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Bank Accounts
- 29 May 2024
- 3 Minutes to read
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Bank Accounts
- Updated on 29 May 2024
- 3 Minutes to read
- Print
- DarkLight
- PDF
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Marlin Tyre and Mechanical Workshop Software enables multiple bank accounts to be added to use for bank deposits, payment processing and reconciliation.
To view and edit bank accounts, select Master Files > Accounts > Bank Accounts from the menu bar.
The Bank Accounts master file will open on the Search window, showing a list of active bank accounts for the selected company.
The company can be changed using the filter to the top right.
Adding Bank Accounts
Master Files > Accounts > Bank Accounts
To the top right of the Bank Accounts Search list, click on the Add action button.
The bank account window will open on the Details tab, which contains a form for adding a new account.
At the top of the details tab, use the picker to select which company the bank account is for.
In the textboxes below, enter the details of the bank account.
Once the bank account has been saved and used, it's balance will be updated in the Current Balance textbox.
Use the Account picker to select a GL account to link the bank account to.
Note
Each bank account should be linked with their own, separate GL account.
To allow users to select this bank account as a payment method, leave the Allow Bank Transfer checkbox ticked.
Note
The Allow Bank Transfer checkbox is a global setting that will affect all branches within the company linked to the bank account. The bank accounts available for bank transfer can also be filtered using the Payment.FilterBankAccountByBranch enterprise setting.
When enabled, only bank accounts that are associated with an EFT terminal at a branch will be available to select for bank transfer. Users who have the View Bank Accounts permission can still press F4 when choosing an account for bank transfer to access the full list of bank accounts.
Supplier EFT Payments
If intending to generate EFT banking (ABA) files for the account, using the Supplier EFT Payments module, use the EFT File Format dropdown to select the appropriate format and enter the Financial Institution Code and Bank Entry User ID in the textboxes that appear below.
See the Supplier EFT Payments setup section for further information.
Leave the Active checkbox ticked to activate the new bank account within the Marlin system.
The EFT Types list at the bottom of the Details tab can then be used to add merchant fees and customer surcharges to any EFT terminals that are linked to this account.
To save the new account and return to the Search list, click on the Save action button at the top right of the module window.
Bank Account Fees and Charges
Master Files > Accounts > Bank Accounts > [Bank Account] > Details
The EFT Types list at the bottom of a bank account's Details tab contains entries for each active EFT Type within the Marlin system.
Different settings can be configured for each EFT Type by entering information in the relevant cells.
In the relevant Settlement Days cell, enter the number of days it takes for the bank to deposit funds into the account.
Example
Entering "2" in an EFT Type's Settlement Days cell will date the settlement deposit to two days after the relevant EFT terminal is settled.
In the relevant Merchant Fee cell, enter if any merchant fees are to be taken from the EFT settlement as a percentage.
If a merchant fee is entered, click in the Merchant Fee Account cell and use the picker that appears to select the expense account the fee will be posted to.
If surcharges are enabled, Customer Surcharge Rate and Surcharge Account cells will also appear in the EFT Types list.
To apply a surcharge to customer invoices paid with this EFT type, enter it as a percentage in the Customer Surcharge Rate cell.
If a surcharge is entered, click in the Surcharge Account cell and use the picker that appears to select the revenue account the surcharge will be posted to.
Note
The Merchant Fee Account and Surcharge Account pickers only allow selection of accounts that do not allow sales or purchases.
To save the changes and return to the Search list, click on the Save action button at the top right of the module window.
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