BNK Operations Programs

The Bank Operations Programs allow you to display detailed information about each bank transaction in your system and they also allow you to perform other tasks. These tasks include.

• Clearing local or house currency check, wire transfer, charge, and deposit transactions. “Clearing” is the process of identifying the bank transactions that have been cleared or recognized by your bank on your bank statement. Local currency bank transactions are cleared by adding a cleared date to the bank records that have been processed by the bank. This cleared date is normally set to the date on which the transaction was processed by the bank. The Bank Management program allows you to clear multiple local currency transactions at the same time.

• Clearing Foreign Currency check, wire transfer and deposit transactions. When foreign currency bank transactions are cleared in the Bank Management program, the system allows you to specify both the date on which the transaction cleared the bank, and the local currency amount at which the transaction cleared the bank. This option allows you to recognize any difference between the local currency value of the transaction in the system and the local currency amount that was actually recorded by your bank (this difference is normally caused by the bank clearing the transaction with a different exchange rate than that used in the system f

• If the amount of the bank record (in local currency) does not match the amount cleared by the bank, the system makes an entry to a foreign currency gain or loss account for the amount of the difference.

• Inserting Miscellaneous Charge Transactions. The Bank Management by Account Program

Bank Management