Bank Accounts Overview
The Bank Accounts screen is design to allow users to handle Bank Reconciliation. In this screen, users will associate the GL accounts to the banks that they are associated to.
Example
If there are a total of 5 general ledgers entered into the Softrip Accounting screen, then users will create 5 lines of data to account for each General Ledger that is associated to the bank.
This screen is accessible under the "setup" menu under the account subsystem.
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Defining the fields
Company ID
Search for the existing company as it relates to the bank. Company ID's uniquely identify this company.
Bank ID
The Bank ID uniquely identifies the account in the bank. This is usually an abbreviation of the bank and account type.
Example
BofACheck or CitySave
Bank Name
This the name of the bank account.
Example
Bank of America - Checking.
GL Account
Enter the GL that represents the bank account. The balance in this account will be reconciled against the Bank Statement. GL accounts available here are pulled from Chart of Accounts.
Currency
The currency used by the Bank
Account Number
The account number assigned by the bank and what would appear on the Bank Statement. This is not a required field.
Account Name
The account name assigned by the bank and what would appear on the Bank Statement
EFT Auth ID and Sorting Code
A sort code is a number code, which is used by British and Irish banks. These codes have six digits, and they are divided into three different pairs, such as 12-34-56. These codes, like many other bank codes, are used to identify the location of the bank where the account is held.
Contact
Contact person at the Bank (internal reference only)
Phone Number
Phone number of bank contact. (internal reference only)
Notes
Any additional information about the Bank Account. (internal reference only)