Entering Bank Accounts
Entering Bank Accounts
To enter bank accounts:
Select Banking > Bank Accounts. If you are using universal navigation, click Accounting > Settings > Bank Accounts.
Search for and select the applicable association.
Click New.
On the Bank Account Information screen, enter the following information:
Description: Enter a description/title to easily identify the account.
Active
Cash Account: Select the cash account/bank account GL chart number.
Interest Account: Select the interest account GL chart number if the account is interest-bearing.
Bank: Select the bank name from the dropdown. If the bank name does not exist in CINC Accounting, it may be added by selecting Setup > Banks and clicking New. If you are using universal navigation, click Accounting > Setup > Set Up A New Bank.
Interest Rate
Type: Select Checking, Money Market, or Savings from the dropdown.
Account #: Enter the bank account number. The account number must be valid per the bank and cannot be entered as a zero (0).
Beginning Balance/Balance Date: Enter the beginning balance and the date of the balance.
Depository: Toggle on if the account is the operating account for the association.
Reserve: Toggle on if the account is a reserve account.
Allow Vendor Pay
Next Check #: Enter a preferred next check number.
Next Deposit #: Enter a preferred next deposit number.
Alert Min. Balance: Enter a minimum dollar amount to cause the system to issue an alert that the bank balance has reached a specific amount. The alert must be enabled under File > Alerts /Reminders. If you are using universal navigation, click Notifications > Alerts Setup.
Max Signature Amount
User Defined Information: (Optional) Can be defined under System > User Defined Fields: Banks. If you are using universal navigation, click Settings > General > User Defined Fields.
Repeat these steps until all bank accounts have been entered for the association. To enable an additional bank interface, log a case with customer support.
Click Save.