Set Up Banks and Bank Accounts

The Bank page allows you to add and define the banks, bank branches, and bank accounts used by your municipality. After the banks are entered, users can associate branches with a bank.

To set up or edit a bank and related bank information for use with Chart of Accounts, follow the steps below:

  1. Go to Maintenance > new world ERP Suite > Banks.
  2. Click New to create a new bank record or click a hyperlink in the Description column in the list to edit an existing bank. The Bank page appears.
  3. After you enter the necessary bank information, click Save/New to save the bank information and to add additional data on the selected tab. Click Save after you enter the last record on the tab.

Click Reset at any time to return to the previous state the page was in when the page was last saved.

Expand a link below for more information on the fields available on each tab.

  1. In Bank, type the name of the bank.
  2. In Routing Number, type the bank’s routing number.
  3. In Web Site Address, type the bank’s web site address.
  4. In ACH Bank Name, type name that appears in the ACH money transfer record when this bank is used.
  5. In ACH Clearinghouse Bank, select the ACH Clearinghouse Bank name.
  6. Select the Write Offsetting Deposit Entry check box if ACH transactions (e.g., those created in bank drafting) should create a complementary offsetting transaction. This transaction will put the net amount of the payments in the bank draft of the organization’s account.
  7. Select the Allow Overrides to Defaults check box if the default information from the bank record should be able to be overwritten where it appears on ACH pages (including bank drafting). In most cases this check box can be left unchecked.
  8. Click Save.
  1. Select the Branches tab. The Branches tab allows authorized users to associate each branch of a bank with which their municipality has an account. This information is not required for Chart of Accounts set up.

  2. Click New to create a new branch record or click a hyperlink in the Branch column in the list to edit an existing branch. Enter the necessary information in the fields on the page. See Add or Edit a Bank Branch for more information.

  1. Click Save.
  1. Select the Accounts tab. The Accounts tab allows authorized users to maintain the bank accounts used by their municipality. This information should be maintained if your organization is using Chart of Accounts.
  2. Click New to create a new account or click a hyperlink in the Description column in the list to edit an existing account. Enter the necessary information in the fields on the page. See Add or Edit a Bank Account for more information.
  3. Click Save.

To delete a bank, click Delete. 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.

See Also

Bank List

Set Up G/L Accounts

Set Up G/L Organization Sets