1. Under "System Setup" go to "Bank Deposit Setup." Please refer to picture below:
2. Once you click "Bank Deposit Setup" a browse window will appear labeled "Bank Table" that looks like this:
Each day you are taking many payments that need to be deposited to your bank. You may have multiple funds such as the 2 most common: general fund, and enterprise fund which would be something like utilities. Each of your payments can be made in different ways such as cash, check or credit card. GovCollect sets up all of these accounts for you, you just have to select which ones your city uses. For example: Property Tax, you could have a payment source of Cash, Check, or Credit Card. Say your General Funds are deposited into "Bank 1" and Enterprise Funds are deposited into "Bank 2." Bank Deposit Setups allows GovCollect to separate these funds and also allows you to separate payments. You could have multiple banks where your funds are held.
You have a payment of $100,
GovCollect will tell you $20 may go to utilities and the other $80 to another account.
A. "Cash G/L Account Number From Tranctl" field - Replace this field with your GL CASH account number that you entered into the PAYMENT DEBIT field on your tran codes. In your demo data the word CASH is used in these fields. For example, if the APPLICATION = Property (property tax), then you would enter your property tax CASH GL Number in this field. If the APPLICATION = License (Busines License type revenue), then you would enter your business license CASH GL Number in this field.
B. "Master Deposit GL Number" - This field is the bank account from your chart of accounts that you are depositing these types of funds into. It is a good idea to make it the same as the "cash g/l from tranctl" as long as you are not using the bank table to link to your accounting software. Remember, it is NOT required to set up the bank table to link with your accounting software but may be useful for you moving forward.
C. Bank Account Fields - These are descriptive and not required but helpful.
D. "Produce Root Bank Entries" - To make it easier on you, pushing this button will create bank table entries based upon the APPLICATION for every CASH account you have setup in your tran codes.
In order to change Due To/Due From please consult your accountant.