Processing

Use the Bank Account form to create and maintain bank and petty cash account records. For information about Cashbook transactions, refer to the section Cashbook Postings.

You can maintain bank accounts in different currencies to allow for multi-currency transactions. In addition to details that identify the bank account, you use the Controls command on the Action menu to define various settings and controls that affect the processing associated with the account. These include:

Setting an overdraft limit

Defining the next reconciliation, statement, paying in slip and cheque numbers

Registering the date of the last statement received

Identifying the cheque design to be used for cheque printing

Defining the operating currency for the account.

Once you have created the bank and cash accounts you need, transactions posted for the accounts result in balances being maintained automatically and displayed on the Bank Account form. These include:

The reconciled bank balance

The unreconciled bank balance

The current bank balance.

For foreign currency bank accounts these balances are maintained in the foreign currency. The home currency values are calculated and displayed 'on the fly' using the latest exchange rate for the foreign currency. The latest rate is maintained in the Exchange Rates command in the System module.

Box	Prerequisite
Bank Account	Bank and petty cash accounts are based on existing nominal accounts which must have been created first using the Nominal Ledger - Maintenance - Accounts form.

Box

Prerequisite

Bank Account

Bank and petty cash accounts are based on existing nominal accounts which must have been created first using the Nominal Ledger - Maintenance - Accounts form.

Bank Account Entries

General

Box	Description
Description	The account description. This defaults to the name of the nominal account.
Petty Cash	Determines that the account is a petty cash account. These accounts can be saved without sort codes and account numbers. These accounts are ignored in the Reconcile command.
Sort Code	The bank sort code. These codes should be 6 digits long.
Account No.	The bank account number.
Use for SEPA Payments	This is enabled if: your licence includes the SEPA feature, the bank account is a Euro account and the bank account is not a petty cash account. Select if the bank account will be used for SEPA payments using the 'SEPA CT' banking file format. An IBAN and BIC code must be entered for these accounts - which are mandatory codes for the banking payments file. Sort code and bank account numbers are not used in 'SEPA CT' banking files but you can still record the codes if required. Important: Do not select this option if you use the 'SEPA BOI' banking file format. IBAN and BIC codes are not yet used in this format - sort code and bank account numbers are still used. What's SEPA? The Single Euro Payments Area (SEPA) is an initiative in the European Union to improve cross-border Euro payments between EU countries (Eurozone and non-Eurozone countries) plus Iceland, Liechtenstein, Norway, Switzerland and Monaco. For steps to set up Opera for SEPA please follow the 'Setting Up Opera for SEPA' Help topic in the 'How to' section of the Purchase Ledger Help. This topic also includes steps to set up the Cashbook and other applications.
IBAN	The International Bank Account Number. If you enter one you must also enter the BIC code. Both codes will be checked by Opera when you save your changes to ensure that they are entered in a valid format. BIC and IBAN codes must be included for Single Euro Payments Area (SEPA) Euro payments.
BIC	The Bank Identifier Code. If you enter one you must also enter the IBAN code. Both codes will be checked by Opera when you save your changes to ensure that they are entered in a valid format. BIC and IBAN codes must be included for Single Euro Payments Area (SEPA) Euro payments. Bank Identifier Codes (BICs) and International Bank Account Numbers (IBANs) are used to identify banks across national borders. The structure and length of the codes are defined by the International Organization for Standardisation (ISO) so must be entered accurately. The length of these codes can vary: - BICs: minimum length 8 characters, maximum length 11 characters - IBANs: minimum length 5 characters, maximum length 34 characters.
Account Name	The name of the bank account as it is known to the bank. This name is required in a SEPA payment file along with the BIC, IBAN and so on. It is important that this name is entered accurately.
Email Address	The e-mail address for the bank. If an e-mail address is entered it is used automatically when you use the email icon on the toolbar to open your email editor.
Web Site	The web address for the bank. If a website address is entered it is used automatically when you use the web icon on the toolbar to open your web browser.
Contact Details	The telephone and facsimile numbers for the bank and the name and title of a contact at the bank. These details are for reference purposes only.

Box

Description

The account description. This defaults to the name of the nominal account.

Petty Cash

Determines that the account is a petty cash account. These accounts can be saved without sort codes and account numbers. These accounts are ignored in the Reconcile command.

Sort Code

The bank sort code. These codes should be 6 digits long.

Account No.

The bank account number.

Use for SEPA Payments

This is enabled if: your licence includes the SEPA feature, the bank account is a Euro account and the bank account is not a petty cash account.

Select if the bank account will be used for SEPA payments using the 'SEPA CT' banking file format. An IBAN and BIC code must be entered for these accounts - which are mandatory codes for the banking payments file. Sort code and bank account numbers are not used in 'SEPA CT' banking files but you can still record the codes if required.

Important: Do not select this option if you use the 'SEPA BOI' banking file format. IBAN and BIC codes are not yet used in this format - sort code and bank account numbers are still used.

What's SEPA?

IBAN

The International Bank Account Number. If you enter one you must also enter the BIC code. Both codes will be checked by Opera when you save your changes to ensure that they are entered in a valid format.

BIC and IBAN codes must be included for Single Euro Payments Area (SEPA) Euro payments.

BIC

The Bank Identifier Code. If you enter one you must also enter the IBAN code. Both codes will be checked by Opera when you save your changes to ensure that they are entered in a valid format.

BIC and IBAN codes must be included for Single Euro Payments Area (SEPA) Euro payments.

Bank Identifier Codes (BICs) and International Bank Account Numbers (IBANs) are used to identify banks across national borders. The structure and length of the codes are defined by the International Organization for Standardisation (ISO) so must be entered accurately. The length of these codes can vary:

- BICs: minimum length 8 characters, maximum length 11 characters
- IBANs: minimum length 5 characters, maximum length 34 characters.

Account Name

The name of the bank account as it is known to the bank. This name is required in a SEPA payment file along with the BIC, IBAN and so on. It is important that this name is entered accurately.

Email Address

The e-mail address for the bank.

If an e-mail address is entered it is used automatically when you use the email icon on the toolbar to open your email editor.

Web Site

The web address for the bank.

If a website address is entered it is used automatically when you use the web icon on the toolbar to open your web browser.

Contact Details

The telephone and facsimile numbers for the bank and the name and title of a contact at the bank. These details are for reference purposes only.

Controls

Box	Description
Overdraft Limit	The overdraft limit for the bank account. When payments are posted for the account, the application checks that the payment value does not cause the overdraft limit to be exceeded and a warning is displayed if this is the case. You can also specify a minimum balance for the bank account by entering a negative value in the box. The application checks that payments drawn against the account do not cause the minimum balance to be exceeded.
Next Reconcile Number	The next reconciliation number to be used. Each bank reconciliation is assigned an internal reference number. This is incremented automatically by the application after you have completed a bank reconciliation.
Next Statement Number	The next statement number. This is the number of the next statement you receive from your bank. It is updated automatically when you process reconciliations for the bank account.
Next Paying in Slip	The paying in slip number. It is incremented automatically by the system each time a new paying in slip is printed.
Next Cheque Number	The cheque number. It is automatically incremented by the system each time a new cheque is raised for the account.
Design	A reference that identifies the design file for the cheque layout. If you leave this box blank, the default layout will be used. If you enter a two-character code here, the cheque design that has these two characters at the end of the layout file name will be the cheque design used instead of the default.
Last Statement Date	The date of the last statement you received from your bank. It is updated automatically when you process bank reconciliations for the account.
Currency	A reference that identifies the currency of the account. The Cashbook module is a multi-currency module and allows you to set up bank and cash accounts in different currencies, provided you are using multi-currency facilities. You cannot amend this once transactions have been posted for the account.

Box

Description

Overdraft Limit

The overdraft limit for the bank account. When payments are posted for the account, the application checks that the payment value does not cause the overdraft limit to be exceeded and a warning is displayed if this is the case. You can also specify a minimum balance for the bank account by entering a negative value in the box. The application checks that payments drawn against the account do not cause the minimum balance to be exceeded.

Next Reconcile Number

The next reconciliation number to be used. Each bank reconciliation is assigned an internal reference number. This is incremented automatically by the application after you have completed a bank reconciliation.

Next Statement Number

The next statement number. This is the number of the next statement you receive from your bank. It is updated automatically when you process reconciliations for the bank account.

Next Paying in Slip

The paying in slip number. It is incremented automatically by the system each time a new paying in slip is printed.

Next Cheque Number

The cheque number. It is automatically incremented by the system each time a new cheque is raised for the account.

Design

A reference that identifies the design file for the cheque layout. If you leave this box blank, the default layout will be used. If you enter a two-character code here, the cheque design that has these two characters at the end of the layout file name will be the cheque design used instead of the default.

Last Statement Date

The date of the last statement you received from your bank. It is updated automatically when you process bank reconciliations for the account.

Currency

A reference that identifies the currency of the account. The Cashbook module is a multi-currency module and allows you to set up bank and cash accounts in different currencies, provided you are using multi-currency facilities. You cannot amend this once transactions have been posted for the account.

Processing

Prerequisites

Bank Account Entries

General

Controls