Bank & Cash Accounts

A treasury account is a place where your organization keeps money. It can be a bank current account, a cash account such as the petty cash, a CCP account or an electronic wallet. CCP is the postal current account that Algérie Poste keeps. Every receipt, payment and transfer moves money into or out of one of these accounts. Each account keeps its own balance, and today’s cash position adds up the balances of your open accounts.

Only the Treasurer and the owner of your organization can add, change, freeze or close an account. The Cashier can only read the accounts.

Creating an Account

1. Open Treasury → Accounts in the sidebar.
2. Click New.
3. Fill in the details:
   • Code is the short code that you find the account by in its list. The form opens on the next one, such as ACC-000004 after ACC-000003.
   • You can keep that code or type your own, such as BNA-DZD-01. If you clear it, Beelocity gives the next one when you save.
   • Name is the full name, such as BNA — Main current account or Petty cash.
   • Account type is Bank, Cash, CCP, E-wallet or Other (see the table below). The form opens on Bank. The type decides which money the account takes and which sections the form shows.
   • Currency is the currency that the account holds, such as DZD. You cannot change it later, so open another account for another currency.
   • SCF account code is the account’s code in your chart of accounts. SCF is the Algerian accounting standard.
   • The type suggests that code: 512 for Bank, 53 for Cash and 514 for CCP. You can change it. It is only a label, and no figure in Beelocity depends on it.
   • Opening balance is what the account already held on the opening balance date, such as 4,250,000.00 DA. Leave 0 for a new account.
   • If the opening balance is not zero, Beelocity records it as the account’s first entry in the cash ledger.
   • Opening balance date is the day that the opening balance applies to. If you leave it empty, Beelocity uses today.
4. For a bank or a CCP account, fill in the Bank details. The form shows this section only for these two types.
   • Its fields are Bank name, Branch, RIB, IBAN and SWIFT / BIC.
   • The RIB is the twenty-digit number that identifies an Algerian bank account. A CCP account keeps its twenty digits there too.
   • The field groups the digits as you type, 001 00704 0200019724 08. The last two digits are a key.
   • If the key does not match the other digits, Beelocity refuses the RIB before it saves. One digit is probably wrong.
   • The IBAN is optional, and it groups itself in fours, in capitals. If its check digits do not match the rest, Beelocity refuses it too.
5. If the bank lets the account go below zero, switch on Allow negative balance in the Overdraft section.
   • Then fill in the Overdraft limit, such as 2,000,000.00 DA. If you leave the limit empty, the account has no limit.
   • If the switch is off, Beelocity refuses any movement that would take the balance below zero.
   • A cash account never goes below zero, so the form shows no Overdraft section for it.
6. If you want, switch on Default for currency (see below), and add Notes.
7. Click Save.

Note: If an account in a foreign currency has an opening balance, Beelocity needs an exchange rate on file for the opening balance date. If Beelocity says that a rate is missing, enter the rate in Treasury → Setup, on the Exchange rates tab. Then create the account. An opening balance below zero also needs Allow negative balance.

Account Types

The type decides what money the account takes:

• A cash account takes cash, and payment methods of the type Other.
• A cheque, a bill of exchange or a promissory note needs a bank or a CCP account. So does a deposit slip.
• A bank transfer, a card, a direct debit, a CCP payment or a bank statement can go to any type except Cash.
• An internal transfer can move money between any two accounts, cash accounts included.

Account Lifecycle

Each account has a status, which decides whether it takes new movements:

The Treasurer or the owner of your organization changes the status with Freeze, Unfreeze and Close account. These are in More actions (the three dots) on the account’s page. The Cashier does not see them.

Freezing an account

Freeze an account while it is in dispute, or while you wait for a change at the bank. Open the account and choose Freeze in More actions. The account moves to Frozen at once, and Beelocity asks nothing first.

While the account is frozen:

• Beelocity posts no new movement to it. It refuses a receipt, a payment, a transfer, a cleared cheque, a credited slip and an adjustment alike.
• The account keeps its balance and its whole history.
• Today’s cash position leaves it out, unless you tick Include frozen accounts on Cash Position & Forecast. Cash position over time leaves it out on every day.
• If it was the default account for its currency, it loses that mark. You can make another account the default at once.

To use the account again, choose Unfreeze. It moves back to Open, and it does not become the default again by itself.

Closing an account

Closing is for good. Before you close an account, bring its balance to exactly zero, for example with an internal transfer to another account. If a transfer emptied the account, complete that transfer first. After the sending account is closed, nobody can cancel the transfer, because the cancel puts the money back on that account.

Then open the account and choose Close account in More actions. Beelocity asks you first, and you press Close account again to close it. A closed account never opens again, and it takes no new movement. Its history stays, so you can still read it.

A frozen account does not offer Close account. Unfreeze it first, and then close it.

Setting a Default Account

Mark one account as the default for each currency. Beelocity then uses it in two places:

• A new receipt or payment in that currency opens on it, if its payment method names no account and can use this one.
• Record payment on a sales invoice puts the money into it. If the invoice’s currency has no default account, Record payment refuses.

Each currency has one default at most. The first open account in a currency becomes its default by itself, so the switch opens on while the currency has no default account. If you switch on Default for currency for another account, the mark moves there. Only an open account can be the default. Freezing or closing the default account takes the mark away, and the form of a frozen account does not offer it.

You can narrow the accounts list with its filter button, by Type, Currency, Status, Default, Active or a band of Book balance (Working with lists).

Editing an Account

Open the account and click Edit. You can change its name, its bank details, its overdraft, its default mark, its notes and its Active switch. Three fields are fixed once the account exists: Currency, Opening balance and Opening balance date.

Active does less than its name suggests. If you switch it off, today’s cash position and the forecast leave the account out. Cash position over time still counts it. The account still takes new movements, the pickers still offer it, and it stays the default if it holds that mark. To stop its movements, freeze it or close it.

Deleting vs. Closing

You can delete an account only while the cash ledger holds no entry for it. An opening balance that is not zero is already an entry. After the first entry, Beelocity refuses the delete, so close the account instead, and its history stays. To delete an account, choose Delete in More actions.

Tips

• Type a code you will recognize, if you like. Beelocity offers the next ACC- code. A short code of your own, such as BNA-DZD-01, makes an account quicker to find in its list.
• Set a default for each currency. If you work in DZD and EUR, set one default for each. New receipts and payments then open on the right account, and Record payment has an account to use.
• Enter the opening balance with care. Every later balance starts from it, so take it from a bank statement of a known date.
• Freeze if you are not sure about closing. You can unfreeze an account, and you can never reopen a closed one. To close a frozen account later, unfreeze it first.
• Open a new account if a bank relationship starts again. A closed account stays closed, and it keeps its history for your audit.