Banking

The Banking Tasks section provides a graphic representation of the flow of banking-related tasks, as well as access to those tasks. It also provides access to windows where you enter/maintain general ledger account information.

Banking—Maintenance Options

At the top of the section are three buttons that take you to maintenance options and to the Write Checks window:

Write Checks: Click this to work with vendor checks:

• New Check: This takes you to the Write Checks window, where you can make a quick and uncomplicated payment to a vendor.
• View List of Checks: This takes you to the Vendor Check List, where you can see a variety of information related to individual vendor checks.
• Print Checks: This takes you to the Select a Report or Form window, where you can print a batch of vendor reports.

• Set Up Check Printing Defaults: This takes you to the Check Printing Defaults window where you can specify options that can help you save your pre-printed check forms, such as being warned before printing a $0.00 check.

• View Check Register Report: This lets you view the Sage 50 Check Register report, which lists all vendor checks for your company.

Account Register: Click this to go to the Sage 50 Account Register.

Budgets: Click this to select from a menu of options related to budgets:

• New Budget: This takes you to the Maintain Budgets window, where you can set up new budgeting information for your company.
• View and Edit Budgets: This takes you to the Budgets List.

Chart of Accounts: Click this to select from a menu of options for entering/maintaining your chart of accounts.

• New Account: Click this to go to the Maintain Chart of Accounts window, where you can enter account information.
• View and Edit Accounts: Click this to see the Account List.
• Set Up Account Defaults: Click this to go to the General Ledger Defaults window, where you can set up account rounding and account segments (Sage 50 Premium Accounting and higher).

Banking—Task Flow

The task flow takes you from receiving cash from a customer through general journal entry. Click the appropriate button; a pop-up menu appears. For example, if you click the Pay Bills button, a menu with the following options appears:

• Pay Bills
• Write Checks
• Pay Multiple Bills
• View and Edit Paid Bills
• Memorize Payments

The Bills to Pay section lists all outstanding vendor bills for the company. There are five columns of information for each vendor:

• Vendor ID
• Vendor Name
• Amount (of invoice)
• Invoice #
• Due Date

You can sort the information in any of the columns.

View Detailed List: Click this button (at the top of the section) to see the Purchase List, which includes detailed information for all outstanding purchases from vendors.

Right-click menu: Right-click the Bills to Pay section to see a pop-up menu with the following options:

• Enter a Bill: Click to go to Purchases/Receive Inventory window, where you can enter vendor invoice information.
• View Bill Detail: Click to go to the Purchase List.

The Account Balances section lists the balances for all your company's general ledger accounts. There are three columns of information for each account:

• Account ID
• Account Description
• Balance

You can sort the information in any of the columns.

There are three links at the bottom of the grid:

• View Account List: Click to see the Account List, which lists a variety of information related to your GL accounts.
• View Balance Sheet: Click to view the Balance Sheet (financial statement) for your company.
• Reconcile Accounts and Import Bank Statements: Click to go to the Sage 50 Account Reconciliation window.

The Recently Used Banking Reports section lists the five most recently opened reports relating to your company's banking. If this is a new company and you are accessing the Banking Navigation Center before opening any banking-related reports, the following default reports will be listed:

• Account Reconciliation
• Account Register
• Bank Deposit Report
• Deposits in Transit
• Outstanding Checks

To see a report on the computer screen, click the View link opposite that report. To print the report, click the Print link opposite the report.

At the bottom of the section, there is View All Banking Reports link; click this to go to the Sage 50 Select a Report or Form window with the list of Account Reconciliation reports preselected.

If your company is set up for Online Banking, you can select a bank account from which to import an electronic statement.

1. In the Select an Account field, enter or select an account to import from.
2. Select the Import Bank Statement button.

Sage 50 opens the Account Reconciliation window with the chosen account preselected. Then it opens the Import Statement - Welcome window.

• To import the statement, follow the directions under Import a Bank Statement into Sage 50; skip to step 4 in this topic.

Links in this section provide information about value-added services such as the Credit Card Service and Online Banking.