Banking

The Quick Easy Banking Module enables Users to import bank statements from any local bank using the Open Financial Exchange (.ofx) format. After importing a file, the imported file will be renamed with the Batch ID and a Date and moved to an 'Imported' sub-folder. Duplicate Transactions can therefore not be imported.

For more about the benefits and features of the QuickEasy BOSEnterprise Banking Module, click here.

Discover Banking

Get Started
Banking Setup
Banking Interface
Banking Transactions

Get Started

The Banking Module is a fixed Module that needs to be added to the Main Menu or/and to the Tile menu using Main Menu > Setup > Menu Manager.

For more about the Menu Manager, click here.

Note

It is recommended to use the Banking Module in the Side-panel. This allows you to use the Banking Module alongside the Ledger.

Banking Setup

The following is important to set-up before attempting to use the Banking Module:

Create a Bank Account Category - Navigate to Main Menu > Setup > Accounting > Categories > Add to create an Accounting Category for the Banking Module. See image below:

Create a Bank Account - Navigate to Main Menu > Setup > Settings > Accounting > Accounts > Add: The Bank Account descriptions must include the bank Account Number, e.g., Bank - FNB62075828502. See example below:

Select Account Category for Banking - Navigate to Main Menu > Setup > Settings > General > Accounting Group > Account Category - Banking and select the Banking Account Category you created. See image below:

User Access - User Access must be granted, navigate to Main Menu > Setup > Settings > Users > Accounting Group > Banking - Access Allowed. See image below:

For more about Accounting Setups, click here.

Banking Interface

Navigation

Main Menu > Accounting > Banking > View

Date Filter - This allows you to filter the data displayed in the data grid by date period.
Status - This allows you to filter the data by Status.
Account - This allows you to filter the data displayed in the data grid by Account.
Search - This allows you to search for records by simply entering a description or ID code.
Menu - The Menu button provides the following additional functionality:
- Reset Data Filters - This will reset the data filters back to default.
- Import - This allows you to import Bank Statements (OFX File) from any Bank by selecting the exported file. When running on a cloud server, the file must first be copied to the server before it can be imported.
  - Once an OFX file has been imported, it will automatically be moved to an Imported folder and cannot be imported again.

Note

Where regular Standard Bank Online Banking exports with ease, Standard Bank Business Online cannot export to .OFX

It is therefore suggested that those with Standard Bank register for each (regular Online Banking and Business Online Banking) separately in order to export to OFX (by default they only get access to Business Online). Companies are able to be both Business Online users, as well as regular internet banking users.

Import Troubleshooting

Importing a Bank Statement will not work successfully if the Account No. is not entered in the corresponding Bank Account's Description in Main Menu > Setup > Accounting > Accounts.
Make sure to set your Computer's Decimal symbol to (.). Navigate to your computer's Control Panel > Clock and Region > Region > Additional Settings > Decimal symbol = (.).

If your Decimal symbol = (,), you'll receive an "Invalid floating point value" error.

6. Bank - This column indicates the Amount that was allocated.

7. Ledger - This column indicates the Amount that is outstanding from the Transaction.

8. By right clicking on a record (or by clicking on the Ellipsis) provides the following additional functionality:

Open Transaction - This will open the Bank Transaction (more below).
Set Status to - This allows you to change the Bank Transaction's Status.

9. Summary - A summary of the Bank and Ledger amounts for the selected Account will be displayed here.

Note

It is recommended not to make 'Pending' and 'Cancelled' Statuses available on Payment/Receipt Transactions.

Bank Transaction

Navigation

Main Menu > Accounting > Bank > View > Right-click on Transaction > Open Transaction

When you open a Transaction from the Bank side-panel the Ledger will simultaneously open, displaying the selected Transaction. See image below:

Edit Ledger - This is the Ledger interface. The Ledger will display the Ledger transaction linked to the Bank transaction, if one was created.
Edit Bank Transaction - This is the Bank transaction opened in the Bank side-panel. See more below:

Bank Transaction - Here you will find the Date the Transaction was made, the current Status and the Description of the Bank Transaction.
Amount - This indicates the Bank Transaction's Amount.
Ledger - This indicates the Amount that has been Allocated in the Ledger.
Variance - This indicates the Outstanding Amount for the Transaction.
Matching Records - The Matching Records field will display any Transactions in the Ledger that matches this Transaction.
Create or Update from Matching - This button will create or update a Ledger Transaction from a previously created Matching Transaction.
- If there is no Matching Transaction, this field will be greyed out as shown above.
Transaction Types - This field shows all the Transaction Types this Bank Transaction may link to.
Create or Update from Trans Type - Select a Transaction Type (7) that you want this Bank Transaction to link to, and click on the Create or Update from Trans Type button to create a Ledger Transaction.

Once the Amount has been Allocated in the Ledger, the Status will automatically be set to Posted, and the Ledger Amount will be populated, setting the Variance field to zero. See image below:

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