It is important to setup the bank accounts used by your business so that checks can be written from the very beginning. You will also want to setup accounts for savings and credit card processing.
This task is handled under the Bank Menu, Edit option. The following data fields should be completed for each account:
System Number
Assign a code or number for The Auto Shop Writer to track this account. Usually this is a two character reference that would be easy to remember ( although a lookup list is provided ). This code is usually a number, ie. 01, but could be two letters, like UB for United Bank.
Bank Name
Enter the full name of the bank.
Bank Account Number
Enter the actual account number being utilized. This is the one on your checks and statement.
Current Balance
To enter the current balance in the bank for this account you must make a deposit from the cash account prior to when you start writing these checks.
Outstanding Amount
The system will maintain the total for outstanding checks that have not yet been reconciled through the receipt of a bank statement. This amount is informational and will not affect your data if it is in error.
Outstanding Checks
The system will enter the number of checks currently outstanding ( that have not been reconciled with a bank statement ).
Last Check Number
Enter the last check number you wrote. If you are using a new series of checks, deduct 1 from the first check number in the batch and enter it here.
Bank Debit G/L #
Enter the General Ledger Account numbers in each category to which funds will be deposited ( DEBIT ), and withdrawn ( CREDIT) for this checking account. Some people have all banks sharing one GL number while others track each account separately.
Deposit From G/L #
Enter the General Ledger Account numbers from which the funds will generally be transferred when a deposit is made. Typically, people will have an account called Cash for all of their daily proceeds, and Checks will be transferred from that account. All workorder payments are usually posted into the cash account.
You will need to setup an account for each bank system you use. For most companies, you will have an account for checking, one for savings, and one for credit cards. You may have more than this for your specific business.