Banks: Profile tab
Use the Profile tab to enter identifying information for the bank account.
You need to enter:
- The number of the next deposit batch for this account.
- The maximum error amount that the bank accepts without investigating the cause of the error.
- General ledger accounts for the bank and for clearing errors posted during bank reconciliation. If you do not use Sage 300 ERP General Ledger, you can enter the account number from another system.
You can optionally enter the bank's transit number and the bank account number. (You find these numbers encoded on the bottom of your cheques; sometimes referred to as MICR #s, or Magnetic Ink Character Recognition numbers.)
If the bank can accept deposits and issue checks in currencies other than your company's functional currency, you also need to:
- Select the Multicurrency option.
- Enter the statement currency.
If you enter a functional currency, you have a multicurrency bank. You need to specify allowable source currencies on the Currency tab.
If you do not enter a functional currency, you have a foreign-currency bank. The program uses the Company Profile default rate type for checks and deposits.
After adding a bank record, you can change any information except the Multicurrency option and statement currency.
If you are using a Sage 300 ERP product that does not support multicurrency and you use multicurrency databases, you must install the Sage 300 ERP Multicurrency product.
To add a bank
To see information about another tab on the Banks form, click one of these links: