The asyst:Multiple AP Checking Accounts Subsystem™ provides multiple checking account handling for USTI's asyst:Accounts Payable™ application. asyst:MC integrates seamlessly with asyst:AP™ and asyst:GL™ to provide the ability to print checks from multiple bank accounts. Whereas asyst:AP, in its standard form, is designed to manage individual fund cash account balances while using a single Consolidated Checking account, the asyst:MC subsystem permits the use of multiple checking accounts, either one checking account per fund, or one checking account for multiple funds.
Here's how it works:
- Since you may now have more than one checking account on which checks are to be drawn, a new Checking Account table is added to the asyst® database instead of using the Configuration Table in asyst:Accounts Payable (which is designed to handle the single Consolidated Checking account).
- In each fund record, you will select (using a combo box) the checking account from which this fund's checks will be written.
- When invoices are entered, one additional field is required. You will select (using a combo box) the checking account (from the new asyst Checking Account table) from which the invoice is to be paid.
- All activities and reports (including Check writing, Cash Requirements Reports, AP Check Register, Void Checks, Bank Reconciliation, etc.) which can be run for each checking account, a checking account selection combo box is added to allow selection.
It is that simple. And, it is entirely integrated with asyst:Accounts Payable so that it looks and works just like the standard asyst:Accounts Payable, except for the exclusion of the Consolidated Checking feature.
So, if you are not quite ready to make the step to the more efficient and less costly Consolidated Checking, or if you have specific legal requirements that necessitate the use of multiple checking accounts, asyst:MC is for you. And, when you are ready to move to Consolidated Checking, turning asyst:MC off is as simple as a single click of the mouse button.