Bank Setup - Account Setup

Type the bank name and address. The name must be unique to all other bank accounts entered in the system.
Example: State Bank - Trust Account

Type a meaningful short name up to 6 characters in length. Example: STTR1

Type the bank's complete web address. The system formats the information as a web site link.

Type the business phone and fax numbers for the bank's customer service department or branch office.

Select Operating or Trust as the bank type.

Select this check box to inactivate the bank. This hides the bank name in drop-down lists.

Use as Default Trust/Operating Bank: If the bank account Type is Trust, this option is labeled Use as Default Trust Bank. Select this option if you want this bank to default for specific types of checks and cash receipts, where trust accounts are used. If the bank account Type is Operating, this option is labeled, Use as Default Operating Bank. Select this option if you want this bank to default for specific types of checks and cash receipts, where operating accounts are used.

Check Approval Required:Select this checkbox if you want a two-step process, where one user creates a check and a second user approves and posts that check. Default is unchecked

Handwritten checks only: Select this check box if you do not plan to issue computer-printed checks from this bank account. If this check box is selected, Electronic Funds Transfer (EFT) transactions can also be created for this bank.

Default starting check number for handwritten and printed: Select this check box, and then type the check number of the first check to be used in the system for this bank account.

Type a note about the bank in this optional Note field.

Example: If you mark a bank as Inactive, enter a note about the reason for doing so.

Select the agency division associated with this bank account.

If your agency uses divisional accounting, you must have separate bank accounts for each division. There is no cross-divisional posting of banking transactions.

Type the number assigned by the bank to identify your account. This number defaults into certain reports, such as the Bank Deposit Slip.

A unique number that identifies the bank. Check with your bank to confirm this number.

Select the general ledger asset account number where all of this bank's account transactions post.

If you did not set up the bank account general ledger number before entering the Bank form, click the GL Chart of Accounts Setup link, and complete the setup screen to add the general ledger number. Then, return to this field in the bank form, and select the appropriate GL Number.

If the bank account you are setting up does not yet have an associated GL chart of account number, click GL Chart of Accounts Setup. This takes you to the Chart of Accounts data entry form where you can setup the new general ledger chart of account number.

Click the Save and Close icon. This takes you back to Bank Setup where you can now select the GL Number for the new bank account.

Type an amount from your previous system, equal to the sum of all open (uncleared) transactions, for this bank account. AMS360 assumes you will have more outstanding deductions (checks) from the account than additions (deposits) to the account. This amount is then entered as a positive number.

When a bank statement is created for this bank, the conversion open items amount is pulled to the Conversion Open Items (from bank setup) field in the Conversion Items section of the Bank Reconciliation data entry form. There, it is reconciled as conversion items clear.

How to Enter the Outstanding Conversion Amount:

• Outstanding Additions (Deposits/Interest): -10,000
• Outstanding Deductions (Checks/Charges): 30,000
• Conversion Open Items Amount: 20,000