Chart of Accounts Maintenance - Company (2)

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Screen Title: 

Panel Number:

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UGLMAC-02

Chart of Accounts Maintenance

2075

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This is the second screen used for maintaining corporation information. When done, be sure to use Enter to save changes.

Field Descriptions

Field Name

Description

Government Identification Number

These fields show various identification numbers required for tax reporting purposes.

Federal ID #

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

Federal transmit code

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

 State ID #

An optional tax reporting identification number.

Payer name control

An optional tax paying identification number.

CU routing & transit #

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) Maintenance and Check Funds Transfer (AFT) Maintenance

Federal WH G/L acct

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

State WH G/L acct

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

New Member/Miscellaneous Account Processing

These fields govern how the system handles new memberships.

Generate account #

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 Y, last account used

Increment by

If the Have system 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.

Allow member base account over six digits

Check to allow account base numbers up to 9 digits.

Regular share dividend application

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.

Loan category used for write off

This field shows the loan category to be used when writing off loans. The default setting is 99 unless your credit union uses multiple corporations.

Use centralized checking/money orders

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.

Multi-Corporate Processing

Use these fields if your credit union processes for more than one corporation.

Use multiple corporate processing

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

Use Corp # for first 3 digits of member base account #

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.

Corporate settlement G/L account #

(Appears only if Use multiple corporate processing is set to Yes.) This field shows the G/L account used for account settlements between the corporations. (Not the same as the Shared Branching settlement account.)

Buttons

Button

Description

New Company (F6)

Use this to cancel all changes and return to the first chart of accounts maintenance screen to select a different company, location or G/L account.

 

 

Link to ID: https://help.cubase.org/cubase/cubase.htm#2705g.htm