Options Tab of the Banks Settings Form

Use the Options tab to set up the bank codes and accounts, as well as set up wire transfers and process payments for your enterprise.

Contents

Field	Description
Description	Enter a description for the bank code. Each bank code must have a unique description.
Code	Enter an alphanumeric code of up to 10 characters to identify this bank account. For example, FirstNatl could be the code for your checking account at the First National Bank). Do not use punctuation such as /, -, or ; or spaces when you enter a code. If you use punctuation, errors occur when you process data.
Import Enabled	Set this option to Yes to enable the Import tab, which you use to import bank statements directly into bank statement reconciliation and to enable the fields that are used to set up how Vantagepoint identifies the data in the import file.
Currency	After you enter an account in the Account field on this tab, Vantagepoint auto-populates the currency code that was specified for the account in Settings > General Ledger > Chart of Accounts. This is the currency in which the bank account is denominated.
Account	Enter or select the general ledger account number associated with this bank code. This account receives the implicit posting when the bank code is specified in data entry. The account that you enter here must be a balance sheet account. Deltek recommends that you have a different general ledger account number associated with each bank code, regardless of whether or not you use the Organization application.
Organization	Enter or select the organization to use when transactions are posted to this bank code. If you set up multiple companies, the selections available in this lookup are based on the active company displayed at the top of the form. If that company is not the company for which you want to specify the bank code, select the correct company from the drop-down list on the Vantagepoint toolbar.
Export to Text Format	Select the format to use for creating an output file that contains payment information when you process a vendor or employee payment run. The file is created when you click the Export to Text action on the Printing and Numbering page in Cash Management > Vendor Payments and in Cash Management > Employee Payments. The file format options are: Check: Select this option to create a predefined text (.txt) file that contains the payment information for a payment run. You can use this .txt file to print your checks with, for example, Troy security solution products. This .txt file is not to be confused with the check template and formatting that you select on the Payments tab in Settings > Cash Management > Accounts Payable and in Settings > Expense > Payments. The check template/formatting entered in Settings is used when you click the Print Payments action on the Printing and Numbering page in Vendor Payments and Employee Payments. User Defined: Select this option to create a user-defined .txt file that contains the payment information that your bank requires. This option is commonly used to create a .txt file with payment information to import into your banking software to process payments electronically. You can use this option for the electronic funds transfer (EFT) requirements of many international banks. Select this option if you make electronic payment using ClieOp. Then select the ClieOp option on the User Defined File Format tab, and complete the information on that tab. SEPA: This is the Single Euro Payments Area (SEPA) .xml file format that is commonly used in European countries. When you select this option, the SEPA File Format tab is enabled on this tab. Enter additional information for the SEPA file format on this tab. This format produces an XML file that contains the SEPA service level code. You can also use the SEPA format for other service level codes, such as SDVA, URGP, or NURG. To use the SEPA format for other service level codes, after the XML file is generated in the export-to-text process, edit the XML document and replace the SEPA service code level with another code

Wire Transfer Fee Debit

Field	Description
Account	Enter or select the account number to use for a wire transfer.
Enable In-Process Account	Set this option to Yes to enable the In-Process Account feature, which allows you to delay posting payments to the general ledger until the payments have cleared this account. This helps you determine the amount of cash that has not yet cleared your bank from the payments that you process in Vantagepoint. When this feature is enabled, the in-process account is credited instead of the account that is entered for the bank in the Account field on this tab when the following transactions are posted: Vendor payments Accounts payable disbursements Cash disbursements Employee expense report payments Payroll payments Several things happen when you process payments that are made with the in-process account. When you select the Cleared check box for the payment, a Process Cleared Items option is enabled on the Payments tab in Cash Management > Bank Reconciliation. Click this option to open the Post Cleared Items dialog box and post the cleared items. A journal entry is created that debits the in-process account and credits the balance sheet account that is entered in the Account field for a bank.
In-Process Account	This field displays when you set the Enable In-Process Account option to Yes. Enter or select the account in this field. Amounts in this account have not yet cleared the bank and will not post to the balance sheet until after they are cleared on the Payments tab in Cash Management > Bank Reconciliation. The in-process account must be available to the same company as the bank code’s assigned organization, and the currency of the account must also be the same as that of the bank code.
Project	Enter or select the project name to use for a wire transfer.
Phase	If phases exist, enter or select the appropriate phase.
Task	If tasks exist, enter or select the appropriate task.