Setting Up Bank Accounts

From the Main Menu screen, click SETUP and then BANK ACCTS. The Select Bank Account screen appears with all bank accounts displayed in a table.

Click

on the toolbar. The Maintain Bank Account screen appears.

Enter Bank Info

Enter the bank account ID and the bank account’s description.

Select the ledger account number (the GL account that corresponds with the bank account, usually an account with a line item segment of 1111) and check the restricted bank account access checkbox if you want to limit access to the account.

Select the AP accrual account number (the GL account to which accruals should be applied) and enter the TIN (tax identification number).

Enter the next paper check number and next $0 check number.

Enter Export File Specifications (if necessary)

You only need to enter export file specifications if direct deposit (ACH) is enabled for the bank.

Select the export format (either none, comma separated, or another bank’s previously set up format), and enter the export file name.

Enter Direct Deposit (ACH) Info (if necessary)

You only need to enter direct deposit information if direct deposit (ACH) is enabled for the bank.

Check the checkbox to enable direct deposit (ACH) for this bank.

Enter the bank name, bank routing #, and the bank account #.

10.

From the information provided from the bank, enter the bank’s federal reserve name and federal reserve routing #, select the direct deposit (ACH) format (this is the type of file format the bank requires, PPD = Prearranged Payment or Deposit; CCD = Cash Concentration or Disbursement), specify the company TIN prefix - file (enter a “1” unless otherwise specified) and batch, immediate origin, and transmission file prefix data (this is a communication header for banks that use a system of file transfer other than a direct upload, such as a dial-up modem).

11.

In the remaining fields, fill out as much information as possible.

Can include tax deposits

Bank generates entry to this account - A balanced file shows both the payments to the employees and a final line to take the money from the Housing Authority's account. If you check this box, the final line is not included in the file and the bank will manually enter the transaction to take the money from the agency's bank account. Again, this is determined by the bank's way of doing business.

Treat federal reserve as origin - Some banks want the bank flagged as the immediate origin, but on a second line show the federal reserve ID and routing number.

Fill settlement date with blanks not zero's - On the second (number 5) line, there is a space for the settlement date, or the date the file is processed. Normally this is filled in at file creation with zero's, but some banks want this left blank.

Next direct deposit number

Next reference code number

Exclude reference code from file

Next batch number

Next trace number

Note: Most fields on this screen are required; the Transmission File Prefix Data is required by only 2 different banks. It is very important to enter the information exactly as it was received from the bank to ensure payments will be correctly processed.

12.

Click

to save and apply your changes.