Banking

Maintain tight control in the important area of banking, while effectively monitoring cash inflows and outflows. Banking in Microsoft Small Business Financials allows you to seamlessly integrate all cash, check, and credit card transactions, track bank account balances, and automate the monthly process of reconciling these accounts.

SETUP

• Set up checkbooks: Set up an unlimited number of checkbooks for use throughout Small Business Financials and assign each checkbook its own cash account number. Track transactions and balances for each checkbook.

DAILY TASKS

• Record deposits: Cash receipts entered in other modules automatically appear available to group together on a deposit or enter as a lump sum deposit. Deposits can be edited or voided from a single location.
• Transfer funds: Transfer funds from one checkbook to another in a single transaction, saving time and reducing the potential for error.
• Transaction entry: Easily enter or void transactions—including checks, withdrawals, increase adjustments, decrease adjustments, and receipts—directly within banking task windows.
• Edit or void transactions and checks: Edit or void deposits or record single-sum deposits. Void printed checks and record voided manual checks by entering zero-amount checks.
• Miscellaneous checks: Quickly print and post a check when you need to make a payment to someone who is not set up as a vendor or employee.

PERIODIC TASKS

• Reconcile checkbooks: Reconcile accounts automatically, whether you have one account or several accounts with multiple bank transaction sources and destinations. Perform reconciliations for multiple checkbooks at the same time.
• Bank-to-book transactions: Enter interest income and service charges during reconciliation to save time. Adjustments automatically post to general ledger accounts during reconciliation.
• Adjustments: Make adjustments to your records easily, even during reconciliation, without needing to enter a separate transaction.

REPORTING

• Transaction review: Drill down for specific transaction information: individual checkbook balances, reconciled and unreconciled transactions, deposit number, date, and status.
• Cash flow calendar: Gain insight into your cash position using a cash flow calendar that can define specific date views of balances for current and future funds.
• Transaction detail reports: Define ranges to view unreconciled transactions, reconciled transactions, or all transactions. Drill down to display the originating transaction for complete audit control.
• Banking history reports: Maintain records of transaction and reconciliation history for as long as you need them.

Note: Small Business Finacials will no longer be sold to new customers after 1/1/09