Bank Reconciliation Tab of the Banks Settings Form

Use the Bank Reconciliation tab to set up miscellaneous charges for your enterprise and to indicate if electronic payment runs will be summarized.

Contents

Field

Description

Summarize Electronic Payments Runs in Bank Reconciliation

Select one of two settings for this option: Yes: Select this setting to summarize all individual payments in an electronic payments run for the bank as a single transaction on the Payments tab of the Bank Statement Reconciliation form, so that you can mark them cleared as a group. You can select Yes only if no existing electronic payment runs for the bank have a mix of cleared and uncleared payments. (In other words, the payments in each electronic payment run must be either all cleared or all selected.) No: Select this setting to display all individual payments in an electronic payments run on the Payments tab of the Bank Statement Reconciliation form, so that you can individually mark them as cleared. Most enterprises base this setting on how the bank shows electronic payments on bank statements.

Bank Entries Grid

Use this grid to view, add, or modify account and project information for the bank entry.

Field	Description
Type	By default, this column displays Interest Revenue and Bank Fees, but you can change or add entries to reflect miscellaneous charges in your organization. You can define up to four bank entry types for every bank.
Account	Enter or select the account that is used for the explicit side of the bank transaction. For example, you can define the expense account for Bank Fees.
Project	Enter or select a project.
Phase	Enter or select a phase.
Task	Enter or select a task.
Transaction Type	From the drop-down list, select Cash Receipt or Cash Disbursement for user-defined charges. By default, Bank Fees use the Cash Disbursement transaction type and Interest Revenue uses the Cash Receipt transaction type.