Chart of Accounts Maintenance - Branch/Location

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Screen Title: 

Panel Number:

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UGLMAL01

Chart of Accounts Maintenance

3550

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This screen appears when you enter a corporate ID and branch number, but no G/L account number on the first Chart of Accounts Maintenance screen.

This screen is used to define names for branch locations within your credit union. By defining separate locations, revenues and expenses can be grouped under the same general ledger account number without having to assign a different main account number or suffix for each branch.

When branches are configured, the system allows separate branch numbers for the same G/L account. For example, if you configure branches 01 and 02, entries made to a G/L account can be separated based on the location number. Financials and other types reports can be set up to list all activity for the G/L account separated by location number.

SEE ALSO: G/L Account Numbers

When done, use Enter to save changes and return to the first Chart of Accounts Maintenance screen.

Field Descriptions

Field Name

Description

Description

A description of the branch location.

Used by member account

For credit unions using branch level member accounting, this field is used to indicate how branch numbers will be attached to each new member account.

If checked, this branch number will be assigned to any memberships opened at this branch.

If you wish to use a different branch number for memberships opened at this branch (for example, if this branch number represents just a drive-through kiosk located near an existing general branch, or if you do not wish to separate members by branch), uncheck and enter the branch number can be used in the Member branch field.

Member branch

Whether or not your credit union uses branch level member accounting, all members must be assigned to a branch number. If the Used by member account field is unchecked, this field gives the system a default location (usually 01) to use for all new member accounts.

Allow teller vault

This field indicates whether or not a vault number will be assigned to this location (the system uses the branch number as the vault number also). If this location does not have a vault, choose No here and be sure to complete the If unchecked, Default branch vault field described below.

Default branch vault

This field works in conjunction with the Allow teller vault field described above. If that field is set to No, this field indicates the default vault location.

  • For example, if branch 2 uses the same vault located at branch 1, enter “01” here.

Outside Check Deposit
 Branch #
 G/L Acct

These fields control the automatic G/L entries regarding deposits of outside checks made by members.

When the system totals outside checks for each branch location during EOD, it creates a journal entry that credits G/L account 739-00 and debits the G/L account and branch # configured here. Enter the G/L account number which represents the bank where outside checks are deposited.

If you wish to combine checks deposited at multiple branches into one combined G/L account representing the bank, be sure to enter the branch number to be used for the debit side of the transaction.

  • For example, if this is branch 02, and you wish all outside checks to be deposited to branch number 01 in the G/L to make reconciling the bank statement easier, you would enter branch # 01 here (as well as on any other branches where checks are deposited to this same bank account).

Cash Purchase/Sell Bank
 Branch #
 G/L Acct

These fields control the automatic G/L entries regarding the sale and purchase of cash between the vault and the bank.

When the head teller buys or sells cash to the bank, the system creates a journal entry that debits G/L account 739-00 and credits the bank account for purchases, or credits G/L 739-00 and debits the bank account for sales of cash from the vault. Enter the G/L account number which represents the bank account used to transfer cash between the bank and the vault.

If you wish to combine cash sales and purchases from multiple branches into one combined G/L account representing the bank, be sure to enter the branch number to be used for the bank side of the transaction.

  • For example, if this is branch 02, and you wish all cash transfers to be recorded as branch number 01 in the G/L to make reconciling the bank statement easier, you would enter branch # 01 here (as well as on any other branches where vault activity uses the same bank account.)

CU Check Credits Post to Bank Branch

This field controls the automatic G/L entries regarding the release of funds for credit union-issued member checks.

During EOD, the system adds all the member checks cut from a branch and creates a journal entry that debits G/L account 739-00 and credits the G/L account and branch # configured here for the total check amount.

If you wish to combine member checks drawn at multiple branches into one combined G/L account representing the bank, be sure to enter the branch number to be used for the credit side of the transaction.

  • For example, if this is branch 02, and you wish all CU member checks to be recorded as branch number 01 in the G/L to make reconciling the bank statement easier, you would enter branch #01 here (as well as on any other branches where checks are drawn on this same bank account).

Address line 1

Address line 2

City/State/ZIP Code

County

Phone #

Enter in the address and phone number for the selected branch. It is important to enter this information for National Shared branching. This way, for example, the correct location where the transaction occurred can be recorded. We also plan to use this information for additional reporting and analysis features in CU*BASE.

Buttons

Buttons

Description

Suspend (F4)

Use this to suspend a branch so that journal activity cannot occur. G/L account balances will remain intact. The word “Suspended” will appear to the right of the branch number, and no further processing can take place until you return to this screen and use Enter.

New Company (F6)

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

Exit (F7) (up arrow)

Use this to cancel all changes and return to the Home Page.

Delete (F16)

Use this to delete a location.

  • BE CAREFUL: There will not be a confirmation message, and the deletion cannot be undone. Any corporation or G/L account screens which use this branch number may need to be manually changed to a different location.

 

 

 

Link to ID: https://help.cubase.org/cubase/cubase.htm#UGLMAL01.htm