Creating a Bank Master in ACTouch ERP is important as this master data helps in
- Tracking of Bank records for the Payments and Receipts.
- Payment and Receipt through Cheques
- Cross check against the Actual Payments that happens in Bank – Bank reconciliations.
Bank Master ID – A unique record to identify a Bank.
GL Code – Connect the transactions back to the GL Account heads.
You can enter the remaining data, but they are NOT mandatory.