I have been asked this question for over 15 years, now I am asking you......
When are we going to remove Bank Codes and use the GL account as the reference for generating checks, AJE's (could eliminate that dreaded TJE function), Cash Receipts, Deposits, EFT's and ACH payments. It would eliminate sooo many issues - running out of Bank Codes, selecting the incorrect Bank Code, formatting the Transaction Journal Entry (TJE) incorrectly; just to name a few. Clients have stated they really dislike the Transaction Journal Entry function, do not understand it and rarely use it. So, now you have one task and an entire module not being utilized properly.......because of the Bank Code.
by: Kathleen M. | over a year ago | Financial Management
Comments
We need the bank code separate from the GL Account. We use multiple bank codes for the same bank account. Therefore, needing a separate GL account in our case would create issues.