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Name Bank Account Details
Shortcut BANK
Area System

See the NOVUS Walkthrough Guide for further information.

A currency is considered by the system to be a destination currency once a bank account has been created in that currency. The currency for a bank account must first be created first in the currency table in the CUR program. Until a bank account is created in that currency it is deemed to be convertible.

When the first bank account in the currency has been created the system treats it as a banking currency and automatically creates period summary tables for the current period. It also takes account of any periods in the future in which transactions have already been entered in anticipation of transactions being entered in the new currency.

There is no contention with (soft currency) records already in the system. These would have been entered as a currency pair (source/destination). If the source currency becomes a banking currency, then existing records must be converted.

A special version of the CONV program will convert soft currency transactions (different currency pairs) in the IBA (Individual Brokerage Account) using the source currency as a banking currency.

A Nominal Ledger (NL) code and bank opening balance is required in order to set up a bank account.

Once the account has been set up there is no easy way to adjust the balance - this is automatically maintained through the cashbooks.

The reconciled column (see below) is used by the bank reconciliation program (BANKREC).

For each of the IBA bank accounts a corresponding office account must be denoted in the office column. These could all be the same office account.

Bank accounts can be assigned to specific divisions. When the BANK program runs a column is displayed offering the options of all the divisions in the dataset. The selection of divisions populates a new table with the divisions for each BANK entry (defaulted to ALL for each bank if no selection is made). When changes are made to bank accounts, it is recommended to set all bank accounts as division ALL before amending any IBA accounts divisions, before editing the office account divisions.

Validation is undertaken on a variety of issues, and on save any appropriate error messages will be displayed to the user, including but not limited to changing divisions where unmatched cash transactions exist, editing a bank account to add or remove a division checks office account relationships, divisions no longer matching, more than one bank as default on same currency, divisions not encapsulated by parent or office accounts, parent and child relationships (e.g. the parent and office account need to contain at least all of the divisions of the child bank account).

To create a new bank entry

  • NOVUS shortcut BANK
  • At the bottom of the screen select details such as parent bank, NL account, sort code etc. If the required information has not been entered NOVUS will prompt the user by means of a red 'X' above the line items reminding how many required fields need to be entered.
  • Click the Save button to save the new bank entry record.
  • At the bottom of the window each record has two extra tabs: Information and Address which have up to eight fields for additional information and address details for the entry.N.B. Data entered into the 'Documentation Text' area can then be inserted in its entirety into the bottom of a debit note by means of a merge field if requested. If the data is not completed in this text area, the bank details will not appear on a debit note.

If you have the old-style Forms interface, just navigate to the first empty row using the down arrow.

BANK Edit Details.PNG

  • Select the NL (Nominal Ledger) account from the drop-down list which applies to this bank account. (The NL account must first be created in the nominal ledger account codes (NLACC) program
  • Select the currency. This makes the specified currency a banking or destination currency.
  • When completed click the Save button

To retrieve information about a particular bank

  • NOVUS shortcut BANK
  • Select the bank code for the relevant bank
  • Review and amend information by selecting the appropriate dropdown list or editing fields in the information or address tabs.
  • Click the Save button to save the new entries

To reset bank inforation

  • NOVUS shortcut BANK
  • Click the Reset button to reset all fields to defaut entries.

Version History

v 6.2.0 – Updated to latest version
v 5.3.0 – Updated to latest version
v4.2.0 – Updated to latest version
V41K - No significant change
V34M - Bug fix when creating a new currency which already exists in tran_template
v33M - First version of this form to use the new style. No other updates except the restyle.