With Abel, it doesn’t matter which database a bank account belongs to. You can use it in any database and Abel creates the necessary inter-database transactions and postings.
You can also create bank journals between different databases’ bank accounts and Abel manages all the transactions in all the databases that are affected by the bank journal.
Abel’s inter-database banking helps you to administer multiple bank accounts in different locations.
- Remote Banking processes transactions to bank accounts in other databases.
- Inter-Database Bank Journal processes bank journals across multiple bank accounts that are in different databases.
Abel’s remote banking enables authorized users to create a document that transacts on another database’s bank account. For example create a Customer Receipt or a Supplier Payment referencing an external bank account that belongs to another database. When the document is posted, Abel creates the necessary transaction and postings in the remote database. If the document is re-opened, Abel removes the transaction and postings from the remote database.
- Works for all Customer Receipts, Bankings and Direct Debits.
- Works for all Supplier Payments and Direct Credits.
- Can be used between any two databases.
- If the Local document is re-opened, Abel finds and removes the transaction and postings from the remote databases.
Inter-Database Bank Journal
Abel’s inter-database bank journal is an inter-database document. Staff in a Corporate database create a bank journal for distribution to multiple databases. Abel replicates the Bank Journal to other databases that are affected by the journal. Each database posts the journal lines that are for its nominated bank accounts.
Example: The inter-database bank journal can be used to “sweep” surplus cash from each branch bank account leaving a float in each branch. Bank sweep suits those businesses that pay most expenses centrally and so regularly move money from branch bank accounts to a Corporate Office bank account.