02 - Setting up Bank Account (s)

Created by Connect Getaccountify, Modified on Wed, 6 Aug, 2025 at 12:22 PM by Connect Getaccountify

Setting up a bank account for your organization involves two steps:

Add the Bank under Bank Connect
Add Bank Accounts associated with that bank

Step 1: Create a New Bank

To register a bank your organization transacts with:

Go to the Bank Connect tab.
Click New in the top-right corner.
Fill in the required fields:

Field	Description
Bank Name	Name of the bank (e.g., ICICI Bank, SBI)
Entity	The entity or ledger this bank is linked to

Click Save.

You can create separate bank entries for each bank used by your various entities.

Step 2: Add Bank Account(s) under a Bank

Each bank can have one or more accounts used for financial transactions. Here's how to add them:

After saving the Bank record, go to the Bank Accounts section within the same record.
Click New.
Enter the following details:

Field	Description
Connection Status	Status of connection (Manual or Synced via bank feed)
Latest Balance	Current balance as per last sync or manual update
Account Name	Descriptive name for the account (e.g., HDFC-Current-001)
General Ledger	Select the GL account this bank account maps to

Click Save.

Multiple accounts can be added under a single bank, each associated with its own GL account.

You can also perform the following actions on existing records:

Edit Bank Account
Go to Bank Connect, select a bank, view the listed accounts, click Edit or Delete, make changes, and click Save.

Edit Bank
Go to Bank Connect, select a bank, click Edit, update the details, and click Save.

Delete Bank
Go to Bank Connect, select a bank, click Delete, and confirm the deletion.