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The Bank Account screen is used to set up the "bank accounts" in Unanet, which are not necessarily all traditional bank accounts, but rather, they represent an account into which users can make deposits, from which they can make payments, and do bank account reconciliations.
The types of bank accounts that may be created include:Bank Account – this is a real bank account. The user can specify the Bank with which they have the account and the Account and Routing numbers of the account. This information is for informational purposes only.
Undeposited Funds – this is a holding account into which the users can record payments received prior to depositing them into the bank. This type of account is also necessary if the user must accumulate multiple checks in the same deposit in order to match the deposit amounts that show up on the bank statement (e.g., two checks for $100 and $150 respectively are deposited into the bank in a deposit for $250).
Other – can be used to reconcile non-cash accounts to external statements. Examples include things like payroll clearing, PayPal, credit card statements, subcontractor bills, etc.
The account and organization specified for the bank account is used when posting any transactions made to the bank account in the general ledger. Any transaction from any source posted to the account/organization combination will be treated as a bank account transaction in the Bank Account reconciliation process.
If you are using Unanet Pay to receive electronic payments, then you must set up an "Undeposited Funds" type bank account with the same information as the bank account set up in Stripe. Unanet looks for a matching bank account and routing number when the payout from Stripe is received and the Deposit document is created.
This screen is available to users having the Administrator, AP Admin or AR Admin role.
This screen is available with the Project Financials family of Unanet licenses.
Topics covered on this help page include:
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