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Bank

In today's business world, banks are on the way to becoming a direct part of businesses. On the other hand, it is necessary to have appropriate tools in order to use diversified and complex banking products and services effectively in businesses. In addition to the known bank transaction functions, W3 has module functions such as credit card, automatic payment, pos, and provisioning. In addition, Workcube applications such as credit management and loan payment and follow-up tools, direct debit system (DBS), and online commerce with the bank module offer businesses new job creation options.

The bank module has a familiar and simple setup. Like other W3 applications that make monetary transactions, "Transaction Type" settings and accounting, budget and current records are made simultaneously. Every transaction is recorded in three currencies. The actual transaction costs are recorded in the simultaneous expense by selecting the budget item.

Example Case: Acme company works with 3 banks. This company opened TL accounts with Alfa Bank, TL, Euro and USD accounts with ZetBank, and TL and USD accounts with Dood Bank. The bank also opened a TL Loan account because they've taken a loan from the third Bank. Bank accounts and accounting account connections of Acme company can be configured as follows.

Bank Account
Accounting Account
Alfa Bank
102.01 Alfa Bank
Alfa Bank TL Account
102.01.01 Alfa Bank TL Account
ZetBank     
102.02 ZetBank
ZetBank TL Account
102.02.01 ZetBank TL Account
ZetBank Euro Account
102.02.02 ZetBank Euro Account
ZetBank USD Account
102.02.03 ZetBank USD Account
Dood Bank
102.02 Dood Bank
Dood Bank TL Account
102.03.01 Dood Bank TL Account
Dood Bank USD Account
102.03.01 Dood Bank USD Account

Bank accounts are also used in checks, promissory notes payments, and collections, collateral, and clearing transactions. For example, when you send a customer check to the bank for collection, you perform this transaction in the W3 Check - Note module. Therefore, in order to use check-note functions, check-note accounting connections must be made to bank definitions.

Other Accounting Accounts to be Connected to Bank Account Definitions are as follows.

Outstanding Checks
It connects to accounts starting with 103.
Clearing Checks
It connects to accounts starting with 101.
Note Clearing
It connects to accounts starting with 121.
Pledged Checks
It connects to accounts starting with 101.
NSF Checks
It is held in accounts starting with 101.
If execution proceedings begin
It is put into 128 Provisions for Doubtful Debts.
Protested Notes
It is held in accounts starting with 121.
If execution proceedings begin
It is put into 128 Provisions for Doubtful Debts.
Bank Instruction
It is held in a bank account starting with 102.
It can be reserved to keep the records of the transfers paid by special order separately in the accounting accounts.

Before Use
Before starting to make bank transactions in W3, the following definitions must be made correctly.

  • Transaction Types and Authorizations
  • Bank Names and Branch Offices
  • Bank Accounts
  • Budget items of expenses made in Bank Transactions
  • Credit Cards (For Credit Card Users)
  • POS Definitions (For POS Device users)
  • Automatic Virtual POS Rules (For those with Virtual POS agreement)

Bank Module Functions

  • Bank Transactions List
  • Bank Account Opening
  • Withdrawal
  • Deposit
  • Incoming Money Transfer
  • Outgoing Money Transfer
  • Transfer
  • Bank Instructions
  • Payments by Credit Card
  • Credit Card Collections
  • Credit Card Account Transfer
  • Exchange Valuation Transactions

Related Functions in Other Modules

  • Budget / Expenses (If bank transaction costs are entered)
  • Current / Current Transactions List (Current transaction bank records)
  • Debt Management / Debt/Credit Breakdown (Current bank records)
  • Debt Management / Debt Aging (current bank records)
  • Debt Management / Invoice Closing (Current bank records)
  • Cash / Cash Transactions List (Records withdrawn and deposited to Cash Account)
  • Accounting / Accounting Transactions (Records that perform accounting operations)
  • BI / Standard Reports / Payment and Collection Analysis
  • BI / Budget Report
  • Records in the expense and income receipts for which Project, Work, Physical Assets are specified can be followed on the relevant screens.

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