Accounting - Banking

BANKING HOME

Banking in Accounting is designed to view your deposits and payments. You can do your transactions through banks. You can add the bank account either in bank section or accounts section. You can create accounts through Accounts section in the Accounting module.

Select the Accounting >> Banking link from menu bar, or from the left menu to display the Banking home page. The screen refreshes by displaying the Banking home page.

In Banking home page, you can find the list of active chart of bank accounts, which provides the financial details that are related to your corresponding banks.

1. The details of the banks are displayed under the following columns: Name, Account Number, Parent, Type, Location, Department and Balance Total.
2. Under each column, corresponding details are displayed.
3. You can create new bank account using the Create New link available in the Banking home page. 
4. Click on the ‘Add Transactions’ link provided in the strip bar, for making payments through checks. 
5. Double click on the desired bank account, to view the details.

CREATE A NEW BANK ACCOUNT

You can create a new bank account using the Create New link available in the Banking home page.

To create new bank account, do the following:

Click on Create New link. The system displays the form to add new bank account.

In the above screen,

1. Specify the account number in the Account Number text box.
2. Enter the bank name in the Name text box. This is mandatory.
3. Specify the location, department details in the fields provided. Click on edit list links available beside the Location and Department drop-down lists to add/edit/delete the location and departments.
4. Specify the sub account details if required.
5. Enter the description and notes for the new bank account in the respective fields.
6. Specify the opening balance amount in the text box.
7. Click on the ‘Save’ to save the new bank account type.
8. Click on the ‘Close’ to close the new bank account screen.

Editing Bank Account

1. Select the required account record you wish to edit and click Edit link. The system displays the account record in edit mode.
2. Make the required changes and click Update to save the new changes.
3. Click Close link to close the account screen.

Deleting Bank Account

1. Select the required account record you wish to delete and click Delete link.
2. You are prompted for confirmation. Confirm the deletion in the prompt.

Note: You cannot delete the accounts that are associated with account transactions and also the default accounts.

ADD TRANSACTIONS

In Banking screen, you can do your payments by clicking on the ‘Add Transactions’ link. Enter all details such as account name, check number and amount to be paid to the selected account and click on the ‘Add Transactions’ link.

You can make payments to various parties by selecting the required account using the ‘Add Row‘ link in a single page. You can delete the payment and recalculate the payment details. You can add new bank accounts in banking section as well as in accounts section.

Click on the ‘Add Transactions’ link from the Banking home page. The screen refreshes by displaying the Add Transactions screen.

The refreshed screen displays the following:

1. Select the bank account from the Bank Account drop-down list.
2. By default current date is displayed in the Transaction Date textbox. Alternatively, you can use the calendar icon to specify the date.
3. Initially the screen has the following links: ‘Add Row’ and ‘Add Transactions’ links respectively.
4. Select the required party from the Payee drop-down list.
5. Select the account from the Account drop-down list.
6. Enter the description in the Memo text box.
7. Enter the checknumber in the Check No. text box.
8. Enter the amount to be paid in the Amount text box.
9. Click on the ‘Add Row’ link to add the row, and make payment to another party, in the add transactions page.
10. One more link ‘Delete Row’ will get added to the strip bar.
11. To delete a row, select the check box near the desired record, and click on the‘Delete’ Row link to delete the row.
12. You can add a new bank account from Bank Account drop down list. 
13. Click on the ‘Add Transactions’ link to make the payment. The add transactions screen refreshes by making the payment.