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“Bank On It - Changing Financial Institutions in GP Isn’t So Bad”

“Bank On It - Changing Financial Institutions in GP Isn’t So Bad”. Christine Galea & Tom Weaver. Objectives. Walk through the windows that are impacted with a bank change. Paths are stated in the slide notes. Discuss printer settings. Identify potential issues you may encounter.

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“Bank On It - Changing Financial Institutions in GP Isn’t So Bad”

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  1. “Bank On It - Changing Financial Institutions in GP Isn’t So Bad” Christine Galea & Tom Weaver

  2. Objectives • Walk through the windows that are impacted with a bank change. Paths are stated in the slide notes. • Discuss printer settings. • Identify potential issues you may encounter. • Other items to take into consideration when changing banks that you could possibly encounter.

  3. Agenda • Bank and Checkbook Maintenance • EFT and SafePay Configurations • Checkbook, Vendor, and Credit Card Setup • Mekorma MICR and Check Printing • <TEST> Company issues • Printer Settings • Electronic Reconciliation • Suggestions and Questions

  4. Bank Maintenance • Old Bank Maintenance • New Bank Maintenance Transit Numbers

  5. Checkbook Maintenance • New Checkbook • Old Checkbook This assumes you are going to use the same cash account with the new checkbook. You may want to create a new cash account to go with the new checkbook.

  6. EFT Bank • Old EFT Setup • New EFT Setup You have to input the transit routing & account numbers of the new bank. Bank Identification Number shows up on vendor statements.

  7. EFT Payables Options • Old EFT Payables Options • New EFT Payables Options

  8. EFT Receivables Options • Old EFT Receivables Options • New EFT Receivables Options

  9. Additional Information about Payables and Receivables EFT Options • If the new bank uses the same format, you can use the same EFT format you have created for the old bank. • If you want to start the EFT numbers in the new bank with the ending number of the old bank, you can just update the Next EFT Payment Number value.

  10. EFT File Format Maintenance File Header, Batch Header, Detail, Batch Control, File Control, Addenda? • Old Format • New Format

  11. Safe Pay Configurator • You will need to create a new Bank Format in the Configurator window to meet the new bank’s specification.

  12. Safe Pay Bank Link Maintenance • Old Safe Pay Bank Link Maintenance • New Safe Pay Bank Link Maintenance

  13. Payables Setup Confirm that the Bank Checkbook ID defaults in when cutting checks. • Old Payables Setup Window • New Payables Setup Window

  14. Vendor Class Roll Down of Checkbook ID • Old Vendor Class • New Vendor Class

  15. Vendor Card • Old Vendor Card • New Vendor Card

  16. Receivables Setup • Old Receivables Setup • New Receivables Setup

  17. Payroll Setup • Old Payroll Setup • New Payroll Setup

  18. Mekorma MICR Setup

  19. Mekorma MICR Integration

  20. MICR Placement

  21. Configurable Stubs

  22. MICR Line Fine Adjustments

  23. <TEST> Company Issues • SafePay: There is no check transaction type setup. Upload aborted. KB855751 • Checkbook: Your company address in not defined in the Company Address ID field… • Checks: The folder for the MICR.stb files is not configured properly on your setup…

  24. Printers • Courier Font, 600/1200 DPI • Dark (Regular) • Resolution • ProRes 1200 (FastRes 1200) • Toner Density • 5 (3) • EconoMode = OFF • High Yield Toner • Do not use recycled cartridges

  25. Credit Card Setup • Old Credit Card Setup • New Credit Card Setup

  26. Electronic Reconcile Configurator • As with Safe Pay, if the new bank has a different format for sending electronic transactions, you may need to create a new Bank Format.

  27. Electronic Reconcile Download Maintenance • Old Download Maintenance window • New Download Maintenance window

  28. Potential Issues • Payee Name Conflict • Name on check does not exactly match safe pay file • Field length? • Do not use italics on the check • Differences in terminology: SafePay vs. PositivePay, etc. • Extra time to submit test files and checks

  29. Suggestions • Capitalize Vendor Names and Addresses UPDATE PM00200 SET VNDCHKNM = UPPER(VNDCHKNM), VENDNAME = UPPER(VENDNAME), VENDSHNM = UPPER(VENDSHNM) UPDATE PM00200 SET ADDRESS1 = UPPER(ADDRESS1), ADDRESS2 = UPPER(ADDRESS2), ADDRESS3 = UPPER(ADDRESS3), CITY = UPPER(CITY), STATE UPPER(STATE) • Check the status of the Process Monitor during Vendor Class Roll Down of the Checkbook ID

  30. Other Considerations • Bank Reconciliation • You’ll have to juggle two banks for awhile at first once checks have been written and cleared. • Do you have any… • SmartLists based on the Checkbook ID? • Reports based on the Cash Account?

  31. QUESTIONS? • Christine Galea, Microsoft • chgalea@microsoft.com • Tom Weaver, Excelsior College • tweaver@excelsior.edu

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