Acute Data Systems

How to create and setup Bank Codes in Sage 100

Resolution

Bank Code Maintenance can be accessed from within the Setup menu under each of the following modules:

  • Accounts Payable
  • Accounts Receivable
  • Payroll

Bank Code Maintenance can be accessed from within the Main menu under each of the following modules:

  • Common Information
  • Bank Reconciliation

Bank Code Maintenance uses:

  • Define bank information for up to 36 separate bank accounts, and use multiple cash accounts when posting cash receipts.
  • Maintain bank codes, descriptions, and bank identification numbers.
  • Define the General Ledger cash account to debit when receipts are deposited.
  • Define the bank address that prints on blank check stock.

Notes:

  • Bank Code “A” is the default bank code. The program permanently assigns “A” to the main bank account; the code cannot be deleted
  • Bank Code “Z” is used during the clearing process. Do not use Bank Code “Z” if you plan on using the A/P from A/R Clearing feature.
  • In the Payroll module, maintain separate accounts, and specify which account is used when performing Payroll Data Entry and Check Printing. Select a bank code, and click MICR button. The MICR Information window opens. Enter the information to be MICR encoded on checks. (Note: MICR fonts must be installed on each workstation)
  • During Accounts Payable System Startup, enter the default bank code defined in Accounts Payable Options. Enter the information for this account before entering bank codes for other accounts.
  • In Accounts Payable, Setup menu, Division Maintenance, if the Cash Account field is populated, then check postings will use that account instead of the Bank Code’s account. That field may be left blank for the system to default to the Bank Code’s account instead.
  • If the Bank Reconciliation module is installed while Accounts Payable or Payroll check processing is in progress, the next check number for the appropriate module appears, and it cannot be changed during check processing.

Setup steps:

  1. Type the code in the Bank Code field, or click the look up button and select one.
  2. For Description, enter the name of the bank or a description of the account
  3. Select the Cash Account Number from the G/L Account List lookup
    • Note: Accounts can be created at this field if Yes or Prompt is selected in the Auto Create when all Segments are Valid list in General Ledger Options.
  4. Enter the Bank Account Number. This number appears on monthly statements and at the bottom of checks.
  5. Enter the Next Check Number for this bank account. This is an optional entry; leave the field blank if desired.
    • This number automatically increments each time a check is issued for this bank code.
    • This field automatically updates when checks are updated.
    • This number cannot be changed when check processing is in progress. After the checks are updated, the number can be reset.
    • This field is available only in Accounts Payable and Payroll if the modules are installed.
  7. Select a Form Type for check printing.
    • This field appears only if the Checks check box is cleared in Accounts Payable Options.
    • Changes made in Check Printing do not update the form type in Bank Code Maintenance.
    • This field is available only if the Accounts Payable or Payroll module is installed.
  9. Select a Default Form Code for check printing.
    • If no code is selected, the first form code on file is used.
    • If the Checks check box in Accounts Payable Options is selected, only default form codes for all users in a company can be specified.
    • Selecting a default form code for graphical forms overrides any form codes defined for specific users in Report Manager.
    • The Default Form Code field is cleared if default form codes are set up, and the status of the Checks check box is changed in Accounts Payable Options.
    • If form codes do not appear, a form has not been created for the current company. The form code, if created, exists in the ###-xxx directory (xxx = the current company code).
    • This field is available only if the Accounts Payable or Payroll module is installed.
  11. The Current Balance is a running total of debits and credits; when first setup this amount will usually not match the balance in the General Ledger cash account because of outstanding checks and deposits that still need to be entered into Checks, Deposits and Adjustments
    • During Bank Reconciliation System Startup, enter the ending balance shown on the last reconciled bank statement for this account.
    • During regular processing, the current balance is maintained automatically.
    • This field is available only if the Bank Reconciliation module is installed.
  13. Enter the Address, Zip Code, City, State, and Country for this bank account.
    • Note: City, State, and Country will be populated if a valid Zip Code is entered.
  15. Enter the bank’s E-mail Address.
    • Click the E-mail button to open the default e-mail program; the e-mail address will appear in the “To” field.
  16. Enter the bank’s URL Address.
    • Click the Web button to open a Web browser with the URL in the address field.
  18. Enter the name of the bank Contact person
  19. Enter the Telephone and Fax Number
  20. Enter a Comment if applicable
  21. Click Accept
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