Banking > Manage Bank Account


Use this page to view and manage existing bank accounts and set up new ones. 


Add a New Bank Account


Step 1. Navigate to Banking > Manage Bank Account


Step 2. Complete Search fields to locate the Bank Account/s you need to view. 


Step 3. Click the Pencil icon to open the record. 


Step 4. Select Add Account from the Page Action drop down menu.



Step 5. Complete the information fields in the Manage Bank Account  popup window.


Manage Bank Account- Account Section


  • Association - Select the Association from the dropdown list.


  • Bank - Select the Bank from the dropdown list. 


NOTE- If the Bank you need is not on this list, you will first need to add it on the Manage Bank page. CLICK HERE for more information. 


  • Master Bank Account - Choose Master Bank Account from dropdown list, if needed.  Specifying a Master Bank Account allows you to tie together several logical bank accounts into a single physical bank account.  For example, you may have several insurance claims that you need to track separately but do not want to set up separate physical bank accounts.  By selecting a Master Bank Account for each sub-account, the individual claim account balances will be maintained even though all activity is going through the physical (Master) bank account.


  • GL Account - Select the General Ledger Account from the dropdown menu. 


NOTE- In order to add a new Bank Account you must first create a corresponding GL Account for it via the Manage Chart of Accounts page. If you have not yet done that, CLICK HERE for more information. 


  • Title - Enter a descriptive title for the bank account. This is used in dropdowns and on reports.


  • Account Number - Enter the bank account number. This number will be printed on the checks and is used to retrieve nightly bank transactions when using bank integration.



  • Fraction Number - Enter bank Fraction Number, if needed.


  • Address Line 1 - 4 - Enter the bank address if needed.


NOTE- Banks are added at the Firm level using the Manage Bank page. If the address of the Bank you are using does not match the Firm level address, enter the address here to override the default. 


  • Next Check Number - Enter the next check number to be printed. To prevent duplicate check numbers, this value can only be changed to a value higher than the previous check number. Once set, the system automatically advances this to the next sequential value when a check is created.  


NOTE- To prevent duplicate check numbers, checks paid from a sub account will use the master account account number and next check number.  This is because only the master account exists at the bank.


  • Min Alert Balance - This value is used on the Bank Balance Alert report to identify bank accounts below this minimum threshold. 



  • Check Allowed - Check this box to enable checks to be created from this bank account. When checked, the bank account will appear on the dropdown list on both the Manage Invoice and Pay Invoice pages.


  • Check Allowed Default - Check to designate the account as the default account from which to create checks. 


NOTE- Only one account can be flagged as the Default account from which to create checks.


  • Deposit Allowed - Check to enable deposits to be made into this bank account.


  • Deposit Allowed Default - Check to designate the account as the default account for deposits. This displays the default bank account when selecting a bank account for a deposit.  


NOTE- Only one account can be flagged as the Default account for which to make deposits.


  • Negative Balance Allowed - Check this box to allow checks to be written against this account that would make the balance negative. Unclick to prevent over drafting the bank account.


  • Inactive - Click on this flag to make the account Inactive.


  • Bank Interest Account - Select the correct Interest GL Account from the dropdown menu.


  • Bank Transfer Payee Name - Enter a default name to be used when bank transfer checks are created on the Manage Bank Transfer page.


  • Signature Image - Upload an image file of a signature to be printed on checks if the check template uses the merge field. 


NOTE- The image file should be a .jpg or .png and be approximately 300 x 150 pixels. Generate a sample check to confirm the image size and placement.


  • Signature Image 2 - Upload a 2nd Signature Image, if applicable.


  • Signers - This field captures the authorized Signers on the bank account, if different from Signers on the Banking > Manage Bank page. 



Manage Bank Account - Bank Integration Section


Account Number - This section is used to link the bank account to the bank in order to retrieve nightly transactions and bank statements. Click on the Verify Account button and uManage will ping the integrated bank to verify the account number.



Manage Bank Account - Lockbox Section


  • Enable Lockbox - Check this box to enable lockbox processing for this association/bank account. This will allow for automated processing of all payments incoming through the Lockbox.


NOTE- Only one lockbox bank account can exist for an association. 


  • Lockbox Verified - This field is automatically set by the banking integration once the lockbox account has been set up and verified by the bank.


Manage Bank Account - Account Details Section


  • Account Type - Choose the bank Account Type from the dropdown list.


  • Maturity Date - Enter the Maturity Date of the account if applicable


  • Interest Rate - Enter the Interest Rate (as a percentage) on the account, if applicable


NOTE - Enter additional notes for the bank account, if needed.



Step 6. Click the Save Add button to finalize the new record.

 

How to Link an Integrated Bank Account


Bank integration works by using assigned Identifying numbers to route incoming payments through the three levels listed below. It is critical to the proper functioning of the integration that the Management Company ID and Association ID numbers in eUnify match the numbers at the Bank. 


  • Level 1 -  Management Company ID - This number will typically be the same for all Associations within the Management Company and cannot be changed. 


  • Level 2 -  Association ID - This number is typically assigned to the Association by the Management company. 


NOTE- Before you begin the Bank Integration process, it is important that you communicate with your Bank to determine their specific requirements for the Association ID number. This number is generated automatically when the Association is set up in eUnify, but can be modified if needed. 


To view or edit the eUnify assigned Association ID number navigate to Association > Manage Association page, Integration Tab.



  • Level 3 -  Owner Account number. This number is assigned by the Management Company and not applicable to the initial set up. 



Edit a Bank Account


Step 1. Navigate to Accounting > Banking > Manage Bank Account


Step 2. Complete Search fields to locate the Bank Account or Accounts you need to view. 


Step 3. Click the Pencil icon to open the record. 



Step 4. Click on the highlighted bank account number in the Bank Integration Section.


Step 5. Make necessary changes. 


Step 6. Click the Save button to finalize your changes. 



To View Bank Accounts


This page will allow you to view detailed transaction information for all bank accounts linked through a fully integrated bank, and allow you to view the set up details of other bank accounts. 


Step 1. Navigate to Accounting > Banking > Manage Bank Account


Step 2. Complete Search fields to locate the Bank Account or Accounts you need to view. 

  

View Transaction Detail


Click on the account number of the linked bank account to display up to date bank transactions.


NOTE- This option is only available for integrated banks. If the account is linked, the account number will appear as a hyperlink. CLICK HERE for more information. 



User will be able to view the following details:


  • Current Balance - Current Balance of the bank account as of the date/time indicated.  


NOTE- Click Refresh link to get the most current information from the bank.


  • TransactionId - ID number for transaction.


  • Trans Date - Date transaction cleared the bank.


  • Type - Transaction Type.


  • Amount Debit - Amount of the debit.


  • Amount Credit - Amount of the credit.


  • Check Number - Check Number of the cleared item.  


NOTE- Click on the link to see the item image.


  • Description - Item Description.


  • in GL - Indicates if the item was matched to a corresponding General Ledger entry. 


NOTE- In order to expedite the Bank Reconciliation process, the system will automatically match up bank transactions to their corresponding General Ledger entries, when possible. If the system is unable to match the Transactions, you will need to manually match them. To further assist the Bank Reconciliation process, the system will note throughout the month if there are unmatched Transactions via the Needs Attention portion of your dashboard, the Bank Reconciliation page, and through an automated Report, if you choose.



View Check


Click the Check # hyperlink to open a PDF copy of the check. 




View Previous Statements


On the Far right, in the Statements portion of the page, click the hyperlink to open a past statement.