Bank Matching
Certain general ledger accounts can be defined as bank accounts - as many bank accounts as needed can be defined. The following screen is accessed from the Setup->General TAB->Bank Accounts
General ledger accounts defined as bank accounts can be reconciled to bank statements using the matching facilities. Entries made to bank accounts using receipts or payments, also create a total receipt or payment, which is retained for the purposes of matching off the bank statements. Using the bank payments page, general ledger payments can be analysed to any number of other general ledger accounts, but only one entry to the bank account is made. This page also allows payments to supplier accounts to be created. Similarly, using the receipt entry page, a series of receipts from customers which may all have been banked together can be deposited as one amount to a bank account. There is only one amount appearing on the statement as the total of all these receipts, this bank account transaction is created and available for matching deposits off the bank statements. To match payments for example the user clicks on General Ledger TAB of the main menu -> under the transactions TAB of the general ledger menu click on the Bank Payments Matching:
Once all receipts and payments are matched to bank statements, the bank reconciliation statement can be printed which should show how the current general ledger balance reconciles to the bank statement for this account.
Bank accounts are defined from the setup tab from the link to Bank Accounts Maintenance. There is facility to enter the name of the account, the bank account number and the address of the bank if required, as well as selecting the general ledger account to which it refers. There are links to edit existing bank account records and to delete them. However, once defined as referring to a particular general ledger code it is not possible to change the general ledger code of the bank account. This is because there would be entries made to this account. Similarly, if bank transactions have been created using this bank account it is not possible to delete it. The bank account transactions must be purged first (but currently no facility exists to purge bank transactions).
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