Add or Edit a Bank Account

1. If the bank branch is active, select the Active check box. This check box is selected by default.
2. If available in Branch, select the active branch for the selected bank. See Add or Edit a Bank Branch for more information.
3. In Account Code, type a code which is typically an abbreviated description of the Account Description, for example: Payroll Clrg.
4. In Account Description, type text to describe the type of account, for example: Payroll Clearing.
5. In Account Number, type your municipality's account number at the bank.
6. In Account Type, select they type of account, either Checking or Savings.
7. Select the Email Payment Confirmations check box to enable the feature of sending email notifications to payment recipients. When you click Save, the Email Payment Confirmation tab is enabled.
8. Select the Use Confirming Manual Check Numbers Only check box if your organization wants all check numbers for the bank account to be entered manually. No system-generated check numbers will be assigned for this bank account. When selected the Check Format and EFT Format fields are disabled.

1. If your organization uses warrant processing, the Payment Issue Format field is enabled. The options are either Warrants or Checks. Depending on which is selected, the system generates the appropriate journal entries when payments for the bank account are issued, reconciled, or voided.
2. Select the Check Format used for the bank (e.g., stub on top, stub on bottom, etc.). This field is disabled if the Use Confirming Manual Check Numbers Only check box is selected. These values are defined by your organization in Validation Set 22, Check Format.
3. In Next Check Number, type the next check number to use when creating checks through the system. The entries can only be numeric.
4. In EFT Format, select the stub format used for electronic fund transfer transactions. This field is disabled if the Use Confirming Manual Check Numbers Only check box is selected. These values are defined by your organization in Validation Set 23, EFT Stub Format.
5. In Next EFT Number, type the next tracking number to use when performing electronic fund transfer transactions.
6. The Next Payment Batch Number displays the next number that will be used when creating payment batches.
7. In Expiration Period, type the number of days through which the check is valid.

Your organization has the ability to flag an account as a Zero Balance Account (ZBA) and assign it to a master clearing account.

This information is used in the payment reconciliation process to generate bank reconciliation Wire Transfer transactions that can be reconciled at the end of the banking period. Bank Reconciliation is a prerequisite for this functionality.

1. Select the ZBA Account check box if the bank account is a Zero Balance Account. These accounts start and end the business day with a zero balance. A sweep account - the bank account specified as the Main Account - transfers money into the ZBA account each day to cover the checks or warrants presented for reconciliation that day. Monies in the Main Account are typically invested rather than kept sitting idle waiting for payments to clear.
2. In Main Account, select the account that represents the sweep account that monies are transferred from to cover checks and warrants reconciled for the bank account on a given business day.
3. Select the Auto Create Wire Transfer if a bank reconciliation wire transfer transaction will be made in conjunction with posting the Payments Reconciliation Batch.
4. If bank reconciliation wire transfer transactions will be generated as part of the Payment Reconciliation Batch post, in Wire Transfers Created Interval, select one of the following options:
   • One per Batch – if a single set of wire transactions will be made from the Main Account to the Bank Account regardless of the reconciliation date.
   • One per Day/Per Batch – if a distinct set of transactions will be made for each unique reconciliation date specified on a reconciliation transaction in the batch.

1. In Percent Interest Paid, type the interest paid to the bank for any outstanding loans held with the bank. It is used primarily with Warrant Processing. The percentage displays in a 3.2 format (e.g., 123.45 will display as 123.45%). The percentage will be stored in the database in a 1.4 format (e.g., 123.45% will be stored as 1.2345).
2. In Percent Interest Earned, type the percentage rate offered by the bank. This is used for discount analysis.
3. In Check Validation enter the four lines of text that prints the rubber stamp deposit information on the back of a check. Each line allows entry of 32 characters. When more than 32 characters are entered on one line, the text automatically wraps to the next line. When 6 lines of 32 characters are entered (or 192 characters), any additionally entered information will be truncated during entry and printing.

   Check Validation - Preview displays a sample of how the check validation information will be printed on checks.

1. In Cash, select the cash account number for the selected bank account.
2. In Accounts Payable, select the accounts payable account number for the selected bank account.

If the Company Suite Settings for Warrant Processing is selected, the following additional fields appear in this section. These override accounts are used like the existing override Cash and Accounts Payable accounts are used. If an account is entered here, it is used instead of the Cash or Accounts Payable account defined at the Fund (Organization 1) level when offsetting entries are made for a transaction that is associated to the bank account.

3. If the Warrant Processing Accounting Environment is Hit cash when warrants are issued, the "Offsetting Warrants Payable" and "Prepaid Warrants" fields are displayed. The label for each field is based on what the authorized user specified in the system setting.
4. If the Warrant Processing Accounting Environment is Hit cash when warrants are redeemed, the "Warrants Payable" field is displayed. The label for the field is also based on what the authorized user specified in the system setting.

The system can store default message information per bank account and payment batch type. This allows for standardized email messages to be created for user efficiency. Email notification can be sent to both check and EFT recipients and applies both to Accounts Payable and Payroll.

1. Select the Email Payment Confirmation tab.

2. Click New to create a new email confirmation or click a hyperlink in the Default Subject Line column in the list to edit an existing confirmation. See Email a Payment Confirmation for more information.

While you are on the Accounts List page, select an account in the list to highlight it and click Delete.

Note: Be sure to click the top Delete button to delete an account; the bottom Delete button deletes the entire bank record.

The Delete button is hidden or disabled if you do not have the appropriate security permissions. If you are authorized, when you click Delete you are prompted to confirm the deletion.

User-based Security allows authorized users to assign security permissions to various functions in the system for a specific user.

1. Go toMaintenance > new world ERP Suite > Security > User-Based Security.
2. Select the User that should be granted access to the bank account.
3. In Function, select Bank Accounts.
4. Select the applicable Available Bank Account(s) and move it to the Authorized Bank Accounts list.
5. Click Save.