General Tab Bank Accounts

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General Tab

As part of Bank Accounts setup, use this tab to add or edit general information about the bank account.

Fields

Note

An asterisk (red * ) indicates a required field or selection.

Bank Account ID *

Enter the bank account identification. This ID appears on lists and in reports. The description must be unique.

Description *

Enter the bank account description; for example, enter the name of the bank that holds the account. This description is for internal use only; it appears on lists and in reports. The description must be unique.

You can use the description to distinguish between several accounts at one bank. For example:

For the Bank Account ID BA CASH, enter the description Bank of America Cash.
For the Bank Account ID BA PAYR, enter the description Bank of America Payroll Suspense.
For the Bank Account ID BA INVEST, enter the description Bank of America Investment.

Canadian Bank

Note

The Canadian Bank option and corresponding Micr Line # and Bank # fields only work with the Canadian check format. For more information, refer to Check Format Setup—the table showing Default Check Formats.

Add a check mark if this is a Canadian bank. The Micr Line # field and Bank # fields appear.

If this option is selected and you enter values into the Micr Line # and Bank # fields, then any values in the Transit (ABA) # and Account # fields are bypassed. The check number prints first on the MICR line followed by the values specified in the Micr Line # field.

If the Micr Line # field is empty, the process uses the Transit (ABA) #, Account #, and Bank # values. The Print ON-US is also included in the MICR line (before and after the account #) if the Micr Line # field is empty.

Micr Line #

This field appears only if you selected Canadian Bank on this tab. Enter the Micr Line characters for the Canadian bank in this format TTTTT-YYY-BBBB-AAAAAA where:
T = Transit value
Y = Institution value
B = Branch value
A = Account value

This field is optional for Canadian banks. Refer to Canadian Bank field, above, for more information.

Bank #

This field appears only if you selected Canadian Bank on this tab. Enter the bank number for the Canadian bank.

Transit (ABA) # *

Enter the American Banking Association (ABA) transit number for the bank (the numerical bank routing transit number that appears at the bottom of a check or deposit slip). The system automatically places the 9-digit number between the special Transit MICR symbols.

Account # *

Enter the account number for this bank account (the numerical ID that appears on statements for this bank account, and at the bottom of a check or deposit slip). The system default is to place the 20-digit number between the special ON-US MICR symbols. To change the default, use the Print ON-US (Before)/(After) check boxes on the Check Print tab.

Routing 1/2

Enter the routing numbers used internally by the bank. Leave this field blank if the numbers are not used. This prints in the upper right corner of the check.

Account Type *

Select an account type from the drop-down list: Checking, Savings, Deposit Only. (The Not Set option is not a valid account type. It simply indicates that an account type has not been selected.) When entering invoices, only accounts with an account type of Checking display on the drop-down list for selection.

Last Receipt #

Enter the last receipt number used. Each time you enter a receipt, this number increments. For example, if your last receipt was 1262, enter that number in this field. When you enter your next receipt into this system, the system assigns the receipt number 1263 automatically.

Last Statement

Enter the last statement date using the format mm/dd/yyyy (the system does not automatically update this date). Or use the Calendar Button to select a date. Statement dates are used for bank reconciliation.

Inter-company

This option defaults as unchecked. Accept this default if you do not want this bank account to be used as an intercompany clearing account.

If you want this bank account to be used as an intercompany clearing account, check this check box. When you select this option, check runs for this bank account abide the rule set up for an ICA check; therefore, you must set up a posting rule for an ICA check.

For more information, refer to Posting Rules Overview and Intercompany Transactions Overview.

ACH ID

Enter the automated clearinghouse identification for your bank. ACH IDs are used for electronic remittances into bank accounts; for example, directly depositing payments into a vendor's bank account. This field is used to populate the Company ID field on the ACH Batch Header record when generating an ACH file.

ACH Name

Enter the automated clearinghouse name for your bank. This field is used to populate the Company Name field on the ACH Batch Header record when generating an ACH file.

Cancel

Click to exit without saving changes.

Save

Click to save your changes.

Note

The system automatically adds required symbols where needed for Transit (ABA) # and Account #. However, the following special characters are available to be used with numerical fields.

To print this symbol in the Transit (ABA) #:	Type this character where you want the symbol to appear:
Amount MICR	$
Dash MICR	-
ON-US MICR	/
Transit MICR	&