CR Bank Setup overview

Check Reconciliation > Setup > Bank

Function acronym: CRSB

Use this page to set up all banks to be used to post cash postings throughout the General Ledger, Customer, Vendor, and Sales modules.

Set up each bank account with a unique bank number. For example, set up three bank numbers with separate General Ledger account codes if separate bank accounts exist for petty cash, business expenses, and savings.

Conduct a search to locate an existing bank record to maintain, or click New to create a new one.

Note:  Even though you set up General Ledger Bank account codes, Check Reconciliation is not updated with transactions until you define the bank numbers in this function.

In a multiple-company environment, set up bank records for each company.

The relationship between General Ledger and Check Reconciliation does not necessarily have to be on a one-to-one basis. You could have several General Ledger account codes that update one Check Reconciliation bank. You could also have one General Ledger account code that updates several Check Reconciliation banks. If this is the case, you cannot balance the General Ledger account codes to specific banks.

Note:  Do not manually change the Current Balance and Bank Balance fields. Post necessary adjustments through CR Check Center Entry. Do not change the Last Numbers Used fields because the system automatically adjusts these numbers incrementally. If you manually change them, they will be out of sequence and part of the audit trail will be lost.

Cash postings you make in these functions use a cash General Ledger account number:

  • Sales Order Entry Tendering and Receive on Account
  • Vendor Invoice Center Entry - Manual Payments and Immediate Pays
  • Vendor Entry Pay Invoices Due Report
  • Customer Cash Receipt Entry

The Cash GL account makes cash management easier for companies with one or more cash accounts for each branch. For example, if your company operates in a counter sale environment, each branch maintains a starting amount of cash. As sales occur, cash accumulates in the cash drawers. At the end of the day, gather receipts from the drawers and deposit them in the branch bank.

Use these three General Ledger account codes established for the previously described situation:

  • Starting Cash Drawers (balance would not change)
  • Cash Tendered (cleared nightly to Cash in Bank)
  • Cash in Bank (General Ledger transactions match deposits/transfers)

The Cash Tendered General Ledger account should be the same account indicated in the CR Bank Setup record, because each record can be set up for each branch. A GL Transaction Entry transaction is processed each night to clear this account and to transfer the balance into the Cash in Bank account. Each deposit represents total receipts per drawer and not individually tendered receipts.

After you finish creating CR Bank Setup records, print the accounts through CR Bank Master List Report to verify that the information is correct.

When you delete a bank record, the system deletes all history records for that bank.

An operator must have security access of level 4 or higher to clear check runs.

Prerequisites

You must specify information in these functions before you set up bank information:

  • SA Company Setup
  • SA Operator Setup
  • GL Account Setup