How Do I set up a new bank?

Question:

How do I set up a new Bank?

 

Resolution:

The Accounts Payable system allows up to 99 banks (cash accounts) per corporation for check writing (both hand disbursements and computer checks).  If profile option #84-Allow Multiple Check Formats has been activated, there can be specific check formats for specific banks.  For each active bank, identify the checking account# (only if A/P Profile #76, Output Checks to Positive Pay File, is set to ‘Y’), the g/l cash, a/p (must exist in the A/P Accounts File.  Also, see note.), and purchase discount account numbers for posting to General Ledger.  This file also contains the last check# used, the lowest check# for COMPUTER CHECKS, and whether the checks are prenumbered or the system is to number them.  The last check# is updated every time computer checks are issued and for start-up purposes should be set at one less than the first check# you want to start with.  The lowest check# is entered so that there is no conflict of computer issued and hand check numbers.  Hand check numbers MUST BE LESS THAN the lowest check# entered UNLESS the A/P Profile has been set up to allow the use of one series of check numbers for both hand disbursements and computer checks. Use F14=Valid Applications to indicate the application(s) in which this bank# may be used.  Choices are A/P, A/R, Payroll and Misc. Cash.  Use F16=A/P Check Overrides to enter the specific check format data (if profile option #84 mentioned above has been set to ‘Y’).  Contact your DAPREX representative for that information.  See sample screens that follow.

 

* Fund        . . . . . . :      1 DAPREX INC.                               

  Bank #  . . . . . . . . :      1                                           

 

    Bank Name . . . . . . . .       UNION TRUST
    Checking Account #  . . .         123456789                                     

  * G/L Cash Acct#. . . . . .   100500 CASH on HAND -chase M.                

  * G/L Disc Acct#. . . . . .     410000 PURCHASE DISCOUNTS                      

  * G/L A/P Acct# . . . . . .      200000 ACCOUNTS PAYABLE

    Last Check# . . . . . . .     955571                                        

    Lowest Check #. . . . . .   20000                                        

    Pre-Numbered Checks . . .   Y                Y=Yes, N=No                   

    Notes Y/N . . . . . . . .                   Y                Y=Yes, N=No                   

    last f/d advice# . . . . .
    Delete. . . . . . . . . .                    D=Delete                      

 

Valid for:    Accounts Payable  . .. . .      N    Y=Yes, N=No

                        Accounts Receivable . . .    Y    Y=Yes, N=No

                        Payroll . . . . . . . . . .                Y    Y=Yes, N=No
                       Miscellaneous Cash  .  . .     Y    Y=Yes, N=No

 

A/P Check Print Overrides                

 lIBRARY  . . . . . . . . . . . . .

 Program . . . . . . . . . . . . . . . .

 Printer file  . . . . . . . . . . . . .

 Form type . . . . . . . . . . . . . . .                   

 Stub lines + 1  . . . . . . . . . . . .                   

 Printer ID (optional) . . . . . . . . .            

 

**NOTES**  If multiple A/P Liability accounts are being used, the system will debit the correct account(s) when posting to G/L as a result of check writing.  All valid A/P liability account numbers MUST exist in the AP Accounts file.  The last f/d advice# field appears only if the profile regarding foreign currencies has been activated.  It should be set to 950000 and will be updated by the system each time a foreign currency disbursement is made. See the note under the Corporation Master File regarding the posting of discounts.