Bank Accounts
Track multiple bank accounts with smart reconciliation and payment management.
Overview
The Bank Accounts module helps you manage all your business bank accounts in one place. Connect multiple banks, track balances, reconcile transactions, and manage payments efficiently.
Key Features
- Multiple accounts - Track checking, savings, and credit accounts
- Bank reconciliation - Match system records with bank statements
- Payment tracking - Record incoming and outgoing payments
- Transfer management - Track inter-account transfers
- Balance history - View historical balance trends
- Smart matching - AI-assisted transaction matching
Adding Bank Accounts
Set up each bank account with its details:
- Account name and number
- Bank name and branch
- Account type (checking, savings, etc.)
- Currency
- Opening balance
Security
Bank account numbers are encrypted and only visible to authorized users. Access can be restricted by role.
Bank Reconciliation
Reconciliation ensures your system records match your actual bank statements. The process involves:
- Import or enter your bank statement
- System suggests matches with existing transactions
- Review and confirm matches
- Add any missing transactions
- Verify the ending balance matches
Regular Reconciliation
Reconcile your accounts monthly (or more frequently) to catch errors early and maintain accurate records.
Recording Transactions
Most transactions are recorded automatically from sales and purchases. You can also manually record:
- Bank fees and charges
- Interest income
- Direct deposits
- Manual payments
- Account transfers
Reports
Generate bank account reports to monitor cash flow:
- Account Summary - Current balances across all accounts
- Transaction History - All activity for a period
- Reconciliation Report - Status of each reconciliation
- Cash Flow Forecast - Projected future balances