Setting up a new bank account?

Steps involved in setting up a new GL account which becomes your new bank account

Written By Niall Conlon (Draft Writer)

Updated at April 6th, 2022

1.    Introduction: 

Before setting up a new Bank Account you must first set up a General Ledger Control Account Code for your new Bank Account. This account will hold the Bank Balance and associated transactions.

2.    Setting up the Bank account:

Go to the Bank Tab > Bank List screen as below

Click on Add new Bank

Which then opens the following Window.

In the Select a GL account field click the drop and as the General Ledger account needs to be created first click Create new GL Account

This opens up the below screen where you input your General Ledger code and choose your General Ledger Category and Sub Category.

Click Process to save this new General Ledger account which will automatically also become your new bank account.

Note - You may have to “Refresh” the screen to see your new Bank Account

To Edit the Bank Account details, Click on the “A/C Details” in the “Account Code & Name” section, as highlighted in the screen below.