Step 7. Set up bank/cash accounts
Set up any company bank accounts.
Click on the Bank
menu and select the Create New Bank
option OR click on the Bank button on the Explorer Bar and then click on the
New button on the
toolbar.
Complete the following fields as appropriate on the
General Information tab:
- Name - Enter the name of the bank (maximum 35
characters).
- Contact - Enter the main company contact (e.g.
Personal Account Manager).
- Tel - Type the bank telephone number. The
maximum number of digits is 25 alphanumeric characters. For
example, 01234567890 extension 123.
- Fax - Type the bank fax number. The maximum
number of digits is 25.
- E-mail - Type the bank email address. The
maximum number of characters is 55.
- Website - Type the bank's full website address
- for example http://www.bankname.com.
- Address Details.- You can use this area to
enter a single bank address or more than one address (e.g. if the
bank has more than one premises). If more than one address has been
created, you can select an address from the
Description drop-down menu.
- To add a new address - click on the New button
- this will display the New Address
window.
- To edit an existing address - select an address from the
Description drop-down menu and click on the
Edit button - this will display the Edit
Address window.
- To delete an address - select an address from the
Description drop-down menu and click on the
Delete button - Note you cannot delete the first
address as this is the address used on the customer invoice.
Complete the following fields as appropriate on the
Bank Accounts tab:
- Account Number -
Enter the eight digit bank account number. This field accepts 8
digits, the standard size of a bank account number.
Non-standard account numbers – such as building society
account numbers can be entered in the Roll Number field.
- Sort Code - Enter
the six digit bank sort-code number of the bank. You must enter
hyphens between pairs of digits (e.g. 12-34-56).
- Roll Number - Enter
the roll number for this account, if appropriate. This allows a
maximum of 20 characters. A roll number is used by some building
societies to uniquely identify an account.
- Nominal Code - Use
the drop-down menu to select the nominal account that you would
like this bank account associated to. Note: If you wish to set up a
new nominal account for this bank, you have the option to set one
up here. Type the code that you would like to use for the bank
account and click on the Tab key on your keyboard - the
nominal accounts window will be automatically displayed allowing
you to enter the nominal detail for the bank. Once details are
entered and saved you will return directly to the Bank Details - Bank Account
window.
- Nominal Code
Description - Displays the full description of the
nominal account.
- Type of Account -
Use the drop-down list to select the account type (i.e. Current,
Savings or Deposit).
- Current Balance -
Enter the current balance of the account. You can use this field to
enter an opening bank balance when you first start using IRIS
Bookkeeping.
- Reconciled Balance -
Enter the reconciled bank balance. When you are entering an opening
balance, this figure would normally be the same as the current
balance.
- Use the New button to add an additional account (e.g. if you
have more than one account with this bank).
- Use the Previous and
Next browse buttons to
flip through the any additional bank accounts.
Notes and
Tips
- When setting up a new bank account, you have the option to
enter the current account balance. You can do this now or when
entering opening balances, it is entirely up to you. See the
Enter Opening Balances
section of the help within IRIS Bookkeeping for more details.
- You cannot enter a
bank account balance against accounts that have already had
transactions posted against them - it is therefore very important
to enter opening bank account balances BEFORE any postings are made to the
bank.
- You should ensure that the Run Date is set to the opening
balance date.
