Assign Element Value Pairs

Use the Assign Element Value Pairs grid to give funds access to the bank account.

A check or warrant is created by examining the fund and controlling elements for the balancing account associated with the general ledger transaction that is being created. These element values are then matched against the bank account that has the associated element pair.

Balancing accounts

• If a fund will be issuing warrants, that fund and the controlling element of its AP Disbursements balancing account must be assigned to a bank account.

• If a fund will be issuing paychecks, that fund, its Payroll Disbursements balancing account controlling element, and its Payroll Liability Disbursements balancing account controlling element must be assigned to a bank account.

• Balancing account element values are defined in Chart of Accounts Administration > Element Values Maintenance.

Due To & Due From transactions

• If a fund other than the owner fund is given access to a bank account, Due To and Due From transactions are generated to transfer money between the associated fund and the owner fund when checks are issued for the associated fund.

Assign element value pairs

1. Select Bank Account Management from the Banking menu, and the Bank Account Management window opens.

2. Select the bank whose accounts need to have element value pairs setup, and click the Edit button at the bottom of the window. The Bank Detail window opens.

3. Select the account number, and click the Edit button. The Bank Account Detail window opens.

4. Click the Add button at the bottom of the window, and the Assign Element Value Pairs window opens.

5. From the Fund list, select a fund that will be allowed to draw checks on this bank account. The available fund element values in this list come from the account structure associated with the bank account.
   Note: If the bank account has an owner fund and a different fund is selected in this field, Due To and Due From transactions will be written when checks are printed for the non-owner fund.

6. From the Controlling list, select a controlling element balancing account value. The available controlling elements in this list are limited to Asset account types and come from the account structure associated with the bank account.
   Note: Balancing account element values are defined in Chart of Accounts Administration > Element Values Maintenance.

7. Click Save. The selection is saved, and you're returned to the Bank Account Detail window.

8. Repeat steps 4 - 7 until you've finished assigning element value pairs.

Note: These pairs can't be edited. If you need to change a pair, you must delete it and create a new one.

Return to Add a Bank Account to a Bank

Return to Bank Account Management Overview