This option is used whenever you wish to create a new Bank Account, change the descriptions of an existing Bank Account, or to delete an existing Bank account. If you have converted a Set of Books from a previous version of TurboCASH or Pastel version 5.2, your Bank accounts will be automatically included in the Chart of Accounts. TurboCASH allows for up to 10 different bank accounts.

If you have selected a Set of Books (template) when you have created your own Set of Books, one Bank Account (Account number 810 - Current Bank Account) will already be available for you to use. You only need to select this Bank Account and change the Description Name of the Current Bank Account to your own name of your trading Bank Account.

If you have more than 1 bank account, or if you open another Bank Account at a Bank or Financial Institution, you will need to add or create each of your other Bank Accounts. It is a good idea to create your Bank Accounts in the same Account number ranges as the Current Assets where the First Bank Account is created (e.g. 815, 820, etc.).

 

A Bank Account must be linked to its own unique Payments and Receipts Batch Type. It is very important when setting up your Bank Account that you link each Bank Account to its own unique payments and receipts journal. If it is not linked to these journals, you will not be able to do the bank reconciliation. Before you can create a new Bank Account you first need to create a new Payments and Receipts Batch. It is a good idea to edit or rename the payments and receipts batches. This will enable you to identify the payments and receipts batches for the bank accounts when you need to process payments and receipts or to do the bank reconciliation.

To Create a New Bank Account:
Select the Edit - Accounts - Bank Account menu option or press the and and and keys on your keyboard. The Bank Accounts search facility screen as well as the Bank Accounts screen, will be displayed.


Press the button or click on the Close button to close or exit the Bank Accounts search facility.
Enter the Account Number for the Bank Account. The Bank Account number should preferably be in the Current Assets Account number range, where your other Bank Accounts are created. If it is an overdrawn Bank Account for which you may on the long run, be overdrawn, you may create the Account in the Current Liabilities Account number range. The following Confirmation screen will be displayed:


Click on the button to create the Account.
Enter the name of your Bank Account in the Description field. This is important, if you have more than 1 bank account, to identify the one Bank Account from the other Bank Account. If your bank accounts are held at different banks, you may enter the Bank Account number or Type of Account or the name of the Bank or Financial Institution where the Bank Account is held.
Select the Account reporting Group 1 or 2. Account Group 1 and 2 or any other name or description you have entered on the Reporting Group Name field on the Account Groups tab of the Setup - System Parameters - Groups menu option. You may select any available reporting group from the drop down list.
Select the Payments Batch for the specific Bank Account.
Select the Receipts Batch Type for the specific Bank Account.
Click on the button to save your changes. The Bank Accounts search facility screen will be displayed. Press the button on your keyboard or click on the Close button to close or exit the Bank Accounts search facility screen. You may enter another Bank Account number to create a new Bank Account or you may press the button again to exit or close the Bank Accounts screen.

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Note that you cannot create any Sub-accounts for Bank Accounts.