Small Business Manager Banking Most small business owners want to

Small Business Manager Banking Most small business owners want to maintain tight control in the important area of banking, while effectively monitoring their cash inflows and outflows. Microsoft® Great Plains Small Business Manager Banking features provide a straightforward, consistent approach to managing your bank transactions. The Banking tasks are the intersection for all bankrelated activity throughout Small Business Manager. They seamlessly integrate all cash, check, and credit card transactions, track bank account balances, and automate the monthly process of reconciling these accounts. Easily enter bank transaction information with this transaction entry window. Banking Tasks At the heart of banking tasks for any small business are deposits and receipts, and reconciling these transactions with your bank statement. All bank-related information automatically flows into Banking tasks from other Small Business Manager tasks, so you only have to enter information once. Deposits and receipts. Payments received from customers are recorded in Sales tasks, where they are applied to a customer’s invoice or balance. These receipts automatically flow to Bank Reconciliation, where you combine them on a deposit for the bank. Returns from Purchasing tasks also flow to Bank Reconciliation. Miscellaneous receipts, checks, withdrawals, and adjustments that are not related to a purchase or sale, can also be entered directly in Banking tasks. Use Banking tasks to transfer funds from one checkbook to another in a single transaction, without the need to record the transaction in each. You can create, edit or void deposits. You can record single-sum deposits easily and quickly. You can select receipts for deposits by receipt type or by range of dates. Check payments. Check payments to employees are recorded in Payroll. Check disbursements to vendors are recorded in Purchasing. There may also be times when miscellaneous payment transactions occur in other areas. All of these payments and miscellaneous cash paid-out transactions flow to Bank Reconciliation, where they are available for reconciling. Transaction review. When you need to extract specific information about your transactions, you want easy access to everything from individual checkbook balances— including reconciled and un-reconciled transactions—to detailed transaction information, such as the deposit number, date, and status. Small Business Manager gives you the ability to drill down to underlying detail from Bank Reconciliation’s views for all the details you need. And, you can easily print the contents once you’ve found the information you need. Bank Reconciliation If your business reconciles bank accounts on a regular basis—handling various bank accounts with multiple bank transaction sources and destinations—the banking reconciliation tools will give you a great return on invest ment. Before you begin the reconciliation process, simply enter the bank statement ending balance, ending date, and transaction cutoff date for the checkbook you want to reconcile. Then, all you have to do is indicate which transactions have cleared the bank. You can void printed checks, and record voided manual checks by entering zero-amount checks. For those occasions when you are reconciling multiple checkbooks on the same day, Small Business Manager Banking gives you the ability to record multiple reconciliations without forcing you to complete each one before beginning the next. Transaction management. Maybe you wish you could see your transactions as the bank does, in the same layout and sorted the same way. With the Small Business Manager Banking features, you can do just that: choose to sort transactions either by transaction type or by date, to match your bank statement layout for quicker reconciling. Reconciliation. Small Business Manager stores all kinds of detailed information about your reconciliations. You can use inquiries and reports to view and analyze information about reconciled and un-reconciled transactions that have been posted for a checkbook. Enter other adjustments, such as interest income and service charges, during reconciliation. Adjustments automatically post to Small Business Manager General Ledger accounts during reconciliation. Exception handling. Sometimes, your bank statement differs from your records and you find that you need to make an adjustment to your records. Small Business Manager lets you handle cleared amount differences quickly and easily. You can easily make the change during reconciliation, without needing to enter a separate transaction. Banking Reports Small Business Manager stores detailed information about your cash-related transactions. You can use inquiries and reports to view and analyze information about a specific transaction, or to obtain general information about a group of transactions. Transaction details. In Banking, you can choose to view only un-reconciled transactions, only reconciled transactions, or all transactions in your reconcile range. You can get more information about a deposit, check, or other bank transaction without interrupting the reconcile process. Small Business Manager’s drill-down functionality gives you the power to display the originating transaction, regardless of the task of origin, for complete audit control. During reconciliation, important information is always on-screen, giving you immediate process feedback. Information includes adjusted bank balance, adjusted book balance, difference between bank and book balances, number of cleared payments, cleared payments total, number of cleared deposits, and cleared deposits total. Banking history. Your company may want to maintain historical records for audit purposes. You can keep records of transaction and reconciliation history for an unlimited number of years. Once you determine historical information is no longer necessary, or when you need to make hard disk space available, you can remove the history. Bank reconciliation history contains records of transactions that have been entered, posted, and reconciled. You can access Banking history through reports such as the Checkbook Register. Business Benefits Business need I need fast, efficient bank reconciliation. Small Business Manager solution Small Business Manager automates bank reconciliation processes. All you have to do is set the range, and then mark the transactions that have cleared the bank. All bank-related information automatically flows into Banking tasks from other Small Business Manager tasks, so you only have to enter information once. Flexible Banking report options allow strong cash flow monitoring. I want to closely monitor cash inflows and outflows. Feature List • • • • • • • • • • • Unlimited number of bank accounts Bank account maintenance Record deposits and withdrawals Record transfer of funds Transaction entry Transaction review Bank to book transactions Void transactions and checks Bank reconciliation Adjustments Integration from other tasks