & Customers tab, the Pay Bills, Manual Checks, and Void Checks functions on the Vendors & Purchases tab, the Print Checks, Manual Checks, and Void Checks functions on the Payroll tab, and the Transfers Funds on the Bank Accounts tab. However you will need to enter other types of transactions as well (e.g., miscellaneous debit and credit adjustments, service charges, miscellaneous deposits and withdrawals, wire transfer fees, credit card fees, returned check fees, etc.). Use this function to enter any transactions for which there are no functions in the system. This is a three step batch entry process. Transactions may not be deleted. Instead, you may use the 'Void Transactions' function to nullify any transaction that should not have been entered. In this way, all transaction numbers appear on the Transaction Registers and the sequential integrity of the transaction number is maintained. Reconcile Accounts This comprehensive interactive screen allows you to easily enter information from your actual bank statement to quickly check the accuracy of your information against that of your bank and reconcile (balance) your books to the bank statement. The process begins when you specify the bank account and statement date. The date will default to same date of your last reconciliation but in the current month. The prior balance then appears after which you enter the ending balance from your statement along with any service charge and interest earned. You do not need to enter the service charge or interest as separate transactions—simply enter the amounts on this screen and the transaction records will be created automatically. Once the initial information is entered you are presented with a list of uncleared transactions for the specific account being reconciled. Simply select those that appear on the statement and confirm or change the cleared amount as necessary. When a check is cleared for a different amount, a transaction is automatically created to account for the discrepancy. No operator action is required beyond changing the cleared amount. Information found on most bank statements appears on the bottom of the screen. This includes the total debits, total credits, the number of debits, and the number of credits. Also, the currently cleared amount is updated and displayed as you select transactions. Finally, the difference between the currently cleared amount and the total of the debits and credits on your statement is updated and displayed as you select the transactions. The total of the cleared documents must equal the difference between the prior balance and the ending balance. If there is a discrepancy, the program will automatically create an adjusting entry upon your approval. If there are any transactions on your bank statement that do not appear on the list, you may enter them into your register by clicking on the Add to Register button. Any new transactions that you enter in this fashion will immediately appear on the list so that you may then select them for this reconciliation process. Upon completion of this process, a register showing all the details of this operation is automatically printed for your hard-copy audit trail. Transfer Funds Use this function to move funds from one account to another in the same bank. A bank fee for the transfer may be included in the 'transfer' transaction itself, along with the general ledger accounts that need to be credited and debited by the fee amount. This is a three step batch entry process. Set Up Bank Accounts You must set up one record for each of your bank accounts. Enter basic information, including: description (e.g., Citibank Checking), bank, telephone number, contact, etc.). There must also be one record on file for each bank in which you have an account. When the program prompts you for the bank code, you may click on the Create Bank button to enter its record if it is not already on file. Note: The Opening Balance on this record is for informational purposes only. It is not used to initialize the bank account when you first start using this system. It is meant only as a reference for when you actually first opened the account with the bank. Bank Accounts: Reports & Lists Transaction Register These are basically lists of transactions that have not been summarized (see Maintenance ToolBox). You can select one bank account, or include transactions from all accounts. You can select the order in which the transactions are printed (by Origin, Bank Account, Transaction Number, Effective Date, or Transaction Type). You can select both cleared and uncleared transactions, or either by themselves. You can select a date range, a transaction number range, and one or all transaction types. You can also elect to include transactions that originated in Payroll, Bank Reconciliation (Bank Accounts tab), Accounts Payable (Vendors & Purchases tab), and Accounts Receivable (Sales & Customers tab), or any combination of these that you need. Check Register This is a list of checks disbursed. You can select one bank account, or include checks from all accounts. You can select both cleared and uncleared checks, or either by themselves. You can select a date range. You can also elect to include checks that originated in Payroll, Bank Reconciliation (Bank Accounts tab), or Accounts Payable (Vendors & Purchases tab), or any combination of these that you need. Reconciliation Register This report is available in both detailed and summary formats. The detailed version is identical to the register produced each time an account is reconciled. It includes full detail of the process with lists of all transactions involved. The summary version shows only the most vital aspects of each reconciliation, including the statement date, previous balance, ending balance, service charge, interest earned, number of debits, total debit amount, number of credits, total credit amount, and, of course, the bank account. In both formats you may select registers from one or all bank accounts. You may also limit the report by a date range. Missing & Duplicate Checks This report shows you which check numbers are missing from their sequences. It also shows which check numbers have been duplicated, if there are any. History These reports are virtually the same as the Transaction Registers described above. The only real difference is that these reports can only include cleared transactions that have been summarized (see Maintenance ToolBox). You can select one bank account, or include transactions from all accounts. You can select the order in which the transactions are printed (by Origin, Bank Account, Transaction Number, Effective Date, or Transaction Type). You can select one bank account, or include transactions from all accounts. You can select the order in which the transactions are printed (by Origin, Bank Account, Transaction Number, Effective Date, or Transaction Type). You can select both cleared and uncleared transactions, or either by themselves. You can select a date range, a transaction number range, and one or all transaction types. You can also elect to include transactions that originated in Payroll, Bank Reconciliation (Bank Accounts tab), Accounts Payable (Vendors & Purchases tab), and Accounts Receivable (Sales & Customers tab), or any combination of these that you need. Undeposited Checks This report provides you with a list of checks received that have not been recorded on a deposit slip. You may choose to see checks in one bank account or all bank accounts. Withdrawals This report is a summary list of withdrawal transactions that were entered using the Enter Miscellaneous Transactions function. You may select transactions from one or all bank accounts. You may also limit the transactions by a date range. Deposits This report is available in both detailed and summary formats. The detailed format includes all transactions included in the deposits (one printed line per transaction). The summary format prints only the total of each deposit along with the deposit date and, of course, the bank account. In both formats you may select transactions from one or all bank accounts. You may also limit the transactions by a date range. Other Lists These are simple lists of the information you entered into the two basic master files for the Bank Accounts tab: Bank Accounts and Banks