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Setting up Distributions to Other Bank Accounts.

If you want to distribute money to more than one bank account you will need to set up the system to direct the funds appropriately. *Note that while you can distribute funds to other bank accounts, the system currently cannot process refunds from other accounts. Refunds always come from the default bank account.

Set up your Bank Account

1. Navigate from Sales & Accounting to Bank Accounts to create or edit bank accounts.

In NRDS, an association can have up to 6 bank accounts attached to their NRDS eCommerce account. Most associations only have one default bank account. Other cases, associations may need more than one bank account, a PAC account for instance.

Bank Accounts in RAMCO exist solely for setting up distributions (or split payments) in eCommerce. For instance, for dues payments, an association splits the payment between NAR and the State and Local associations. A bank account would need to be set up for each.

2. Fill out the Bank Account Form and Save.

  • Name - Name of Bank Account
  • Distribution Association Bank ID - Number of Account in NRDS eCommerce. Usually 1, but check with the account holder to confirm.
  • Distribution Association ID - 3 or 4 digit Association ID for the association where the money is getting deposited.
  • Description - Description of the Bank Account.

NAR is 1 for the Bank ID and 1 for the Distribution Association ID.

 

Set up your GL Account

1. Navigate from Sales & Accounting to GL Accounts to create or edit the GL Account record

2. Fill in the GL Account Form and Save.

  • Name: The name for you GL Account, can be a text and/or numeric code.
  • Account Type: Typically distributed funds go to Revenue/WIP or Receivables, but set this as your account practice dictates.
  • Bank Account: Select the Bank Account that funds directed to this GL Account will be distributed to. (If the field is blank the money will go to the default bank account).  

*Other fields are not required for distributions/GL Account set up, but can be completed if you like.

 

Link a Product to the GL Account with the Product GL Account

Any product you link to this GL account will be set up to distribute funds to the bank account on the GL account. If the bank information changes it will change for all products associated with the GL account.

1. From your Product navigate to Product GL Account

2. Fill out Product GL Account Form and Save.

  • Product: This will populate automatically when you navigate from the product record.
  • GL Account: A look up to the GL Account (select the correct one with the correct bank account settings)
  • Type: This field will populate automatically when you select the GL Account.
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