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Setting Up Banks for Multi-Cash Accounts

netFORUM Pro allows realtors to set up multiple Banks to handle money distribution and tracking in multi-cash accounts.  Multi-cash accounts may be necessary in netFORUM Pro if funds should be separate in the association’s general ledger.

Setting up Banks is also needed in order to distribute collected funds among an association’s bank accounts, to NAR, and/or the state for dues.

To set up a Bank:

  1. Log into netFORUM Pro.
  2. Hover over the Modules tab located along the top navigation bar and click Accounting to launch the Accounting module.
  3. Click the Setup icon.

This will launch the Accounting Information page.

  1. Click the +Add link located on the Banks and Asset Cash line item of the Accounting Information page.

This will open the Bank and Asset Cash Information form.

  1. Enter the ID for this Bank in the BankID field.  This field is required.

    2. This field is required and the value entered here will be used in the Bank ID drop-down menu used for Charge Code creation and eCommerce fund distribution.

  1. Enter the code for this Bank in the Bank Code field.  This field is required.  A Bank Code may be set up for local dues.
  2. Enter the description for this Bank in the Bank Description field. 
  3. Enter the cash account to be used for payments applied to this Bank in the Cash Account field.

    4. If you do not specify a Cash Account, the default cash account specified during the initial Account Information setup will be used.  To see what the default cash account is, expand the Account Information child form.  The default cash account is listed under the Cash Account heading.

  1. Click the Save button.

    2. The Bank Information form will close and you will be viewing the Account Information page again.

  1. Click the expand icon on the Banks line item of the Account Information page to display the Banks child form.

    2. This will display a list of all the Banks that have been added to this entity.

Once a Bank has been setup, it can be selected during Charge Code setup.

After setting up Banks in multi-cash accounts, you will be able to see the breakout to cash accounts when viewing a Batch GL Details child form.