Select Bank Account.
The Bank Account Manager program can support up to 99 separate checking and savings accounts; however, you can process transactions in only one bank account at a time. Therefore, each time you open the program, you will be prompted to select the bank account in which you wish to process transactions.
This window titled Select Bank Account displays all of the bank accounts currently set up in your Bank Account Manager program. Use your mouse (move mouse cursor to desired bank account and left-click mouse once) or the up/down arrows (,¯) on your keyboard to highlight the desired bank account. Then press the [Select] button to select the highlighted bank account. The name and number of the selected bank account will be displayed in the active window so the user will always be aware of the bank account in which he/she is processing transactions.
Bank Number: This is a locator field to help you quickly access a specific bank account. With your cursor located in the list box, type the number of the bank account you wish to use and that bank account (or the closest match to the number you typed) will be highlighted in this window. If your cursor is located in this Bank Number locator box, however, then you must press the Tab key after you type the bank number for the bank account (or the closest match to the number you typed) to be highlighted in this window. Also, you may use the backspace key [¬] to clear characters from this locator box if you need to search for another bank account.
[ Select ] Press this button to select the highlighted bank account.
[ Close ] Press this button to close this window. NOTE: When opening the Bank Account Manager program initially, this [Close] button will both close this window and exit the Bank Account Manager program. If you accessed this window using the Change Current Bank Account option on the File Pull-Down Menu, however, then this [Close] button will only close this window---it will not also exit the Bank Account Manager program.
[ Help ] Press this button (if available) or the F1 key to view the Help text for this window.
TRANSFER OF FUNDS BETWEEN BANKS
Since the Bank Account Manager program can process transactions in only one bank account at a time, this means that transfers of funds between banks must be done as separate transactions in each bank account affected. To accomplish such a transfer, you must first set up a general ledger transfer/clearing account which will be used in each of the transfer transactions. This general ledger must be set up as ACTIVE but NOT Restricted and it may be named "Funds Transfer Account".
After you have set up this general ledger "Funds Transfer Account", do the following steps to move funds from one bank account to another bank account.
1. To remove funds from the first bank account, you must process a manual check* in that bank account. *NOTE: If this was an electronic funds transfer, then you must process a bank adjustment instead of a manual check. The general ledger number you will use for this transaction will be the newly created "Funds Transfer Account". This transaction will debit the "Funds Transfer Account" and credit the general ledger cash control account for this bank account.
2. Now use the Change Current Bank Account option on the File Pull-Down Menu in Bank Account Manager to Select the bank account into which these funds should be transferred. Once the second bank account has been selected, you must process a deposit in this bank account. Again, the general ledger number you will use for this transaction will be the newly created "Funds Transfer Account". This transaction will credit the "Funds Transfer Account" and debit the general ledger cash control account for this bank account. NOTE: Since the "Funds Transfer Account" is a "clearing account", the balance in this account should be -0- after both these transactions have been posted to the general ledger.
