IET Cash Management Bank Setup

Using the CM Bank screen

Use this screen to create “virtual” banks in your Sage 300 databases to be used by Inter-Entity Cash Management.

For details on using Inter-Entity (Cash Management), refer to Using Cash Management .

You configure Sage 300 Banks in the Cash Management Bank screen to automate :

Bank Transfers from one Sage 300 Company {database} to another Sage 300 Company {database} without recording the transaction twice.

Payment and receipt processing across multiple companies to enable

One-Step Cash Management processing : where you run a management company to enable AR Invoices and AP Invoices to be recorded in one central database, but where the payment is to be made from or the receipt is to be processed into a second database.
Two-Step Cash Management processing : where you enter AP invoices and AR invoices in multiple Sage 300 databases for statutory and tax reporting, but wish to transfer the documents to a management company for consolidated payment and receipting.

Cash Management and Reversals

Cash Management 1-step processing caters for bank reversals done in Bank Transactions. If using 1-step processing, Cash Management will generate the bank entries for the reversal in the source and the target companies.

If you use 2-step processing , Cash Management doesn't cater for AP and AR Reversals done in Bank Transactions. When AP or AR Transactions relating to a bank configured in Inter-Entity (Cash Management) two-step processing are reversed, AP and AR Credit Notes need to be manually entered in the target databases and applied to the IET generated AP and AR Invoices.

G/L Integration Option

If you configure the G/L Integration option in Common Services > Bank Services > Bank Setup to "Create G/L Transactions by" to "Creating and Posting a New Batch", you will get the following error message when posting a reversal in Bank Services.

"No active transactions allowed for auto-post" .

All bank entries will be auto-posted to the G/L except for the CS Bank Reversal resulting Bank Entry when reversing AP Payments or AR Receipts that were processed across multiple entities. In this case you will receive the error message "No active transactions allowed for AutoPost" for the G/L Batch created by Bank Services for the IET Bank Entry. The G/L Batch will have to be posted manually.

If you configure the "Create G/L Transactions by" to "Creating a New Batch", the GL Batch is created, but not auto-posted. The resulting G/L Batches for all Bank Entries (both auto-created by Inter-Entity Transactions and manually entered Bank Entries) will have to be posted manually.

For details fields and controls, see Cash Management Bank Setup

Default Options in Bank Options

Remove all defaults in the Common Services -> Bank Services -> Bank Setup -> Bank Options > Processing tab, i.e.:

Default Bank Code

Default Distribution Code and Default G/L Account in Transaction Options

Note:

If you have configured "Default Options" for your Bank Options in the company where Bank Entries are created, the IE auto-generated Bank Entry will fail with the following message:

Error: Bank Entries Header. Attempt to change read-only field 'Bank Entry Type'.

G/L ACCOUNTS USED IN CASH MANAGEMENT

You don't need the Default options as Cash Management needs to set the accounts.

The bank entry in the source company reduces/increases the Clearing Bank Account to zero – using the pre-defined loan accounts between the source entity and the target entity as defined in the IET Transaction Routes for the entity relating to the actual bank account configured for the Clearing Bank Account in IET Cash Management Banks.

The bank entry in the target company reflects the original transaction entered in the source entity - using the pre-defined loan accounts between the source entity and the target entity as defined in the IET Transaction Routes for the entity relating to the actual bank account configured for the Clearing Bank Account in IET Cash Management Banks in the source entity.