Creating a cash account

Cash account types include: operating account, investment account, and debt account. An operating account is an everyday account used for business transactions or activities. An investment is an account used to invest, such as a Certificate of Deposit. A debt account is an account used to help finance an organization and needs to be paid within a certain time frame, such as a Line of Credit Account.

  1. Access Treasury Administrator > Cash Setup > Cash Accounts.
  2. From the Actions menu, select Create.

    Use the following guidelines to enter field values:

    Account

    Type the account number.

    Title

    Type a title for the account.

    Financial Institution

    Select from the list of institutions.

    Branch

    Select from the list of branches.

    Electronic Routing Number

    Specify an identification number to identify the financial institution upon which a payment is drawn.

    Branch SWIFT

    Specify a unique identification code to be used when transferring money between banks.

  3. On the Detail tab, use the following guidelines to enter field values:
    Description

    Description of the account

    Open Date

    Date the account is opened

    Close Date

    Date the account is closed

    Company Location

    Select from the list of available locations.

    Currency

    Select from the list of available currencies.

    IBAN

    Number used by international banks to identify institutions

    Account Type

    Select the account type (Operating, Debt, Investment) from the list.

    Note: 

    Form fields will change depending on account type.

    Legal Entity

    This is a GL Code.

    Cash Code

    Select from the list of cash codes.

    Cash Account GL

    Select the Infor Lawson GL cash account corresponding to this cash account.

    • Company: Select from the list of companies.

    • Accounting Unit: Select from the list of accounting units.

    • Account: Select from the list of accounts.

    Default Journal Description

    To select a default journal description variable, right-click on the field and select Variables > Cash Account or Category. A hard-coded value can also be added to the selected Cash Account or Category option.

    Statement Line Classification

    Select the process used to classify statement lines.

    • Use Processing Rules: Selecting this option requires Custom Groups and Processing Rules to be set up. This option is more likely to be used with Reconcile To Forecast.

    • Default From Account: Selecting this option requires a category. This option is more likely to be used with Reconcile To Cash Ledger or Reconcile To Other System.

    Cash Position Target

    Optional. Type the amount for the Cash Position Target.

    Collateral Restriction

    • Restricted

    • Partially Restricted

    • Unrestricted

    Checks Issued

    Select the check box if checks are issued from this account.

    Electronic File Transmission

    Select the check box if wire transfers are issued from this account.

    Note: 

    Selecting this check box is the only way to access the Import tab.

    Active

    Indicates if the account is active or not

  4. On the Reconciliation tab, use the following guidelines to enter field values:
    Note: 

    In the stand-alone setup, only Reconcile To Other System and Reconcile to Forecast are available.

    Reconcile To Cash Ledger

    Select Not Reconciled, Primary, or Secondary.

    Reconcile to General Ledger

    Select Not Reconciled, Primary, or Secondary.

    Reconcile To Other System

    Select Not Reconciled, Primary, or Secondary.

    Reconcile To Forecast

    Select Not Reconciled, Primary, or Secondary.

    Reconciliation Method

    Select the reconciliation method.

    Note: 

    If Use Reconciliation Match Rules is selected, the Reconciliation Match Group field becomes available.

    Auto Reconcile Statement Lines

    Select the check box to automatically reconcile statement lines when imported.

    Note: 

    When the bank statements are loaded and the bank statement lines are categorized, the system will load the statement into the reconciliation file and run the reconciliation action automatically.

    Tolerance Percent

    Percent that accounts are allowed to exceed

    Tolerance Amount

    Amount that accounts are allowed to exceed

    Reconciliation Variance GL

    Select the GL account to which variances will be posted.

    Note: 

    These fields are not used for the Reconcile To Cash Ledger account. Variances will be posted in Infor Lawson Cash Ledger (using CB30).

    • Company: Select from the list of companies.

    • Accounting Unit: Select from the list of accounting units.

    • Account: Select from the list of accounts.

    • Activity: Select from the list of activities.

  5. On the Import tab, use the following guidelines to enter field values:
    Import Account

    This field will be automatically populated.

    Import Notification

    • Resource: Select this check box to send import notifications to a resource.

    • Team: Select this check box to send import notifications to a team.

  6. Click Save.

    Once you have saved the cash account you just created, six new tabs will be accessible: Resources, Lockboxes, Correspondence, Account Access, Documents, and Comments.