User Guide

Changes and New Features in Bank Services
8 Sage Accpac ERP Extended Enterprise Edition
Ability to Inquire on Posted Bank Transactions
Because Bank Services now keeps a history of posted transactions, you
can review bank transactions even after posting them.
A new Transaction History Inquiry form lets you look up the status of
transactions that affect your bank accounts, and print the results of your
inquiry. You can also drill down from this form to view selected
transactions in the original entry form in Bank Services, Accounts Payable,
Accounts Receivable, or US or Canadian Payroll.
More Efficient Transaction Reversal
A new Reverse Transactions form lets you reverse both payments and
receipts more easily than in previous versions.
The Reverse Payments and Return Customer Checks forms no longer
exist.
Note: You must use the Reverse Transactions form to reverse
deposits in version 5.6. You cannot reverse deposits by changing
their reconciliation status in the Reconcile Statements form.
You can reverse a deposit that was entered (but not cleared) in Bank
Services version 5.6. The program removes the reversed transaction from
the Reconciliation tab of the Reconcile Statements form. Corresponding
journal entries appear on the Bank Entries Posting Journal and, once you
post the reconciliation, on the Reconciliation Posting Journal (in the
Summary section).
You can also reverse a deposit that was entered in Bank Services
version 5.5, or earlier, provided the deposit has not been cleared. When
you reverse a deposit entered in an earlier version, Bank Services creates
an offsetting withdrawal entry with Outstanding status. It also resets the
deposit status to Outstanding (similar to the treatment of deposits from
Accounts Receivable). Both the offsetting entry and the reversed deposit
remain outstanding on the Reconcile Statements form, where you can
clear them in the next bank reconciliation.
Paycheck
reversal
IMPORTANT:
If you use Sage Accpac Canadian or US Payroll, read
the section “Bank Services Changes that Affect Paycheck
Reversal,” later in this document, for important information about
how this new functionality in Bank Services affects the reversal of
paychecks.