How to set up Bank Accounts
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How to set up Bank Accounts

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Bank Accounts: Set up Bank Accounts

If you interact with one bank or many banks or credit card companies, you can create an address book record for each entity.

A summary of the process is as follows:

Create an address book record for your bank

Set up your bank or credit card company in the address book.

The ABA bank file details are also created in this record. If you wish to process batch payments, please contact your bank for information and complete the “bank” section.

Click on Business and Bank and enter the details for your bank

Noye: The bank account has to be linked to a general ledger account for receipts and payments to be posted, ensure this is set up.

Create Bank Accounts

Click on the Banks and your accounts tab

Click on the + and create a bank account record

Enter the required information.

Select the general ledger account from the drop down list and link the bank account to the correct general ledger account.

The  bank account  will now appear in the list of bank accounts for bank reconciliation

Description of fields in Bank Account Screen

Bank

Type name of Bank

Inactive

Tick this if account is not used

Account Type

There are three types to select

Internal Name

A name which you give for the account eg Bonus Savings Account

BSB

Account's BSB number

Account No

the bank accounts number

Account holder

the name of the entity that owns the account i.e. the name of the company that is shown on the bank statement

Overdraft limit

if applicable, the overdraft limit for the account

Currency

Select currency from drop down list

Division

The division which owns the bank account

Main Trading account

Tick if this is the main trading account - JobBag will default all payments and receipts to this account

Cheque account

Tick if you issue cheques

On exp claims for:

when creating an expense claim for a person, you can enter the fact that the expense was created by the selected account; mostly used for credit cards

Batch Payments

Tick if you process batch payments from this bank account

Notes

any notes you wish to add

GL account

select General Ledger account from drop down list; this will ensure transactions processed from this account are are posted to the correct general ledger account

Description of fields in Create Credit Card screen

Bank

Type name of Bank

Inactive

Tick this if account is not used

Account Type

There are three types to select

Issuer

Select from drop down list

Card Number

Credit Card Number

Name on Card

the name on the card

Expiry date

enter the date

Account holder

the name of the entity that owns the account i.e. the name of the company that is shown on the bank statement

Overdraft limit

if applicable, the overdraft limit for the credit card

Currency

Select currency from drop down list

Division

The division which owns the bank account

Main Trading account

Tick if this is the main trading account - JobBag will default all payments and receipts to this account

Cheque account

Tick if you issue cheques

On exp claims for:

when creating an expense claim for a person, you can enter the fact that the expense was created by the selected account; mostly used for credit cards

Batch Payments

Tick if you process batch payments from this bank account

Notes

any notes you wish to add

GL account

select General Ledger account from drop down list; this will ensure transactions processed from this account are are posted to the correct general ledger account


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