BANK ACCOUNTS

Main Menu > Accounting > Bank > Bank Accounts

The Bank account information will be displayed in Dashboard format to show all banks, cash and cheque account codes by showing statement balance and accounting balance in account currency. Statement Balance is the actual balance of bank statements that import and reconcile with account transactions in the Netforce. Accounting Balance (Cur) is balanced from all accounting transactions.

Multiple bank accounts can be configured in the system. These bank accounts can be multi-currency.

Can add a new account click on the New Account button, then select the account type as Cash, Cheque or Bank Account and fill in the required. Once done can be saved.

Notes: Creating an Account is the same page as creating a Chart of Accounts. Can see more setting the Charts of Account here.

Manage Accounts

These accounts can manage additional information on that account. 

Click on Manage Account and the sub-menu will be found sub-menu as follows.

Account Transactions

Click on the Account Transactions from the dropdown menu under Manage Account.  The screen will appear as show all about accounting transaction is a posted status.

Bank Statements

Click on the Bank Statements from the dropdown menu under Manage Account.

Bank Statement that must be imported via CSV file into the Netforce ERP system in order to reconcile with the accounting entries. If an item has not been reconciled it will be Not Reconcile state and Reconciled state if it has been reconciled.

Spend Money

Click on the Spend Money from the dropdown menu under Manage Account.

Can create a payment for this account by clicking the Spend Money menu. The system will immediately go to the Supplier Payments page and choose the Account automatically.

Receive Money

Click on the Receive Money from the dropdown menu under Manage Account.

As well receiving money, can create a receipt for this account by clicking the Receive Money menu.        The system will immediately go to the Customer Payments page and choose the Account automatically.

Transfer Money

Click on the Transfer Money from the dropdown menu under Manage Account.

To transfer funds from this account to another internal company account. Can make the transaction by clicking on Transfer Money directly, then the system will immediately go to the Bank Transfers menu and choose to automatically transfer from account. More information can be seen here.

Reconcile Account

Click on the Reconciled Account from the dropdown menu under Manage Account.

Once the bank statement has been imported, you need to reconcile the bank by clicking on the Bank Reconcile menu at that bank account. Then the Bank Statement list will be displayed on the right and left as journal entries status is posted in the ERP system.

The system will check the balance of both sides and match the items automatically. Press the OK button to reconcile if information is correct.

Once reconciled, you can check the Bank Reconcile from the Bank Statement menu. Select the account you reconcile.

Items that you have reconciled will change from Not Reconcile to Reconciled.

Import a Statement

Click on the Import a Statement from the dropdown menu under Manage Account.

Before reconciling, the Bank Statement data must be imported into the ERP system. This can be done through a CSV file. After clicking on the Import a Statement menu, the screen will appear. The system will automatically select the account as we click from the Bank Account page, specify the date range according to the Statement, then click on the CSV file prepared for import. Can download the Template Bank Statement here.

Once done click the Import button.

Once the import bank statement is successful, the system will automatically show the list of imported Bank Statements in the Bank Statement menu status is not yet Not Reconcile.