Contents - Index


Bank accounts 


Each bank can have multiple accounts.  

Make sure the bank account code format matches your bank's format.

The default is for the company's bank accounts to be shared between any departments.  Bank accounts can be reserved to one department. This prevents other departments from using that bank acount.  For other departments to pay suppliers using a single cheque account leave the box unchecked. 

If the account is reserved to a single department indicate, in the description, which department the account belongs to. This helps to lessen problems when entering transactions.



Adding Accounts
  • Enter a bank code. Or select a bank (to view/select existing banks click the button to the right of the Bank Code field).
  • Enter a new bank account number. It must follow the format of the bank account - use your bank statement to see what it is.
  • If this is the Default bank Account for cheques and other payments check the box. The default bank account is the first to display when creating a cheque.
  • Enter a description of the bank account.  It is a good idea to use the same name as the banks'.
  • If you wish, enter the Last Cheque number from your cheque book.  This is used to automatically create cheque numbers when entering cheques.  This allows you to check the cheques in Professionals Retail Business with your cheque book stubs for audit purposes.
  • Enter a number in Last Transaction No.  Make sure the number entered is a higher number than you are ever likely to need for cheques.  For example 100,000 should be safe.  This number is used for all bank transactions that are not cheques.  Once you have set this number - don't change it.  Bank transaction maintenance checks for duplicate transaction numbers and it can become frustrating trying to find a non-duplicate
      
  • If you wish to allocate this account to one department check One Dept only.  Then select the department.
      
  • If you have an overdraft facility check the Overdraft provision box.  The field Overdraft amount displays.  When this is on a warning is not displayed if the account is in overdraft, providing the balance is within the overdraft limit.
  • Enter the permitted overdraft amount in the Overdraft amount field.  If any cheque or withdrawal results in the balance exceeding the overdraft amount you will be warned.