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 gener 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.  

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 abbriviation 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.  

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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)