The Company>Bank and Credit Card Setup screen enables you to add bank or credit card information to an existing account, or edit, or delete a previously-configured bank or credit card account.
When you open the Bank and Credit Card Setup screen by clicking an existing account on the Banks and Credit Cards screen, the screen appears with some fields populated with previously-defined information for the bank or credit card account you selected. You can edit the fields of this screen as needed. To add a new account, instead of working with an existing account, click the add icon from the action bar at the bottom of the Bank and Credit Card Setup screen.
When you open the Bank and Credit Card Setup screen by clicking the add icon from the action bar of the Banks and Credit Cards screen, a blank setup screen appears. Enter account information in the fields of this screen.
To add or edit account information:
Select the Bank or Credit Card radio button in the Account Type field to indicate the type of account you want to set up.
Use
the drop-down list in the Cash Account or Credit
Card Account field to
select the account for which you are adding information if it is not
already selected.
Note: If
the drop-down list is empty, add the account on the Chart
of Accounts>Account List screen.
Click the Setup
icon
from the right-hand side vertical menu and select Chart
of Accounts>Accounts to
see the Account
List screen.
Enter or verify the bank or credit card details, for example,
bank or card name, credit card number, and address.
Note: If you have multiple credit cards of the same type, be
sure to enter a unique name for each account.
Some fields are described below. Edit or add to the fields as needed.
Primary Bank or Primary Card: If this is your primary account for banking or credit card transactions, select the checkbox.
Inactive: If the account is not active, select the checkbox. Inactive accounts exist in the system but cannot be selected for transactions.
Registered for Bank Feeds: This checkbox is selected if the account is linked to a Bank Feeds account.
Registered Merchant Account: This checkbox is selected if the account is linked to a Merchant Account.
Digital Checks Enabled: Select Digital Checks Enabled if you want to use digital checks.
Fraction: The number in the upper right corner of pre-printed checks (for example, 123-45-678). The fraction represents the bank's ABA (American Bankers Association) transit number and its Federal Reserve routing number. If the account's pre-printed checks do not have a fraction, leave this field blank.
Routing Number and Account Number: The identifying numbers at the bottom of checks, typically, the 9-digit routing number followed by an account number.
Service Charge Account and Interest
Income Account: The expense and revenue accounts used for
recording bank charges and interest income.
Note: If you set up a Merchant Account linked to
this bank account, you must select a Service
Charge Account to ensure that Merchant Account fees
are properly identified and recorded.
Starting or Next Check Number: The first check number to assign for this account. Check numbers are automatically assigned to checks generated from the Check Writing function based on this number. You can change this number at any time to reset your check numbers.
First Reconciliation Month Begin: If you do not need to reconcile periods before a certain date (for example, if you import transactions for a period you have already reconciled), you can click Change Date to set the first date for the bank reconciliation using the system. Any date of the month from 1 to 28 is valid. (For example, you can enter 01/05/YYYY, but not 07/31/YYYY.)
Finance Charge Account: The expense account to use for credit card charges.
Vendor: Vendor associated with the credit card.
First Reconciliation Month Begin: Date for the start of first period.
Click Save to save the account data you entered.
To toggle between existing bank or credit card account information while working on the Bank and Credit Card Setup screen, click the Bank or Credit Card radio button in the Account Type field, and select the account you need from the Select drop-down list that appears.
To return to the Banks and Credit Cards screen to see the list of accounts already set up for banks and credit cards, click the list icon from the action bar.
To delete account information, click Delete from the Related Actions panel of the Bank and Credit Card Setup screen.