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Cash Management Best Practices
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Exhibit 6.2 Bank Account Structure Using Best Practices

6–1 ACCESS BANK ACCOUNT INFORMATION
ON THE INTERNET

If the accounting staff needs to know the current balance outstanding on a loan,
savings, or checking account, the most common way to find out is to call the
company’s bank representative. This is a slow and sometimes inaccurate
approach, since the representative may not be available or will misread the infor-
mation appearing on the screen. More progressive companies have purchased
software from their banks that allows them to dial into the bank database to view
this information directly. While this is a reasonable approach, there is a cost asso-
ciated with the modem and software, and there is also a time delay while the
modem connects to the bank’s database. Also, much of this software is relatively
primitive and is character-based, rather than graphics-based.
An easier approach, and one that is rapidly supplanting the dial-up modem
method, is to provide bank customers with direct access to their account informa-