Bank Account

Creating Bank Account

User must create Bank Account through Banking. User will not be able to create Bank Subtype Account of Bank Subtype through Chart of Account.

Go to Banking > Bank Account, click New. Enter the bank Name, Account Number, Currency. Click Save.

Bank Account  Name: *  Account Number:*  Currency:*  Bank Name:  Description:  Das HKD current  888-123-999-87654  Z] Is Cheque Account

An Account in Accounting  will be created automatically, if is is a foreign currency (HKD in this case) bank, an accompanied Currency Exchange Account will also be created for tracking the Default Currency (USD in this case) value.

Account  Cod e: *  Name: *  Type:  Account Sub Type:  oas HKD current  oas HKD current  Asset  Bank  u Is 8SAccount  Is Parent Node  Card:  Description:  Currency:*  Currency Exchange Account:  Temp Run Balance:  DBS HKD Current -Exchange Account  x  $0.00

Cashflow Management

To view the bank balance, user can go to Banking > Bank Register Line, select the bank and the date range, then click Show Bank Register

Source Transaction  BR-OOOOOOOI  Number  Type  Bank receipt  Card  Walkin Customer  Line Amount  $3,955.00  Balance Amount Per System  $3,955.00

All transactions of the selected bank will be shown and the Bank Balance Per System Record is dispalyed. This balance is calculated purly using the data entered into the system. So if there is a delay in data entry, it may or may not reflect the true balance of the bank.

Entering Check Bank Balance

When data entry is not up to date but user still want to track the bank balance, user can go check with the bank/online banking and get the balance at a certain date end. For example, at day end of 3rd of April 2019, user go to online banking and saw the bank balance was $18,000.

User can enter this balance into the system. Go to the Bank Account DetailView

Bank Account  Name: *  Account Number:*  RM8 current  888-999-12345

Then enter the day end balance

bank account

Go back to the Bank Register and view the Bank Register

  • Notice the Balance Amount Per Actual is now $21,955, equals the checked balance + the deposit ($18,000 + $3955)
  • The Balance Amount Per Actual is calculated based on the bank's Last Check Day End Balance and Last Check Balance Date and all the subsequent transactions.
  • User can continually update the Last Check Balance to track the bank balance updated even if data not fully entered yet

Type  Bank receipt  Card  Walkin Customer  Line Amount  $3,955.00  Balance Amount Per System Record  $3,955.00  Balance Amount Per Actual  $21,955.00