Setting up the bank accounts of your company is an important prerequisite to setting up Compeat's accounting features. All bank accounts are entity-specific, though they can be created from any entity in the system.
This section contains the following topics:
Bank Accounts The Bank Accounts screen is where you define each bank account in your system; you can define as many bank accounts as needed. A unique GL account and entity number combination is associated with each bank account code you define. You will need to have bank accounts defined in order to print computer checks or record manual checks.
Bank Adjustments When reconciling a bank account, it is sometimes necessary to adjust the cash balance in the GL due to adjustments provided by the bank. The Bank Adjustments screen is where you define bank adjustment categories and associate them with general ledger accounts used by your company.
Positive Pay The Positive Pay screen lets you define the layout of an export file that you can send to your bank to ensure only authorized checks are cleared on your account. Banks typically specify the layout they need for a Positive Pay export file. This screen lets you match their specifications.
Bank Import The Bank Import screen allows you to configure the system to import a bank statement from your bank. Your bank should provide you with specifications on configuration. This screen lets you match their specifications.
Load Open Items The Load Open Items screen allows you to import open items data into Compeat from a spreadsheet.