Page 20 - Administering the System Participant Guide (SDL)

Creating Bank Accounts
When configuring Bank Accounts, select an Account and an Organization to specify
where transactions posted to the Bank Account will be charged in the General Ledger.
The Account and Organization selected for a Bank Account must match exactly when
entering transactions to ensure accurate bank reconciliation; any Organization other
than the one selected will not appear on the reconciliation.

Unanet recommends establishing a 1:1 relationship between real-world bank
accounts and General Ledger Accounts in Unanet.

Processing ACH Transactions
For each real-world checking account used by your company, a corresponding Bank
Account should be configured in Unanet. When using Automated Clearing House
(ACH), a separate Bank Account and Payment Method needs to be created with the
same account number as the Bank Account for system checks. This enables the check
and ACH transactions to be reconciled to the same checking account when performing
the bank reconciliation.

Demo 2.1 – Configure Bank Accounts for ACH Transactions
To enable the use of Automated Clearing House (ACH) transactions, a new
Bank Account with an associated General Ledger Account must be configured
as a modified duplicate of the existing Operating Account. Log in as the Administrator,
Ralph Durbin (rdurbin/welcome).

Demo Steps

1. Create a new Bank Account to match the existing Operating Account, but with a
modified Name and Last Check # Used to specifically identify it for use with ACH
transactions.
2. Confirm that there is Payment Methods configured to manage ACH transactions
for both receipt of customer payments and issuance of vendor payments.
3. Modify Vendor Organization names to denote which will be paid via ACH by
adding “(ACH)” to the name.
4. In Admin > Setup > User-Defined Fields > Vendor Profile, edit the last two
UDF fields to capture the Bank Routing number and Bank Account.
5. In the Vendor Profile of a Vendor Organization, enter the Bank Account and Bank
Routing numbers in the Vendor User-Defined Fields and confirm that the Vendor
Name appears in the Payee Name(s) field.

Lesson 2: Managing Bank Accounts ©2021 Unanet. All rights reserved.
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