CheckMy 2000
Financial Management Software
On - Line User Guide
CheckMy Banking 2000
High Performance PC Software
March
2000
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Purchase CheckMy Banking | Purchase All CheckMy Software |
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Index Of Contents |
Click the line to move to the subject item.
Introduction to CheckMy Software
Introduction to the CheckMy 2000 Family
Interface conventions for CheckMy 2000 family
Introduction to CheckMy Banking 2000
Installing the CheckMy 2000 CD
Installing download CheckMy 2000 software
Password protecting your account information
Setting up accounts in CheckMy Banking
Using the accounts information screen
Setting Statement Dates, Credit Limits and Bank Holiday Dates
- Entering Transactions
Editing and deleting Transactions
- Cleared balances
- Deposit clearing
- Viewing deposits in clearing hold on any date
- Viewing deposit clearing schedules
- Setting bank holiday dates
- Cleared balances, floating and net balances
- Interest calculations
- The decimal places button
- Deposits clearing interest costs
Introduction to CheckMy 2000 Software
CheckMy 2000 software provides you with an easy way to protect, control and manage your personal or business bank, loans and mortgage accounts.
The CheckMy 2000 software family:
CheckMy Banking 2000 - with Quicken® import
CheckMy Loans 2000 - with 15 loan calculators
CheckMy Mortgage - with country settings
When you purchase CheckMy 2000 you acquire a non-exclusive, non-transferable end user license to run CheckMy 2000 software any computer.
Ultra Fast Data handling within CD version of all CheckMy 2000 software
A considerable amount of "number crunching" takes place behind the scenes in CheckMy 2000 as the software handles interest equations and bank charges, or mortgage and loan repayments schedules to give you results in a matter of seconds.
CheckMy 2000 CD based software incorporates ultra fast data handling software that handles mutiple financial calculations at lightening speed. Testing with a Dell XPS 600 with 650 MHz processor, 128 Mb on board memory, CheckMy Loans 2000 and CheckMy Mortgage 2000 stride through 300 months of repeat calculations of interest and reducing loan balances in under one second. CheckMy Banking 2000 processes 1,825 rows of daily data imported from QuickenŽ in 1.5 seconds. This is particularly useful for users of QuickenŽ who wish to import large volumes of data into CheckMy Banking 2000 and when recalculating interest and statement data for several years of account data.
Downloaded CheckMy 2000 Banking and Loans run adequately on slower PC systems, although 133 MHz systems are probably the lowest level at which acceptable calculation speeds and database access responses are maintained. CheckMy Mortgage DL2000 CD version incorporates the high-speed data handling software in the repayment schedules and MyMortgage tables.A considerable amount of "number crunching" takes place behind the scenes within CheckMy 2000 software as calculations and databases work away simultaneously processing interest equations, calculating bank charges, mortgage repayments, loan balances and reports to give you results in a matter of seconds.
Cross Checking
Interest and loan repayment values calculated in CheckMy 2000 software crosscheck (are identical) with the values published in "Barron's Financial Tables For Better Money Management" © 1992, the "Lenders Toolkit" published by BankLine Publications© 1995, "The Bankers Secret" published by Villards Books, a Division of Random House ©1994, by Marc Eisenson, The Smart Company's Guide to Managing Your Banking (Techniques to gain Maximum Value at Minimum Cost) published by the Financial Times/Pitman Publishing, © The Bank Consultancy Group 1994, and The Vest Pocket Real Estate Advisor, published by Prentice Hall, © 1989.Loan/mortgage payment values in CheckMy Loans and Mortgage 2000 crosscheck with Quicken® calculated Loan repayment values for US, Canadian and UK loans and mortgage repayment values.
Easy to Use Software and Lots of Progress Messages to Help
We have incorporated several features within CheckMy 2000 software to make using CheckMy 2000 software simple and easy to use. The toolbars incorporate quick "click and go" commands to all parts of the software, there are several on-screen Help messages which you can access using F1 keys on the keyboard, easy mouse cursor click selection of rows for data entry, edit or delete and several progress messages.Progress bars and messages have been built into CheckMy 2000 software, particularly into CheckMy Banking 2000 and CheckMy Loans 2000, to let you know what is happening "behind the scenes" as the software crunches through its financial routines. These progress bars appear when a delay of more than one second intervenes between initiating a calculation command (such a pressing the Interest button in CheckMy Banking 2000) and results appearing on screen.
Check these features in CheckMy Banking 2000 |
Daily updating your personal and business bank records.
Confirming your bank statement balances.
Preserving your banking records on your computer.
Calculation of bank charges, cross check with your bank.
Calculation of overdraft and deposit interest, cross check with your bank.
Calculation of daily cleared balances.
Reports daily floating balances (uncleared check balances).
Reports daily net balances (net funds available to withdraw).
Reports daily interest charges or credits on overdraft/deposit accounts.
Reports deposit clearing calculations and costs of clearing.
Reports bank charge variances from tariff.
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CheckMy 2000 software is used with a combination of both mouse and keyboard. We have installed several short-cut keys on the keyboard to significantly speed up using the CheckMy 2000 software.
Using a Mouse
We assume that you know how to use a mouse. Since some people will be new to their computer we provide a brief definition how the most common terms are used in this User Guide:
"Clicking" refers to placing the mouse pointer over an area of the screen and clicking with the left mouse button.
"Right-clicking" refers to clicking with the right mouse button.
"Dragging means holding the left button down while moving the mouse."Selecting" means clicking on something with the mouse.
"Click > a button means clicking the on -screen button with the mouse.
You can "scroll" some of the boxes and screens in CheckMy 2000 software by dragging the button along a slider bar on the right side of the screen.
The Toolbar
The toolbar is one of the most important "click and go" parts of CheckMy 2000 software. The toolbar is the horizontal frame containing the graphics pictures at the top of the screen. To open account registers, charges, reports screens, set up interest rates and credit limits, review the statement analysis and interest reports, select an account in the Accounts Information screen and then click the required picture on the toolbar. This opens the screen for you.
The Menu bar
The menu bar is the horizontal bar running directly above the toolbar containing pop down menus starting with File. Clicking a menu brings the menu into view. Click the option you wish to use and it will open.
The Tab Key
Use the tab key on the keyboard to enter data into new account set up and loan data entry boxes in CheckMy Loans. This is usually found to the left-hand side of the "Q" key.
F Keys
CheckMy 2000 software screens that require your input have on-screen Help messages to assist you and help find your way around. These are located by clicking the F1 button on the keyboard. The F2 key retrieves the Quick Start message.
Minimum and Recommended System Requirements |
All CheckMy 2000 products crunch through financial equations calculating interest and coping with multiple repeat calculations at high speeds. High power personal computers handle these calculations with ease.
Before you install CheckMy 2000 software, check this list to make sure that your computer has everything you need.
The recommended processor for CheckMy Banking and CheckMy Loans is 450 MHz.
You must have at least 32
MB (megabytes) of RAM. For best performance, we recommend 128 MB.
You must have a 4x speed
(or faster) CD-ROM drive
You must have sufficient empty storage space on your hard drive. How much depends on your usage of the CheckMy 2000 Software. CheckMy 2000 requires 23.0 MB of spare disk capacity to load all three systems.
Your computer must support
SVGA (16 bit) quality graphics, and your video card must have at least 1 MB
of onboard memory. For best performance we recommend systems with 32 MB.
There must be a working
mouse attached to the computer.
There must be a floppy drive
if you want to back up your data.
Windows® 95/98 must
be installed.
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CheckMy Banking
2000 provides you with an easy way to maintain and verify all your bank account
records, interest calculations, account charges, cleared balances and float
balances.
There are four
main screens to help you enter data and receive reports in CheckMy Banking 2000:
Account Information screen:
This maintains all your bank accounts and provides a global review of all your account balances.
There are three buttons above the grid:
New - creates new bank accounts for you within CheckMy Banking 2000.
Edit - when you select a row and click this enables you to edit your existing account data.
Delete - when you select a row and click this will delete an account.
Above these three buttons you will see four tabs. When you click the far left hand tab you can review all your Accounts, click the tab immediately to the right to review current Bank accounts, the center tab to review credit/overdraft accounts and the far right hand tab to view deposit accounts.
When you double click an account/row it will automatically open the Transaction Registers screen for you. Alternatively you can or click a row to select it, and then click the Registers button on the toolbar.
Transaction Register screen:
There are three buttons above the grid:
Enter - Click Enter to enter transactions (deposits and withdrawals/payments, transaction costs, account interest + andaccount interest - amounts plus the date and selection of the type of transaction.
Edit - Select a row and click edit to change your transaction data.
Delete - Select a row and click Delete to delete the input data. CheckMy Banking 2000 allows complete rows to be deleted.
Plus two buttons to the right:
Daily - Click and you move directly to the Daily Register.
Dates - Click to open the statement dates window
Further detailed information and explanation about entering transactions is presented in a screen-by-screen format in the Easy Learning Guide to CheckMy Banking 2000. (Order now).
For each account maintained within CheckMy Banking 2000, the Transaction Register displays records of:
Date of transaction
From/To/Memo record
Transaction type records
Bank charge record
Deposit amount record
Withdrawal amount record
Account interest record
Account balance
Daily Register screen:
There are three buttons above the grid:
Interest - Updates interest calculations.
Edit - Select a row and then click Edit to change the value of the cleared balance.
Display - Changes display of the number of interest decimal places.
Plus two buttons to the right:
Transactions - Click to return to the Transaction Register.
Clearing - Click to open the Deposits Clearing Register.
Further detailed information and explanations about using floating balances, net balances and cleared balances are presented in a screen-by-screen format in the Easy Learning Guide to CheckMy Banking 2000. (Order now).
This Daily Register screen provides you with a reminder of which bank account you are using.
For each account maintained within Banking 2000, the Daily Register reports:
Date of closing balance
Value of closing account balance
Value of closing cleared balance
Value of closing float balance
Current Credit limit/overdraft limit
Closing net balance
Interest + Calculated
Interest - Calculated
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Turn on your computer.
Open the CD-ROM drive and place the CheckMy 2000 CD-ROM in your CD drive.
Close the drive and wait for the CD light to stop, indicating that the CD has been recognised.
Click the "My Computer" icon on your Windows computer screen and then click the CD drive icon (usually the "D" drive).
You will see the install icons for Banking 2000 (Fast) , Loans 2000 (Fast) and Mortgage DL 2000 (Fast)
To install Banking 2000 (Fast) click the Banking (Fast) icon.
InstallshieldŽ will lead you quickly and easily through set up procedures.
CheckMy 2000 installs into C: \Program Files\CheckMy.
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If you are using the CD version of CheckMy 2000, once have successfully installed CheckMy Banking 2000 keep the CD-ROM in the CD drive and click the Windows Start button > Programs. Locate the CheckMy directory in the Programs list and click Banking. This opens the CheckMy Banking 2000 program.
When you come to restart CheckMy Banking 2000 again the CheckMy Banking CD-ROM must be placed in the CD drive before you start. It can be removed after the system has opened. This is a security measure to prevent illegal distribution. The CD also contains a security program to defend itself against illegal copying.
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1. Follow the instructions in Installing CheckMy Banking
2. Read the quick start instructions contained in the Welcome screen which pops up when you first run CheckMy Banking 2000.
We have provided a Quick start welcome message, which appears when you first start CheckMy Banking 2000. This provides you with instruction how to make a quick start.
The F2 button located at the top left of the keyboard will retrieve the Quick start message. Click the small window at the bottom left if you do not want this message to keep appearing every time you open CheckMy Banking.
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In CheckMy Banking we have provided several pre-loaded features to make your software easy to use. The first pre-loaded feature you will come across is that CheckMy Banking opens with a user file called MyBanking. This can be your constant filename and you need never change it. In the normal course of using CheckMy Banking you may never want to set up a different filename.
If however, you wish to sub-divide your banking records up (for example between personal and business accounts, or between different family members) then click File on the menu bar > Close Account File. This closes the MyBanking file. The grid portion of the screen goes blank because there is no file selected and no records to display. Now click File > New Account File. Type in any chosen filename of your choice in the bottom File name space and click Save. The new account screen will appear.
Individual files can be password protected so that only you or an authorized person or persons can open and view your account records.
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You most likely will not need to open an account file if you use the standard MyBanking file which is already set up for you. If however you decide to open a previous created file, the procedures are as follows:
Close the file in current use by clicking File > Close Account File. The grid portion screen goes blank because there is no file selected and no records to display. Click File > Open account file. Select the file you wish to use and click Open. The new Account Information screen will appear. There may be a slight delay depending on the processor and memory capacity of your system as the software recalls the data into the system.
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If you wish to protect your data in CheckMy Banking 2000 click File on the menu bar > Password > Set password. Enter any memorable password into the password box and then click OK. This enables the password protection screen.
If you wish to change the password at any time click File>Password>Change password.
The software will confirm that the password has changed.
The password box appears every time you open a CheckMy Banking 2000 file once you have set a password.
You have three tries at entering the password. A fourth incorrect entry will close the password sequence down.
Note: A Password protects an individual file so each user can have their own password to protect sensitive information being viewed by unauthorized prying eyes.
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When you wish to backup data in CheckMy Banking 2000 onto floppy disks follow these procedures:
Insert a formatted disk in your floppy disk drive. Click File > BackUp > Backup Account File. The file will close, the user part of the screen will go blank, follow the instructions and the file is copied to the floppy disk.
If you wish to restore account data from a floppy disk follow these procedures: Insert the disk containing the CheckMy Banking file in your floppy disk drive. Close the account file which you are working with by selecting Close account file.
The user part of the screen will go blank.
The Restore link in File menu now becomes active.
Click File - Restore. The files are copied into Banking 2000.
Further detailed information and explanations about backup and restore are presented in a screen-by-screen format in the Easy Learning Guide to CheckMy Banking 2000. (Order now).
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CheckMy Banking always opens at the Accounts Information screen.
Use the Account
Information screen to set up, edit and delete your bank accounts.
To start the
creation of a new account in CheckMy Banking 2000 read the message for Quick
start instructions (F2 key). The message appears automatically when CheckMy
Banking first opens.
Click the New
button on top of the information grid and enter the new account details.
Alternatively
click Accounts on the menu bar > Create new account.
Use the tab
key on your keyboard to enter your bank information.
Have your starting
account balance, interest rate and bank details ready to enter.
Use the tabs
on top of the set up screen or the Back/Next buttons to move around Set Up.
To set up new
bank information click New in the Bank information section.
When you have
completed all the starting information click the Done button.
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The Accounts information screen provides "at a glance" information about your bank accounts.
The screen displays for each account, the current account balance, cleared balance, present credit (overdraft) limit and the net balance (available funds).
We have provided the first file in CheckMy Banking 2000 ready for use. You do not have to create any new or additional account files if you do not wish to. The file will hold all your bank account records. You can view the filename in use in the very top title bar.
Use the Accounts Information screen to create a new account (> New Button)
Use the Accounts Information to edit account information (> Edit Button)
Use the Accounts Information screen to delete an account (> Delete Button)
Use the Accounts Information screen to select an account to move to other parts of CheckMy Banking (> click a row)
Move the mouse cursor close to the buttons and toolbars to read quick help messages. The Account Information screen operates as the central control to move between accounts and to move to other parts of the software using the toolbar.
To start using the features within CheckMy Banking 2000 once an account has been created, place the mouse cursor over the row in which the account information is located. Click once with the left button. The row changes color to show that it is selected. Now click any button on the toolbar to open the part of Banking you wish to use or review for that account.
Note: If you have not pre-selected an account in the Accounts Information screen (no account row is selected) then the toolbars and features within CheckMy Banking will not open since there is no account chosen.
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The toolbar provides an easy to use "click and go" feature to help you move quickly and easily around CheckMy Banking 2000.
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Opens the Account Information screen. |
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Opens the Transaction register screen. |
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Opens the Bank Charges report. |
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Opens the Bank Charges & Transaction set up screen. |
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Opens Account Information. |
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See Using the Recalc button section of the User Guide |
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Sets interest rates. |
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Opens the window to set credit/overdraft limits. |
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Opens the Quicken import program. Active in the Quicken Import version only. |
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Select Account Analysis report or the Interest Schedule Report. |
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List of reports to print. |
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This button provides directions to Help features contained within CheckMy Banking 2000. |
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Statement Dates: Statement dates are used by Banking 2000 to collect and calculate account data, interest and account charges between statement start and end dates. It is important to enter the correct statement dates for each account. Each account can have different statement dates. To enter statement dates go to Dates on the main menu and select Statement dates, or select the Dates button in the Transaction Register to open the statement dates window.
When statement dates window first opens you see the first row of dates which starts on the opening balance date of the account and ends on 31st December 9999. To enter the first statement end date, click the row that contains the 9999 entry and click Edit. You will see the starting date of the account followed by a new end date. The software calculates the last day of the starting statement period and enters this date into the End date window. If this date is correct click Done. If it is incorrect select the correct date and click Done. You will now see that the first statement start and end period has entered the Statement dates window and the 9999 date row has moved down one row, with a new starting date the next day after the end of the last period. To create the next statement period, click the 9999 row again and enter the next statement end date and click Done. Repeat for as many statements as are required.
Credit Limits: Click the Credit Lmt button on the toolbar for the account you wish to set a credit limit. (select the account first of all in the accounts information screen). This opens the credit/overdraft limit window. When the credit/overdraft limit window first opens you will see that the first row contains the account start date and 31st December 9999 as the period end date, with a credit limit of zero. To change these settings, select the first row and click the Edit button. You will see that the software has automatically assigned a new end date. If this is not correct, click the date selector to the right of the end date window and select the correct end date. Now enter the credit limit value and click Done. The new credit limit enters the window. To create a new credit limit at a later date, select the row containing the 9999 date and enter the new limit value. To make credit limits enter the account information screen, the credit limit end date must lie beyond the date of the last transaction.
Bank Holiday Dates: To enable Banking 2000 to calculate deposit clearing days correctly, it needs to know the dates of local bank holidays. Deposits do not clear on bank holidays. Go to Dates on the main menu and select Bank holidays. Enter all the bank holiday dates for the period for which transaction data exists now and for as many months ahead as you wish.
Further detailed information and explanations about entering statement dates and credit limits are presented in a screen-by-screen format in the Easy Learning Guide to CheckMy Banking 2000. (Order now).
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To enter a transaction into the Transaction register click the Enter button above the grid. This brings the New Transaction window into view. Enter your deposits, payments/withdrawals, interest charges/credits and bank charges.
Start by selecting the date from the pop up calendar.
Select the kind of transaction you want to enter.
Enter From/To details in text.
Enter the transaction amount as a Deposit, Payment/withdrawal, Interest -, Interest +.
Interest -, Interest +. is interest charged to your account or credited to your account. It is a record of bank interest for this account only.
Banking 2000 provides 30 standard Bank charge categories pre-loaded into the system.
Each category is set to 0.00 standard cost to start with.
Select the type of transaction you wish to enter from the Type list provided. If you do not see the type of transaction listed that you wish to use return to the Register and click Charges to set up a new charge description.
The selection of a transaction type (such as check deposit, standing order payment, direct debit payment etc) automatically brings the item charge into the Transaction Entry window. The item charge can be edited or left as the standard charge.
Any difference from the standard bank charge and the cost entered by you will appear in the Bank Charges Variance report so that you can continuously track unauthorized bank charges.
When you have completed entering all the transaction information click the Done button.
CheckMy Banking 2000 automatically updates the account balance.
If you have entered a Deposit and if Deposit Clearing is "on" a pop up window appears to set the number of clearing days.
Note: If you do not know how many clearing days to enter ask your bank for their clearing rules and read the Easy Learning Guide to Banking 2000 User for further screen by screen descriptions and explanations about deposit clearing.
Before you start to enter clearing days you are advised to set up local bank holiday dates. Go to Dates on the menu bar.
Click F1 on the keyboard for on more on-screen Help.
Editing and Deleting Transactions.
To edit a transaction click the row which contains the transaction information by clicking once with the left mouse to select the row, and then click Edit. This brings the Edit Transaction screen into view.
Click the Delete button to delete a transaction.
Click the Daily > button located to the right top of the screen to move onto the Daily register screen.
Deposit Clearing
Cleared balances
Checks deposited in your account are recorded in your statement on the day of deposit. However the amount deposited may not available for withdrawal until the paying bank confirm that payee funds are available. This may take several days. Banks maintain a second account balance which they call Cleared balances which calculates the funds available (cleared) for withdrawal. This cleared balance account controls the amount of funds you can withdraw or use to meet checks each day.
Daily cleared balances are also the basis for overdraft and deposit interest calculations.
CheckMy Banking 2000 contains a suite of programs which calculate the time delays incurred clearing deposits to your cleared balances in your account. This suite is called "Deposit Clearing". You can select to have Deposit Clearing set to either on or off by opening the Deposit drop down menu located on the main menu (above the toolbar) and switching to Deposit clearing on or Deposit clearing off.
CheckMy Banking 2000 is delivered with Deposit Clearing OFF.
With Deposits Clearing OFF, the software sets the value of cleared balances in the Daily Register to be the same as account balances. This setting is particularly suitable when using CheckMy Banking 2000 for charge card and credit card accounts and for deposit accounts.
With Deposit Clearing ON, each time you enter a new deposit in the Transaction Register, you are asked if you want to set a clearing cycle for the deposit (see next paragraph). If you choose no, the software enters a clearing value of zero days and the deposit is credited to your cleared balance on the same day as the date of deposit. Zero days clearing is suitable for cash deposits and wire receipts.
If you enter "Yes" the Clearing Cycle entry window appears with the deposit date and amount entered.
Now enter the length of time in days that your bank promises the deposit will take to clear. Refer to your bank rules, which are publicly available, on request. If you enter a clearing cycle of one day in CheckMy banking this sets the deposit to clear on the next working day, a cycle of 2 means the deposit will clear and be available on the 2nd working day.
Weekends and bank holidays are not working days so it is important to tell the CheckMy Banking about your bank holiday dates.
Setting Bank Holiday Dates
Whilst you have the Deposit Clearing Cycle screen open click Bank Holidays and enter all the bank holidays for as far ahead as possible for the next 12 months ahead. Remember to do so again when this 12-month period has expired.
If you do not enter bank holiday dates the software will assume that bank holidays are working (banking) days and the clearing days calculations will be incorrect.
Viewing deposits on "Clearing hold" on any date
Deposits which are held in the clearing cycle can be viewed as follows:
Click a row in the Daily Register to select the date and then click again. The pop up screen summarizes deposits in clearing on that date.
Viewing deposits clearing schedules
Click Clearing button located to the right of the Daily Register above the grid which opens the Deposits clearing register. This provides a complete analysis of each deposit clearing history.
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The Daily register calculates and displays daily account and cleared balances, floating balances and Net (available funds) balances.
These are the account balances used by your bank to manage your account.
Use this screen to edit cleared balances (> Edit button).
Use this screen to set decimal places for interest calculation reporting (> Set button)
Use this screen to set Statement dates (> Dates button)
Use this screen to view deposits on clearing hold (> select a row and click)
Use this screen to review:
Closing account balances - daily
Closing cleared balances - daily
Closing float balances - daily
Current overdraft/credit limit.
Current net balances (funds available to withdraw) - daily
Positive interest (when cleared balance > 0.00) - daily
Overdraft interest (when daily cleared balance < 0.00) - daily
Floating = (account balance - cleared balance)
Floating balances are the total sum of uncleared deposits.
Net balances = (cleared balance - credit limit)
Net balances are the amount of money available to withdraw or pay out daily.
Interest + calculated amount of credit interest when cleared balances > 0.00.
Interest - calculated amount of overdraft interest when cleared balance < 0.00.
Click F1 on the keyboard for more on - screen Help.
Read the Advanced CheckMy 2000 User Guide for further guidance in using the Daily Register to control and manage bank accounts, overdraft, net and float balances particularly to control unauthorized and expensive overdrafts.
Interest Calculations
The software takes each daily closing collected balance value and checks whether the balance is greater or less than zero. When the balance is greater than zero (positive balances) the software applies the positive interest rates for that date and places the interest value into the Interest + column.
When the balance is less than zero (negative or overdrawn balances) the software applies the negative interest rates for that date and places the interest value into the Interest - column.
How to set interest rates: See the section "Setting Interest Rates, Credit Limits, Bank Charges and Statement Dates section.
To review summary of interest calculations for a statement period click Analysis (located on the toolbar) > Account Analysis.
The Interest button
When you enter new transactions data into the Transaction Register, the new daily closing account balances are transferred into the Daily Register. The Daily Register screen calculates and displays cleared, float and net balances but does not calculate interest values until you activate the Interest Button. When the Interest button is clicked the software calculates interest for all newly entered daily balances. If there are no new balances within the Daily Register, no interest calculations are performed.
Note: To calculate or re-calculate interest on all the daily balances contained in the account in use, click the Recalc button located on the toolbar. This refreshes all calculated values contained within the Daily Register from the starting balance date.
Caution: Activating Recalc when you have thousands of daily balance values in the Daily Register will cause all daily interest values to be refreshed.
When Deposits clearing option is switched ON, cleared balances in the Daily register are determined by the number of days clearing you have entered in the Transaction register. If all the days clearing values are all zero then the cleared balances are exactly equal to the account balances (since there are no clearing delays).
You can edit the values that the software has entered (if your bank has cleared deposits differently than their stated clearing guidelines) by selecting a row and clicking Edit.
When you have edited a cleared balance value the system cancels the cleared register, as the new values are no longer the calculated. values.
The Decimal places button
The Set button in the Daily Register "sets" the number of decimal places the software will present daily interest values to you in the Daily Register and Interest Report. The software comes pre-loaded with a decimal setting of 2 places. An example would be 22.48.
If you wish to see if your bank is rounding interest up or down (pennies can add up) you can set the interest places up to a maximum number of 5 places of decimals. An example would be 22.48995. If you bank has credited you with interest of only 22.48 interest you can see at an instant that you have been short-changed by almost one penny. Not a lot but compounding interest can soon enlarge the differences.
Note: In the Statement analysis screen if your interest amounts are greater than 1,000.00 then setting interest values to 5 places of decimals may make the total values overlap the row width. Check with 2 places of decimals first of all then increase the settings if you want more accurate analysis.
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Use the Deposit Clearing Register to:
Review the clearing cycle history of each deposit.
Review the calculated clearing dates for each deposit.
Review the actual number of days (Real Days) taken to clear each deposit.
Review the values Amount*Real Days.
Use this screen to go to Costs report (> Costs button).
Use this screen to return to the Daily register screen (> Daily button)
The Deposit register displays the value of A*Real Days for each deposit, sometimes called "Money days float".
A represents the Amount of the deposit.
Real Days represents the number of days of including weekends and bank holidays it takes to clear a deposit.
A*Real Days = the deposit amount times the number of days to clear = Money days of float.
Deposit clearing interest costs
Deposit clearing has a significant effect on your banking costs and interest calculations. The longer deposits take to clear the lower will be the value of your cleared credit (positive) balances or the higher the value of your overdraft cleared balances which are used to calculate interest.
Read the Easy Learning Guide to Banking 2000 for further guidance and screen by screen explanations using the Daily Register to control and manage bank accounts, overdraft, net and float balances particularly to control unauthorized and expensive overdrafts.
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Select an account in the Accounts list screen and click Charges on the toolbar. This opens the Bank charges and transaction items set up screen.
To enter a cost into an existing transaction charge category:
Click the row in which the category is listed in the Type column. The row is now highlighted.
Click the Edit button
Enter the date the new charge item will apply from.
Enter the cost into the Transaction cost window at the bottom of the box. Click Done.
To create a new type of transaction
Click the New button.
Complete the description of the new category and the cost.
The choices of Category are Each or Monthly.
Each means that the category cost will be applied each time the transaction type is entered into the account.
Monthly means that the charges should be applied monthly. These are both reminders only.Note: Bank Charge costs set are always the current settings. The software does not "remember" previous charge settings. The costs applied to transactions are always the values currently in the Bank charges and transaction screen settings. If you want to go back to past times and enter bank charges, which applied earlier, change the settings in the Bank charges and transaction screen first.
Setting Credit Limits |
Credit limits are the same as overdraft limits.
When in an account click Credit Lmt button (located on the toolbar).
The screen first opens at the statement start date and because the software needs to know how long the credit limit settings is to apply the first end date is set some way into the future.
The first credit limit setting is zero.
To change this setting click First row > Edit button. Change the credit limit to the required level.
To change credit limits to a different value at a later date click New and enter a new setting.
Interest Rates Settings In CheckMy Banking 2000
Interest rates in CheckMy Banking 2000 are described as follows:
Positive interest rates > Interest is calculated on balances > 0.00 (credit balances).
Negative interest rates > Interest is calculated on balances > 0.00 (o/d balances).
Select which interest type you are setting.
For the purposes of the following example we are going to assume you have selected Negative (O/D) interest rate settings:
The choices of interest rate settings in CheckMy banking are as follows:
Either: Annual percent rate (usually referred to as APR)
Or: Nominal interest rates (the type of interest rate used by banks for overdraft accounts)
Then you select one of the following:
Simple
Whole
Tiered
"Simple" tells the system that interest is charged on all overdraft balances whatever their value.
"Whole" tells the system that there are different interest rates for different levels of overdraft balances and that the rate applicable any day is determined by the level of the cleared balance and is calculated on the value of the whole balance.
"Tiered" tells the system that there are different interest rates for different levels of overdraft balances and that the rate applicable any day is determined by the level of the cleared balance and is calculated on the value of each tiered balance.
Then select one of the following equation types to enable the software to calculate the daily interest rate:
Rate/36000
Rate/36500
Rate/36600
Rate/12/number of days in the month
Ask your bank which of these methods is used by them.
Rate/36000 = annual rate/366 days in the year/100 to convert to decimals.
Rate/36500 = annual rate/365 days in the year/100 to convert to decimals.
Rate/36000 = annual rate/360 days in the year/100 to convert to decimals.
Rate/12/number of days in the month = annual rate/12 months in the year/number of days in the month/100 to convert to decimals.
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If you wish to apply CheckMy Banking for checking and validating your banks interest calculations (or even to challenge them), it is essential that the dates entered for all transactions within the period of review are the same as shown on your bank statement.
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Click Analysis on the toolbar and then select Statement analysis report.
Make sure that you have set up statement dates first of all before calling this report.
Click > Update to bring data into this report, or refresh account values.
The average, maximum and minimum balances are based on the values of daily cleared balances.
Interest + values are calculations based on daily positive cleared balances and positive interest rate settings.
Interest - values are calculations based on daily negative cleared balances and the negative interest rate settings.
Costs are the sum of account charges entered through the transaction register. Select any statement row and then click Summary to open the transaction report for that individual statement period.
For more information about using this report and the Update button feature to calculate savings and differences between alternate interest rate bearing accounts, read the Easy Learning Guide to Banking 2000.
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To enable the Interest report into statement reporting mode it is necessary to set Statement start and end dates first of all.
To review this Report either click the Statement analysis button on the toolbar. Select Statement analysis, or access through the Reports menu located on the main menu bar.
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To open this Report either click the Charges button on the toolbar or select from Reports on the main menu bar.
For additional information about how this screen can be used to check your account charges, read the Easy Learning Guide to Banking 2000.
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To open this report either select Variances report in the bank charges screen or select from Reports on the menu bar.
For additional information about how this screen can be used to check your account charges, read the Easy Learning Guide to Banking 2000
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To import a QuickenŽ account file first click the QImport button on the toolbar to familiarize yourself with the QuickenŽ account import screen.
Create a new account in Banking 2000 to receive the account you wish to export from QuickenŽ. The starting date must be equal to the start date you wish your QuickenŽ data to appear in Banking 2000. Make the opening balance equal to zero. Click Done to set up the new account.
Now minimize Banking 2000.
Open your QuickenŽ program.
Back up your files to floppy disk for security.
Go to File Operations > Validate.
Validate that your QuickenŽ files are OK.
Then go to File > File Operations > Export, or in QuickenŽ 99 and 2000 versions, File> Export.
Type in an export filename of your choice, or leave as the default QIF filename.
Jot down a record of the export filename
Select Transactions only (by entering a tick) to export from QuickenŽ (nothing else).
Check that the start and end dates match the date boundaries in the Banking 2000 file you have set up to receive the QuickenŽ QIF file.
Click OK
Close QuickenŽ .
Restore your Banking 2000 to full size and open the QImport screen.
Either: Type the Quicken export [filename] into the Enter Quicken Export Filename in the following format: c:\filename.qif
Or: Click the Find file button. If you have exported the QIF file to the C: locate the c:\filename in the C: folder. If you have exported the QIF file to floppy disk, open the a: disk and locate the filename.
Bring the filename into the Filename window and click Open.
Check the file information in the windows, and if correct select Transfer Account.
Banking 2000 displays the number of records that enter and sends a success message when all QuickenŽ data has been transferred.
For further explanation about imported QuickenŽ accounts and using them in Banking 2000 to expand QuickenŽ data to create new reports, read the Easy Learning Guide to Banking 2000.
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When you alter previously entered interest rate values or credit limit values in CheckMy Banking 2000, the software needs to know that you want it to recalculate using these new settings. Click the Recalc button located on the toolbar to refresh interest calculations and net balance values. If the change in interest rate settings and/or credit limit only effects future entries into CheckMy Banking there is no need to use Recalc.
Recalc recalculates and refreshes ALL row values in the Daily Register from the first row. At the same time Statement Analysis and Interest Reports are refreshed with recalculated information. If you have large volumes of historical account data, it may a few seconds for all the recalculations to complete depending on your system processing speeds.
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To read our screen Help messages click F1 key on the keyboard. Help messages are available for the Accounts Information, Transaction Register and Daily Register screens.
The trouble-shooting section below provides snapshot answers in case you get stuck.
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Question/Problem Answer/Go To How do I start using CheckMy Banking 2000? Install the software Read the Quick start message by clicking the F2 key. I have set up my bank account, now what? Select the row which contains the account in the Accounts Information screen and double click to open the Transaction Register. Click the Enter button to open the New Transaction Window. I cannot get the toolbar to do anything You have to select an account first of all in the Accounts Information screen. How do I create my bank item costs? Select an account and click the Charges button on the toolbar. Find the item you want to create bank charge item cost for and click the row. Now click Edit and change the cost value. Can I enter item costs straight into the Transaction Register? Yes, the item charge value can be edited in the Enter box. The charges variance report will display variances from zero until you set up your bank charges in Transaction Item set up. How can I see the total charges for the current statement? Click the Charges button on the toolbar. I made a mistake with one of my transactions, how can I correct this? Select the transaction row and click Edit and change the inputs to the correct values. How do I set the number of clearing days? First of all select Deposits Clearing ON. Now after you enter a deposit the software asks if you wish to create a clearing cycle. If you answer yes a pop up screen allows you to enter the number of clearing days. What is a clearing day? If your bank tells you that a deposit will clear the day after tomorrow, enter 2 days as the clearing day value. Why do I have set up Bank Holiday dates in CheckMy Banking? Because deposits do not clear on bank holidays, and to track days of deposits the system has to know when bank holidays occur. Why should I be concerned about clearing days? The longer a deposit takes to clear the lower the amount of your available funds, the higher your account charges or lower credit account interest How can I see which deposits have not cleared on any date? Left click the date row in the Daily Register and a pop up report gives A summary of all deposits held in clearing on that date. I have exported my Quicken data and set the interest rates, but no interest values have appeared in the Daily Register. Click the Recalc button located on the toolbar. The interest charges calculated in CheckMy Banking do not agree with my bank figures, why? This subject is covered in detail in Advanced stuff - it's your money. What is the meaning of Net balances? Net balances are the funds available to you on the date indicated. If your credit limit was -5,000.00 and you had a cleared balance of +1,500.00 you have 6,500.00 funds to draw. This is your net balance. What is the difference between account balances and cleared balances in CheckMy Banking? Account balances represent balances you see on your statement and cleared balance represent account balances less uncleared deposits on the date indicated. How do I set credit limits or overdraft limits? Click the Credit Lmt. button on the toolbar. Click the date row You wish to enter a credit limit value and enter the new limit. How can I see how my interest has been calculated? Click Analysis on the toolbar and select the Interest Report What is the meaning of cumulative interest in the Interest Report? Cumulative interest is the sum of positive or negative (O/D) interest for each statement period. If you have not set statement periods up then the cumulative totals simply go on adding for ever How do I set statement dates? Go to the daily Register and click the Dates button. Why is the last end date always set at 9999? We have set the last end dates at 9999 to signal to the system that the settings for interest rates and credit limits are the current values. The software has to know that last settings are the current settings. What do decimal settings do in CheckMy Banking? If you want to review your interest calculations to more than 2 places, set decimals to 3-5 places. You can then see if your bank is rounding fractions of your pennies up or down. How do I change the date format settings? Close CheckMy Banking and in Windows click Start > Settings > Control Panel> Regional Settings >Date. Change the date setting to the format you require. Restart Windows and then restart CheckMy Banking . Can I have currency settings? Yes, in your Windows screen click Start > Settings > Control Panel> Regional Settings >. Change the currency to your requirements. Can I transfer money between different accounts with a simple click? No, that feature will be in CheckMy Banking 2001. Can I use CheckMy Banking to track credit card interest? Yes. This subject is covered in Advanced stuff - its your money. Does CheckMy Banking allow APR interest settings? Yes. Does CheckMy Banking allow monthly interest rates? Yes. Can I set one interest rate up to one level of O/D and another higher rate on additional borrowings? Yes Can I set one interest rate up to one level of credit balances and Other rates on higher levels? Yes Does CheckMy Banking accept interest rates of zero Yes How many accounts can I hold in CheckMy Banking An unlimited number. The interest charges calculated in Banking 2000 do not agree with my bank figures, why? Ask your bank to explain the discrepancies!
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CheckMy 2000 software is fully Y2K compliant. Years can be used in four-digit mode throughout all CheckMy 2000 products.
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This User Guide is the property of Abacus Systems Ltd., 44 Church Street, Hamilton, Bermuda. It is copyright protected. It is provided freely on the Internet to assist with the use and application of CheckMy 2000 software. Any unauthorized reproduction or copying is prohibited.© 2000. Abacus Systems Ltd. All rights reserved.
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