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.
These pairs can't be edited. If you need to change a pair, you must delete it and create a new one.
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.
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.
Select Bank Management from the Banking menu, and the Bank Management window opens.
Select the bank whose accounts need to have element value pairs set up, and click Edit, or click the Bank Name link. The Edit Bank window opens.
Select the account, and click Edit, or click the Account Number link. The Edit Bank Account window opens.
Click Add, and the Add Fund - Controlling Element Pair window opens.
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.
Select a Controlling element value. The available controlling element balancing accounts 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.
Click Save if you've finished adding pairs or Save and Add to designate additional 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 Management Overview