The Banking process
Posted by Cameron Telfer, Last modified by Michael Dutton on 20 November 2018 11:51 AM

The banking process is what you use to tell Storman that you have physically banked monies - in other words, it tells Storman that you have got all of the cash and / or cheque's that you received from Customers, and taken them to the bank to put into the bank account.

Why use the Banking process?

Storman's banking process allows you to manage the income you receive in Storman. While you can use Storman and completely ignore the banking process, we do not recommend this, because, when you grow, you will eventually need to use it anyway - so it's best to get used to it while you are a smaller business, and you have the time to understand how it works, so that you can make things easier for managers and accountants when it comes to tax time.

How often should I run Banking, and when should I run Banking?

You can run it as often as you like, whenever you like. Smaller offices may only go to the bank once a week, and as such, they would run the Banking process just before they visit the bank for the week. Busier offices will most probably go to the bank near the end of each day, and as such, would run the banking feature on a daily basis near the end of the day.

A Customer wants to pay - but I have already run Banking for the day. What do I do?

If you have already run the banking process for the day (and set all receipts to banked) you can still take money after that time on the same day. There are a few options for this, which change depending on whether you've been to the bank branch yet. These are outlined below...

I have set items to banked in Storman, but I have not made it to the bank yet...

= Receipt the payment as per usual on the Customer's account, etc. Re-run the banking process (only the new transaction should show up), and set the item to banked. It will be merged with the items on the previous banking report. Proceed to the bank as usual with all of your cheque's and cash (and the additional payment!).

I have set items to banked in Storman, and I have been to the bank - I do not want to go to the bank again today...

= Receipt the payment as per usual on the Customer's account, etc. Then, next time you do go to the bank (tomorrow or next week ...whenever you do it), run the banking process as per normal, and this transaction will appear on the report amongst any other new ones that haven't been set to banked yet.

I have set items to banked in Storman, and I have been to the bank - I will go to the bank again today...

= Receipt the payment as per usual on the Customer's account, etc. Re-run the banking process (only the new transaction should show up), and set the item to banked. It will be merged with the items on the previous banking report. Proceed to the bank again with the additional payment.

What's the different between the Banking process and the Banking report?

The banking report prints out during the banking process. The phrase 'banking process' refers to the process as a whole. The banking report is a small part of that process.

How do I use the Banking process?

  1. Run the Banking Process by either clicking the Banking icon on the Storman Dashboard, by selecting Accounting, then Banking Report, or by using the keyboard shortcut (CTRL + B on PC, or COMMAND + B on Mac) .
  2. The banking dialog will appear (as shown below). Configure the options as outlined below and click Generate to generate a banking report. Banking report dialog

Banking report dialog

Last banking report was run on shows when the last banking process was run. The banking process you are about to run will show any un banked transactions from this date onwards.

This banking report will be dated allows you to set the date of when you would like Storman to run the report as of.

Show any payments since the last report is the default action that you will most likely be using. This will tell Storman to show any payments that were taken since the last report was run & set to banked. When ticked, the subset of this option, Include trxs with a date banked of today will ensure the report includes any transactions you took today. Generally, you would only leave this option unchecked if you did not get a chance to run the banking process for the previous day.

Show the last report, plus any new payments will show transactions from the previous report, as well as any new transactions.

Show a previous report lets you select a previous banking report from the list, to view or reprint it.

Sort this report by lets you select whether you wish to sort the report by Customer code (ascending), or the time the transactions were entered. The latter is the default (& most common) option.

Other Options include whether you wish to print a charges analysis report after the banking report (this shows a breakdown of any monies taken on a per-analysis-code basis), whether you wish to hide Customer details on the report, and whether you wish to use a smaller font in order to see more receipt analysis code columns.

Note: Depending on the setup of your Receipt Analysis Codes (and, in particular, their 'Sort Order' number), some receipt types may not appear on the banking report unless you enable to 'Use a smaller font' option. Also, be aware that some Receipt types will appear grouped if they share the same Sort Order.

Cancel stops / closes the banking process.

Generate begins the banking process using the options you have selected on the screen.

  1. After viewing the report, select Yes when asked if you would like to set the receipts to banked. The receipts will now be set as banked for you.
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