Use the Bank Account record to set up the bank accounts your company would like to track, add deposits to, and use to pay checks.
Bank Accounts
- You should associate a single general ledger (GL) account with each bank to track amounts in your financial statements
- The Bank Account record is also a resource for viewing or adjusting your bank account balance and viewing a summary of the latest bank reconciliation activity
- G0 to Settings > Value Lists > Other Value Lists (A-L) to see a list of bank accounts, edit a bank account, or create a new bank account
Bank Account Fields
| Field | Description |
| Active check box | To view an inactive account, make it active first. |
| Bank Account Code | Three number code that identifies the bank account. An entry in this field is required. |
| Name | Description identifying the bank account. An entry in this field is required. |
| Cash GL Account | General Ledger account associated with this bank account. You should associate a single GL Account with each Bank Account. These Bank Account GL Accounts can be reported on as an Account Group if desired or shown individually on the Financial Statements. Click the look up button to bring up a list of GL accounts from which you can select the correct GL account number. |
| Account Balance | Current account balance. Adjust the balance during the Bank Reconciliation process. This will populate from the starting balance of Cash GL Account |
| Bank Account No | Your company’s account number with the bank. This is the account number on your bank statements and checks. |
| Routing No | Bank’s ABA or Swift routing number. This a nine-digit number printed at the bottom of the check stock along with the bank account code and the check number. |
| Primary Contact | Name of contact person at bank or notes about contacting the bank. |
| Telephone Number | Telephone number for the bank. |
| Email address of the bank or primary contact at the bank. | |
| Bank Address (line 1) | Bank’s address. |
| Bank Address (line2) | Second line of bank address, if needed. |
| City | Bank address city. |
| State | Bank address state |
| Zip Code | Zip code for bank address. An entry will populate the state and country fields. |
| Country | Country code associated with the state. |
| Currency | Currency associated with the country. |
| Exchange Rate | Exchange rate. |
| Recent Exchange Rate | Shows the most recent exchange rate and the date it was last updated. |
| Last Check | Displays the number of the last check printed. During the check printing process, the next check number will be available and you will have an opportunity to specify the numbers of the checks being printed. |
| Statement Date | Shows the date of last bank statement that has been indicated in the bank reconciliation process. |
| Reconciliation Balance | Shows the ending balance from the last bank reconciliation. |
| Reconciled On | Displays the date of the last bank reconciliation. |
| Reconciled By | Shows the name of the person performing the last bank reconciliation. |
| Foreign Currency/US Dollar Buttons | Designation of US Dollar or Foreign Currency. |