Bank Management
The Bank Management area is used to manage your Payees, record your Bank Register transactions, record Deposits and Withdrawals, and Reconcile your bank accounts. This menu option only shows on the left side when the Administrator has selected Bank Management under Settings> Agency Settings in the Features section of the screen.
Other profiles
Profiles that are not associated with client, supplier or advisor profiles. Other profiles are used when making or receiving payments associated with agency expenses, billing, rent, utilities, etc. Use this section of the program to manage your Payees. Search existing Payees using the filters: Other Profile Name, Status, and/or Tags.
Use the Add Other Profile button on the top right side of the screen to enter your Other Profiles. Be sure to enter the default GL account for other profiles as payments generate the journal entries defaulting to the GL account you set up and save having to manually add the account later. Note: If needed journal entries can be modified from the defaults when entering payments.
Bank Register
A bank register is a list of records that helps you keep track of your checking account transactions and balance. It is used to record your deposits, withdrawals, and other transactions. As you spend money or add funds to your account, you update the list. The primary purpose of using a bank register is to track your account balance, including transactions that might not have posted yet, monitor spending, and catch bank errors.
Payments from or to the agency with a pay method or EFT are automatically added to your check register. Payments that are Paid to the agency by pay methods of Cash or Check hit the check register when the money is collected, and a deposit is made to the bank. Payments that are Made from the Agency in the form of cash would require a Withdrawal from the bank account.
Deposit /Withdrawals
Deposits and Withdrawals are search and generated under the Bank Management Menu option and selecting Deposits / Withdrawals. The initial screen in this section allows users to search for existing Deposits or Withdrawals by Date. Opening any of search results shows the individual payment activity the deposit or withdrawal is made from.
Bank Reconciliation
A bank reconciliation is a process of comparing the cash balance on your balance sheet to the corresponding amount on its bank statement to ensure your records align with the bank’s records. This is accomplished by reviewing the two sets of records and looking for discrepancies. Often those discrepancies are related to when the transaction is recorded in Tres versus “cleared”, or recorded, at the bank.
Tres’ Bank reconciliation is found in the Bank Management Menu Option by selecting the Bank Reconciliation section. IN order to start your reconciliation, you want to enter the same date range used on the bank statement and select the proper bank account that matches the statement. Items that match the bank statement should be marked as Cleared. Mark all the items in Tres as Cleared that you see on the on your bank statement. Notice when you save the changes to the cleared items they are dated and the totals at the bottom are recalculated to reflect the changes saved. The goal of the reconciliation is that the Cleared Ending Balance on this screen matches the Ending bank balance on the bank statement. If they do not match it is time to go through the list in Tres and the bank statement item by item to find the discrepancies. NOTE: Items that cleared dates are viewable in payment details when the payments have been cleared on the Bank Reconciliation.