Corporate ID Maintenance

Description

The full name of the corporation. Corp 01 is your credit union name.

The corporation address, city, state and ZIP code (5 digits are required; the additional 4 digits are optional).

• NOTE: This is the address used by tax processing.

The county name in which the corporation is located.

The area code and phone number.

Insert your credit union web address here. You can configure to add this web address to be added to Miscellaneous Member Account Forms, Loan Statement Notices, and Laser Notices by checking the check box on the appropriate screens.

J/E Processing and Posting Features

The month number indicating fiscal year end (e.g., for a fiscal year end of December, enter “12”).

This very important field shows the current G/L processing year and month. This field must be modified in order to allow posting to a prior month. This is automatically incremented to the next month after month-end processing is complete.

SEE ALSO:Monthly and Yearly G/L Processing - "Closing the Books"

The general ledger account number that represents the credit union's bank account balance.

• Banks are configured using the CU Check/Bank Definitions feature available via Tool #323: CU Check/Bank Definitions

This field is checked only when performing year-end processing procedures at the end of December.

SEE ALSO:Monthly and Yearly G/L Processing - "Closing the Books"

New Member Processing

These fields govern how the system handles new memberships

These fields indicate the bank where checks are drawn. Banks are configured using the CU Check/Bank Definitions feature available via Tool #323: CU Check/Bank Definitions.

• This field cannot be left blank

These fields indicate a bank where money orders are drawn.

• This field cannot be left blank.

These informational fields indicate the standard Change Fund G/L account.

These informational fields show where the balances from income and expense accounts are moved during year-end processing.

• This information must also be attached to each individual income and expense G/L account when the chart of accounts is created.

• SEE ALSO: Monthly and Yearly G/L Processing - "Closing the Books"

If checked, the system will recognize the first three characters of a 9-digit member account base number as matching the corporation number. This prevents an account number such as 100022387 from being assigned to a member of corporation 16.

• The system does not assign the numbers; it merely recognizes what the digits mean.

Check to allow account base numbers up to 9 digits.

If checked, CU*BASE will automatically assign account base numbers to new memberships, using the next available number after the number shown in the Last Account Used field and the increment shown in the Increment by field. Otherwise you will need to designate an account number manually for each new account opened (not recommended).

If the Generate account #s is checked, CU*BASE automatically assigns the next available account number sequentially, incrementing by the number entered here (maximum 999).

For example, if Last account used is 100 and Increment by is set to 1, the system would automatically assign the next available (unused) account number sequentially, incrementing by 1 (e.g., 101, then 102, then 103, etc.).

• HINT: If Increment by is set to a higher number such as 97, when a husband and wife both open accounts at the same time, instead of assigning, for example, 1946 and 1947, the system would assign 1946 and 2043 (1946 + 97 = 2043). This helps prevent keying errors at the teller line or by a phone operator.

This field indicates whether or not your credit union uses multiple corporation numbers (Y=Yes, N=No).

This field shows the dividend application code for the base share account (-000). The default setting is “SH” unless your credit union uses multiple corporations.

This field governs how check/money order numbers are assigned when processed by multiple users on the system. If checked, the system keeps track of check and money order numbers and assigns the next number no matter who cuts the check or where it is printed.

If unchecked, each individual check printer will keep track of the next check number to be used.

Government ID #

These fields show various identification numbers required for tax reporting purposes

Your corporation's Federal ID number. This identifies your credit union to the IRS.

The transmit code assigned to your data processor by the IRS.

An optional tax reporting identification number.

An optional tax paying identification number.

Your corporation's Federal routing and transit code.

IRA Withholding

If you wish to set up Automated Funds Transfer (AFT) or Check Funds Transfer (CFT) records for the purpose of handling IRA Payout Distributions, and members request Federal or State Income tax withholding, use these fields to configure the accounts to which the withholding amounts should be posted in the G/L. The process is similar to backup withholding on dividend payments.

SEE ALSO:Automated Funds Transfer (AFT) MaintenanceandCheck Funds Transfer (AFT) Maintenance

Enter the G/L account to be used for Federal income tax withholding for automated IRA distributions made to members.

Enter the G/L account to be used for State income tax withholding for automated IRA distributions made to members.