Albert Bupp said:

 

William,
 

This is helpful, however, I have some questions.

Under the Bank | General Ledger heading, you have:

   "2. Gets data only automatically from check-writing software etc. (no human data entry)"

Does this relationship to the GL only exist for external check processing, or would it also apply to all debits to an account, such as POS, ATM, etc? 

Yes, it also applies to all debits/credits to an account. When a customer comes to a bank and debits/credits his/hers account, the bank must keep track of it by offsetting those unilateral transactions to a GL. If the customers make a withdrawal, the appropriate GL will be credit that same amount, since now, the bank no longer owes those monies to the customer. If the customer makes a deposit, now it will be debited to the appropriate GL. Banks' cash assets are impacted by every debit/credit to an account. Therefore, banks must keep track of these transactions, which will be used for several purposes (settlement, financial reporting, audit reporting, customers' statements, budgets, etc.)

Maybe more to the point, what is the relationship btw the deposit accounts and the bank's GL?  Does each action specified under the Bank | Deposit Accounts heading only pertain to those accounts, or might they also entail GL involvement?

GLs are like God, omnipresent.

Another refinement to this might be indicating for each action what entity or entities (e.g. member, bank staff, auditor, etc) would iniate the process.  So, for example, creating accounts might only done by bank staff (YES), while both staff and members could update an existing account (not sure what you mean by updating an account, so it depends on what you mean by it).

-Albert

Hi Albert, not sure if you've already got your answers, but please check out my summarized answers above. Hope is helps a little. Enjoy the weekend! Neige