We opened a new bank account recently that is going to be our main operating account. We added the account to AP; however, when we add new invoices, they default to the old account. Is there a way to set the new bank account as the default?
The default bank account number that is used when entering invoices, manual checks, and EFTs is defined in Customization.
To change the default Bank Account
- In the Quick Launch, search for and select “Customization.”
- In the Default Bank field, enter the new bank account.
- Press Ctrl+S.
A new employee selected the wrong bank account for a new trust account. Is there an easy way to fix this, now that trust transactions have been entered?
The Renumber Trust Account utility can be used to change the bank account associated with a trust account.
To change the bank account associated with a trust account
- In the Quick Launch, search for and select “Renumber Trust Account.”
- In the Old Trust ID field, select the Trust ID that you need to change.
- In the New Trust ID field, select the same Trust ID.
- In the New Bank Number field, enter the bank account number to which you need to move this trust account.
- Click the Renumber button to complete this process.
Note: You cannot renumber a trust account with reconciled or combined transactions to use a different bank account. Additionally, the Trust ID and Bank number you are renumbering the account to cannot already exist.
Whether your firm works with Tabs3 General Ledger journal entries manually or integrates with Tabs3 Billing and Tabs3 Accounts Payable, it’s important to understand how journal entries are stored and tracked in General Ledger.
The Working with Journal Entries video walks you through the basics of entering journal records in General Ledger and provides insight on how to track journal activity using various resources.
Watch this three-minute video here:
Training Videos can be accessed at Tabs3.com/videos. You can also access the videos while in the software by selecting Help | Training Videos.
We are changing where we bank for our trust accounts. I have already added the new bank to the Trust Accounting Software and set up each of the clients with new Trust Accounts for the new bank. How can I transfer their balances over to the new bank?
For each trust account in TAS, you must enter a transaction to remove funds from the old bank, and then enter a transaction to add funds to the new bank.
If you will be writing a check from the old bank to the new bank, you can write a single manual check that encompasses all trust accounts, and then enter the check information into TAS for each trust account showing that the funds were removed from the old bank account. Once this has been completed, you can then enter a deposit for each trust account using the new bank account.
Alternatively, if you are not writing a check from one bank to the other, you can enter EFTs instead. When entering EFTs to remove funds from the old bank, enter a positive EFT amount. When entering EFTs to add funds into the new bank account, enter a deposit.
