User Guide

Changes and New Features in Bank Services
What's New in Version 5.6 9
Terminology Changes
Payments, Withdrawals, and Deposits
In previous versions, all transactions were either “withdrawals” or
“deposits” in Bank Services.
Deposits
In version 5.6, “deposit” describes all funds moving into the bank
account.
The following transactions are classified as deposits on the Reconcile
Statements form, Bank Entry form, Transaction Listing report,
Reconciliation Status report, Bank Reconciliation report, and Deposit
Status report:
• Deposits.
• Withdrawal bank errors where the Withdrawals amount is greater than
the Cleared Amount.
Withdrawals
Now, “withdrawal” describes funds moving out of the bank account.
The following transactions are classified as withdrawals on the Reconcile
Statements form, Bank Entry form, Transaction Listing report,
Reconciliation Status report, Bank Reconciliation report, and Withdrawal
Status report:
• Payments.
• Withdrawals.
• Reversed receipts.
• Deposit bank errors where the Cleared Amount is greater than the
Deposit amount.
Payments
A/R refunds, A/P payments, and payroll checks are labeled “Payments” on
the Transaction History form, Transaction History report, Reverse
Transactions form, and Check/Payment Register.
New “Outstanding” Status for Deposits
“Outs
tanding” reconcili
ation status is now used for deposits, rather than
“In Transit.”
Other Changes for Bank Services
• When checking data integrity for Bank Services, you can check restart
records, only. (There is no Fix option for restart recovery.)