Adding a New Bank Account

Adding a New Bank Account

If  your new bank account has a zero balance at the beginning of the current month, it is possible to add it in Stockyard in a few short steps.  For bank accounts that already have a balance for the current month, please contact Outcross Systems for assistance in adding this account correctly.

Add the new ledger account:
i.  Right-click on the Banks classification and select New GL Account.

ii.  Complete the bank details for the account:

  1. Description <E.g. ANZ Business Account> (This shows up internally when selecting where to make payments from)

  2. Bank Account Name (Dep Slip) e.g. Working Account / Outcross Systems

  3. Bank Account Number

  4. SBN - the initials of the bank e.g. NAB, CAB, ANZ

  5. BSB

  6. Next cheque number, if unknown set to 1

  7.  APCA Number: this allows you to upload aba files to your internet banking - ask your bank for these details 

  8. APCA Name - usually the account name but verify with you bank

  9. ABA Bank File Format - select balanced 


It is possible to reorder the bank accounts so that the most frequently used will be the first one in the list by changing the numbering in the Code of the bank.

Enter the first Bank Statement
This process will only work if there was a zero balance at the start of your current month.
Remember that your bank ledger should reflect the point of the view of the bank i.e. if the bank statement shows a Credit, the bank owes you money - the ledger will reflect it in Debit. This allows for the reconciliation of your bank statement to the transactions in Stockyard.

Idea
It is worth entering the first few transactions for the bank statement using the safety of the Test System to ensure you are entering the transactions correctly.

1.  Copy your bank statement exactly as you see it using the relevant accounts.  Once the closing balance is reached, you will be able to save the page. 

2.  Go to the Bank Reconciliation window and print the Bank Reconciliation.  Ensure it is successful and matches what your statement says.
 

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