Various banking control systems are available on the system. They are described in the paragraphs below.
They share similar user interfaces and bank reconciliation methods, but operate to suite the relevant need for which they were designed.
Main Central Banking System
This system is designed to accommodate the sharing of one (or two, one for tenant deposits) bank account, usually a trust account, in the name of the Agent . This account is then operated on behalf of the properties managed by the Agent , and can be used by the Agent as well. The central control accounts are maintained on the Management Level, and the detail mirrored on the Agent and Property levels. There can be only one central account per installation of the system.
The system produces a cash book for each Agent and Property, each month. The sum of all these cash books, will be the central cash book for the main bank account
There is a facility to charge individual properties a share of the bank charges incurred on the central account, based on their payment usage.
Agent Central Banking System
This structure is similar to the central system described above. It is also a shared banking facility, but it operates on Agent instead of management level. This means that more than one shared account can be run within the one installation.
There is no bank charge facility on this structure at this stage.
Local Banking System - Management, Agent , Property
This facility provides for five reconcilable bank accounts to be run on each Property, Agent or on the management level. A Property or Agent is setup as primarily part of the 'C'entral, or 'L'ocal banking system. Depending on this setting, all cash book transactions will default to the relevant cash book. A mix of the two systems is also possible.
Some examples of local banking usage:
A Property, which is part of the central banking system, but also has a separate maintenance bank account that needs to be properly controlled.
An Agent or division, which conducts its non Property related business in a separate local bank account.
Shared Local Banking System - Agent and Property
This facility allows a group of properties, or a group of Agents to share one or more local bank accounts. A controlling Property is selected, which becomes the banking Property, where the bank reconciliation takes place.