IET Cash Management Bank Setup

Using the Cash Management 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.

G/L ACCOUNTS USED IN CASH MANAGEMENT

The bank entry in the source company reduces/increases the Clearing Bank Account to zero.

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.

See:  Transaction Routes

Sage 300 options and Cash Management

Some options in Common Services > Bank Services impact the functionality of Inter-Entity (Cash Management).

For detailed examples, review

Inter-Entity (Cash Management) and Sage 300 Options

Cash Management and Reversals

Reversals in Bank Services are processed differently if using Cash Management 1-step or 2-step.

For details, Cash Management and Reversals