This module allows for the cashbook to be electronically populated when a bank statement is imported where large volumes of transactions are processed.

(Note that this module is available in South Africa only)

Bank Manager compiles the cash book electronically by using the bank statements of all the major banks in South Africa as the base. The basics of this system are as follows:

  • After the first bank statement download, you assign recurring account coding to transactions that recur from month to month.
  • You attach a unique statement transaction identifier to a Pastel account.
  • The result, in the following months, is that the system automatically codes recurring transactions exactly as they should be for the cash book batch.
  • In the following months, you only have to code new transactions.
  • You can split lines into multiple accounts. For example, you may wish to allocate rent to different departments. You can save the split lines and reuse them in the next bank statement download.
  • For custom or complex changes, you can instantly export the transactions into Excel, make the changes, and instantly import the data back into Bank Manager.

*Note Bank Manager is a single-user module. Only one user can work in Bank Manager at a time.

Using the Bank Statement Module:

watch the video clip below and learn how to work with the Bank Statement Manager in minutes 🙂

Download the Bank Statement

The first task is to download your bank statement via the Internet. To do this, you login to your bank’s Internet site, and download the bank statement into a file.

*Note that banks offer different formats, and we only accommodate a specific format per bank. See below for where you can see the available formats.

You then need to load the downloaded bank statement into Bank Manager.

To access the Bank Statement module:

  • You access bank manager via the General Ledger…Transactions…Cashbook Batches menu option. Create a new Cashbook Batch and click on the Bank Manager button.
  • You need to choose the banking system of the file you are loading
  • Select the banking system in the list box. The list box shows available banks and formats
  • You then select the bank file that you downloaded from the Internet. The transactions display in the main Bank Manager window
  • These transactions are in the Bank Manager module, not in the Evolution’s cash book. Before we move the transactions into the cash book, we can, or indeed have to, manipulate the data.

*Note, for instance, that there are no account numbers in the transactions.

Be aware of the following while manipulating data:

  • If the transaction date falls outside the current year, the system will set the period to 0 (zero) in the Period column.
  • The system generates references by using the day and month followed by the bank statement number, followed by the transaction number on that specific day.
  • You can sort on any column by clicking on the column header.
  • Bank Manager divides transactions into receipts and payments, in the same manner as the Pastel data entry screen.

Editing Transactions

You can edit each field in each transaction manually if you wish to. However, this will of course take some time.

The power of the Bank Manager add on module is that you can automate many of these editing functions. You can save some of these editing methods, which over time automates much of the work that you would normally have to do.

Deleting Lines

If you need to delete a single line, select it and press <Ctrl>+<Delete>.

To delete multiple lines

  • Right click on the payments or receipts table. A menu displays:

Choose the Enable Shift Select option.

You can now select lines using the standard Windows methods. If the lines are in sequence, click on the first line to delete, and then hold the <Shift> key while clicking on the last line. If there are non-contiguous lines, hold <Ctrl> and click each line.

Once you have selected all the lines to delete, right click on a selected line, and choose the Delete Selected Items option in the menu. The system offers to take you out of Enable Shift mode. You cannot perform other operations correctly unless you leave this mode.

Copying Account Codes, Tax Types, and Descriptions to Multiple Lines

The first editing facility we look at it is the ability to copy fields to other lines. For example, you can enter an account in the account field, and then copy that account to all lines beneath that line.

*Note that the system copies both the account code and the tax type.

You must therefore set both these before you copy. You can also copy descriptions.

To copy a field to other lines

  • Enter the account code and the tax type you require.
  • Right click on the value you wish to copy. A popup menu displays:

Choose the Copy Down option

  • A message displays. If you choose Yes, the system overwrites existing values. If you choose No, the system only copies to lines that have blank accounts.
  • The system copies the fields into the other lines below the current line.

Assigning Recurring Coding

The next feature relies on transactions that recur from month to month on the bank statement, or more accurately, on keywords you can identify in the description field. In a typical business, 95% of transactions recur from month to month. Examples are debit order payments, Internet supplier payments, customer receipts, and so on.

For example, you pay a supplier by Internet transfer on a monthly basis. The description you assigned to appear on your bank statement reads “Internet Payment Thondore Steel”. You select “Thondore Steel” as your transaction identifier and link it to that supplier account. You do not select “Internet payment”, because all other lines that contain “Internet Payment” in their descriptions will then link to the same supplier account.

In order to ensure that you do not choose phrases that are too specific or too common, the system does not allow you to select less than four characters or the entire description.

Therefore, to be as accurate as possible, select phrases that are unique enough to link to a specific account, and not specific enough to never occur again. For example, selecting the phrase “bank charges (3.45)” is not good practice because “(3.45)” will change in the following month, and the system will not allocate the transaction automatically. Instead, select
“bank charges”.

In the same way, recurring electronic / automatic payments you make such as lease, telephone, rental, and so on, will have unique phrases every time.

Using these phrases, you can teach the system which account to use for each phrase. You can also set the tax type and the transaction description to use. Once you teach the system what to do, it will automatically do the same thing when you load the next bank statement.

To assign accounts, tax types, and descriptions to phrases

  • In the line that contains the phrase, select the Account and the Tax type fields.
  • In the Description column, select the phrase you wish to use and right click. A popup menu displays:

Choose the Add to Recurring Coding option

If the description also appears in the other (payments or receipts tab), you have the option to continue or not.

The system defaults the phrase to be the transaction description, but you can change it:

When you click OK, the system replaces the account, tax type, and description in each line that contains the phrase:

*Note each line above that now has an account of 3850000, and a description “INSURANCE PREMIUM”.

Click on the Account Coding tab:

The system remembers this setting for subsequent imports. You can edit all the fields except the initial phrase. You can of course add many phrases into the system.

Splitting Lines into Multiple Accounts

Sometimes you would like to allocate a single transaction to more than one account. For example, you may want to split a rent payment between different departments.

Not only can you do this, but you can also save the split information. Using rent as an example, you would want to split each month’s rent in the same manner.

To split payments

  • Right click on the line you wish to split, and choose Split Transaction from the popup menu.
  • The Split window displays:
    • You can enter multiple lines, each with their own details. The line must total the original transaction amount.
    • Once the split lines have the same value as the original line, click the OK button. The system then returns you to the transactions, deletes the original line, and adds the split lines at the end of the table.

Posting Transactions to Last Year

Pastel Evolution Bank manager now allows you to post items on your statement to last year. On the occasion that you have a statement that contains items from last year and this year, you can now post them to the relevant Cash Books.

To post items from a statement to last year you need to, from the Cash Book, click on the Settings button, uncheck the check box This Year Transactions.

Once the check box is unchecked you will notice that at the bottom of the Cash Book, red text shows that you are in Last Years Cash Book. Transaction with this year’s date will not be posted to the Last Year Cash Book and only files with last year’s date will apply. These transactions will be posted to Last Year once a batch is created in Bank Manager.

The Reconciliation Tab

If you process your bank transactions exclusively via the Bank Manager module, there is no need to do a bank reconciliation. This is because each transaction in Pastel’s bank account comes from the bank itself. However, there is still the possibility that you did not download all the transactions, you did not bring all the downloaded transactions into Pastel, or you duplicated transactions. You can check this in the Reconciliation tab:

If the bank statement balance is the same as the calculated balance, you have accounted for all the transactions.

Moving Transactions from Bank Manager into Pastel

Once you have completed the preparations of the transactions, you then have to move them into the cash book batch.

To move transactions into the cash book

  • You cannot perform this operation unless all transactions have accounts, and period and dates are within the current financial year.
  • Select the Statement Payments or Statement Receipts tab.
  • Click on the Create Batch Button.
  • The system transfers the payments or receipts and confirms the transfer.
  • You have to create the payments and receipts batches separately. Once you transfer both, Bank Manager closes automatically. If you are only transferring one of these, click the Close button to close Bank Manager.