The Bank

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					    5                 The Bank

                                 58   The Bank Toolbar
     This chapter shows you
                                 59   Bank Accounts
     how to maintain your
                                 60   Bank, Cash & Credit Accounts
  bank account records and
                                 61   Recording Bank Payments
 transactions. This includes
                                 62   Supplier Invoice Payments
deposits, payments, transfer
                                 63   Batch Purchase Payments
    of money between bank
                                 64   Bank Receipts
  accounts and adjustments
                                 65   Recording Customer Receipts
  to show bank charges and
                                 66   Bank Transfers
    interest received. It also
                                 67   Recurring Entries
     covers reconciling your
                                 68   Generating Cheques
     statements, processing
                                 69   The Bank Statement
  recurring entries and the
                                 70   Bank Account Reconciliation
     production of cheques.
                                 72   Bank Reports
The Bank

                                     The Bank Toolbar
                                     This toolbar provides features for the recording and maintenance
                                     of bank transactions and records. You can perform adjustments,
                                     record the transfer of monies, enter receipts, produce statements
                                     and reports and even print cheques.

                                                Opens a Bank Record

                                                Opens Bank Account Reconciliation

           To quickly create a new              Record Bank Payments
           Bank account, use the
           New Wizard from the
           Bank Toolbar and work                Record Supplier Payments
           through the simple step
           by step screens.
                                                To Print Bank Remittances

                                                To Record a Batch Purchase Payment

                                                Record Money Received

                                                Record Customer Receipts

                                                Make Bank Transfers

                                                Opens Recurring Entries Window

                                                Opens the Cash Flow Window

                                                To Print Bank Statements

                                                To Print Cheques

                                                To Run Bank Account Reports
Bank Accounts
There are three types of Bank accounts used in Sage Line 50: the
Bank Account, Cash Account and Credit Card Account.
The Bank account option treats both Bank and Building Societies
as bank accounts. Three bank accounts have been automatically set
up to include a bank current account, a bank deposit account and
a building society account.
                                                                        The arrows on the
A single Cash Account called Petty Cash has been set up, but            Customers toolbar let
other cash accounts can be added, for example, Emergency Cash           you scroll across all
or Additional Travel Expenses etc.                                      available buttons.

The facility to record your credit card bank details is available and
allows you to monitor any credit card transactions you have made
and keep track of your money. Two credit card accounts have
already been set up for use.
To view the Bank account window:

 1     Select Bank from the
        Line 50 2007 navigation bar

 2     Click on the bank account required, then click on the
        appropriate icon for the function you wish to carry out

                                                                        Remember to have your
                                                                        current bank balance to
                                                                        hand when creating new
                                                                        Bank records.

 3     When finished, click Close
The Bank

                                       Bank, Cash & Credit Accounts
                                       Sage Line 50 provides three types of bank accounts:

                                       • Bank Account (includesbuilding society account).
                                         current account, plus a
                                                                   both bank deposit and

                                       • Cash Account (named Petty Cash).
           Your bank accounts and
           financial reports use        • credit card receipts). (company credit card and
                                         Credit Card Account
           nominal codes 1200
           to 1299.                    These accounts can be edited to match your own details. Accounts
                                       can also be added or deleted. To set up your Bank account details:

                                        1     From the Bank Accounts window, select account type
                                               required and click on the Record icon

                                        2     Check details and make changes if necessary

                                        3     Click here to enter Current Balance

           Should the minimum
           balance fall below the        4     Enter Opening Balance and other details then click Save
           figure entered, it will be

           displayed in red in the
           Bank Accounts window.         5     Click Bank Details tab
                                               and enter any further
                                               relevant details

                                        6     Click Save to store
                                               details, then Close
Recording Bank Payments
For recording any non-invoiced or one-off payments use the
Payment option from the Bank Accounts window. Sage Line
50 then makes it very easy for you to keep track of where your
money goes – simply select the appropriate account, enter the
payment and post it.                                                Payments to your
                                                                    suppliers should be
To record Bank payments:                                            entered using the

                                                                    Supplier option as
  1     Click Payment from the Bank Accounts window                 this brings up any
                                                                    outstanding invoices

 2     Use Finder button to enter Bank account code
                                                                    when the supplier
                                                                    account is entered.

 3     Enter Date (and transaction Reference if required)

                                                                    If you only know the
                                                                    Gross value of the

                                                                    payment, simply enter it
                                                                    in the Net box and click
                                                                    on the Calc. Net button.

 4     Enter a Nominal Code for the payment to be posted to,
        or use the Finder button

 5     Enter Details describing the payment

 6     Enter amount (change Tax Code from default of T1 if
                                                                    Use the Discard button
                                                                    if you want to clear any
                                                                    data already entered and

 7     Click Save to post details (update the nominal ledger and
        the Bank account)
                                                                    start again. Any entries
                                                                    you have already saved
                                                                    will not be cancelled.

 8     Click Close to return to the Bank Accounts window