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taken from the Accounting Made Easy e-book








ONLINE BANKING
INTRODUCTION TO ONLINE BANKING
  
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This feature will be used to download and manage bank statement transaction files on your system. These bank statement files contains the same information as that in the printed bank statement received from the bank. This Online Banking feature, is available on the Tools - Plug-ins - Bank Online menu option, provided that you have installed the Plug-ins from the TurboCASH Plug-ins CD.

The basic procedures for Online Banking to download and manage bank statements in an electronic format, is as follows:
  1. Download a bank statement from your bank, provided that your system is configured and setup for the Internet and you are registered for online banking at your bank or financial institution. It is important to select the correct dates to include transactions (the dates must correspond with those dates for which you need to do the bank reconciliation) when you save the bank statement transactions as a file.

  2. You need to import a bank statement from a valid existing file format on your system in the Set of Books for the Bank Account transactions (payments and receipt batches) you need to reconcile.

  3. You may then use this bank statement file to reconcile the bank statement transactions in the Input - Reconcile Bank menu option with the transactions in the payments journal or batch and receipts journal or batch for a specific bank account.
To Access the Online Banking Utility:
Click on the Tools - Plug-ins - Bank Online menu option or press the and and and keys on your keyboard. The Online Banking screen will be displayed:

Minimise button - click to minimise this screen. Close button - Click to close or exit this screen. Title bar - Displays the location and name of the Set of Books. Double-click to display the screen in full size or to return to the normal size. Restore button - click to display this screen to full size and click again to restore it to its original size. Click to Import, Download or Save Bank Statements. Click to Import an existing Bank Statement file. Click to download a Bank Statement from the Bank or Financial Institution. Click to save an Imported Bank Statement to a file. Click to Edit Transactions and to Allocate References. Click to print, save and load Bank Statement Reports. Click to close or exit the Online Banking utility. The date of the Bank Statement transactions. Reference, if allocated. Memo - the descriptions of the transactions as on the Bank Statement. The transaction amounts displayed in a Blue font colour = Deposits and the amounts in a Black font colour = Payments (Withdrawals/Cheques). If not selected, the transactions is not yet reconciled with the cash book. Vertical scroll bar - move up or down to view more transactions. Click on the down-arrow to select a Bank Account number. The closing Bank Statement balance and the available balance The arrow pointer indicates the selected transaction.

If you have not yet downloaded a bank statement or imported a bank statement, no transactions and bank accounts will be displayed on this screen.
The following options are available:

- Click to Import a bank statement file, download a bank statement or save the bank statement transactions to a file.

- Click to Edit the Transactions, Reconciled Transactions or to Allocate References to transactions.

- Click to generate a Transaction Report for the transactions displayed for the bank statement transactions.

- Click on this button to quit or close or exit the Online Banking screen.

Once you have the bank statement file ready, you may proceed to reconcile the bank account in the Input - Reconcile Bank menu option. It is important to select the correct dates to include transactions (the dates must correspond with those sates for which you need to do the bank reconciliation) when you save the bank statement transactions as a file.

Before you may download a bank statement from your bank or financial institution, you need to connect to the Internet.

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