Account codes are a useful tool to track and reconcile your cash flow through your external bank accounts within Julep. Whether you have one or multiple bank accounts, this feature can be incredibly helpful in Treasury and Financial Summary.
Setting up Account Codes
In order to reference your bank accounts, you must first create the account codes. Click on Treasury from the Main Menu on the left-hand side and then click the button in the top right Dashboard Navigation Bar to open Treasury Settings.
- Select the Account Code tab.
- A list of existing Account Codes area will appear that you can view and manage. Click the Add button to setup a new account code.
- Fill out the Account Code, Description, and Bank Account fields. Select whether the bank account is the default account by checking the Default checkbox and check the Active checkbox if the account is still in active use.
- If you plan to reconcile with the accounts through Crimson, enter the Begin Bal and Begin Date for the account so that the accurate balances will appear on the Financial Summary dashboard.
- Click Save when done.
Attaching Account Codes to Transactions
When using Data Entry, you can add a default Account Code from the drop-down menu when setting up your batch header. For more info on data entry, see our Julep - Data Entry Guide on the HelpDesk.
When importing an Excel, make sure to include an Account Code column in the file. During the mapping step of importing, map the column you created to Julep’s Account Code field. PLEASE NOTE: You need to create your account code in Treasury Settings before you can use it in a Julep import.
When adding Receipts, Invoices or Disbursements from Julep’s Treasury dashboard, select your Account code from the drop-down when entering a transaction.
Using Account Codes in the Financial Summary Dashboard
To fully utilize Account Codes, go to the Financial Summary Dashboard to see an overview of all accounts.
The Cash Balances section shows the current Cash-on-Hand for your active bank accounts. Be sure to record all bank deposits under the Treasury area of Julep to have accurate COH totals.
You can also select between the active account codes and view the transactions (Disbursements and Other Receipts ONLY) associated with them. Use the Vendor, Transaction Type, and Date Range search fields in the Account Register section to find specific transactions. You can then Export the results, Reconcile your account, or Transfer Funds between active account codes in Julep.
To record internal bank account transfers, navigate to the Financial Summary Dashboard. Click on the Transfer Funds dashboard action button. This feature allows you to move money from one account code and fund code to a different one in Julep. By doing this, a disbursement/other receipt will automatically be created in Julep.
To help reconcile a bank account, use the Julep Reconciliation tool. To get started, select the bank account for reconciliation under the Cash Balances list. Then click the button and a list of uncleared transactions will display. Click the Filters tab to use the Transaction Type, Vendor, Transaction Date, and Check # filters to narrow down your results.
- Use the checkboxes to clear multiple transactions at once with the date in the Clear Date field.
- Once you have selected several transactions, click the button to clear just those transactions or the button to unclear them.
- Click the button to update and mark that one transaction as cleared with the Clear Date.
- Click the button to unclear all transactions so that you can go back and make updates or fix errors.
- Click the button to mark all uncleared transactions as cleared with the Clear Date once you have confirmed the details to your bank account.
- Click the button to export the transactions so that you can spot check for errors.