Bank Accounts
Bank Accounts let you track the money your company holds — in real bank accounts or as cash. Each account keeps a running balance from its opening balance plus deposits, withdrawals and transfers. It also moves automatically when you pick the account on a payment, an approved expense, a paid payroll, a vendor payment or a completed order (see Where the money comes from below). You can also generate a PDF statement for any date range.
This menu item appears if your company has the bank account module enabled and your role has view access.
How to add a bank or cash account
- Go to Finance → Bank Account and click Add Bank Account.
- Choose the Type — Bank or Cash. (Choosing Cash hides the bank-only fields.)
- For a bank account, fill in Sort Code, Bank Name, Account Number and Account Type.
- Enter the Account Holder Name (used for both bank and cash accounts).
- Choose the Currency.
- Enter the Contact Number.
- Enter the Opening Balance.
- Set the Status (Active or Inactive).
- Optionally upload a Bank Logo (bank accounts only).
- Save.
Account fields
| Field | Meaning | Required |
|---|---|---|
| Type | Bank or Cash | Yes (defaults to Bank) |
| Sort Code | Bank sort code | No (bank only) |
| Bank Name | Name of the bank | Yes (bank only) |
| Account Holder Name | A label for the account | Yes |
| Account Number | The account number | Yes (bank only) |
| Account Type | Saving, Current, Credit Card, Loans or Overdraft | No (bank only) |
| Currency | Account currency | Yes (defaults to company currency) |
| Contact Number | Phone number on file | Yes |
| Opening Balance | Starting balance | Yes |
| Status | Active or Inactive | Yes |
| Bank Logo | Logo image (png, jpg, jpeg, svg, bmp) | No (bank only) |
The account's Bank Balance is its opening balance adjusted by all recorded transactions. The opening balance is saved as the first transaction ("Opening Balance"); if you edit it later, a "Bank Account Updated" transaction records the difference.
Transactions
Open an account to see its balance, a credit-vs-debit chart, recent transactions and the full transaction list. From here you can record three kinds of transaction (each needs its own permission):
| Transaction | Effect |
|---|---|
| Deposit | Adds money to this account (credit). |
| Withdraw | Removes money from this account (debit). |
| Bank Account Transfer | Moves money from one account to another (debit the source, credit the destination), applying an exchange rate if the currencies differ. |
Each transaction records its amount, a memo, the date and the resulting running balance. A withdrawal or transfer cannot be larger than the account's current balance.
You can delete individual transactions, or several at once with the bulk delete action. Deleting a transaction removes the line but does not change the balance — to correct a mistake, record a Deposit or Withdraw instead.
Where the money comes from
Most transactions are created for you. Only Active accounts in the same currency as the record are offered on these forms.
| Where | What happens |
|---|---|
| Payment (Add Payment, Bulk Payment, or "I have received the payment" on an invoice) | A payment with a bank account adds to the balance ("Payment Credited") — only while its status is Complete. Editing the amount or account, setting it back from Complete, or deleting the payment corrects the balance. |
| Invoice / recurring invoice | The Bank Account field sets a default. Payments recorded on the invoice with "I have received the payment", and offline payments you approve, go to this account. |
| Online gateway payment (Stripe, PayPal…) | Not linked to an account automatically. Edit the payment and choose an account if you want it counted. |
| Order marked Completed | You are asked which bank account received the money; the paid invoice and payment are recorded on it. |
| Expense | An expense with a bank account is taken from the balance ("Expense Added") once it is Approved. Un-approving, changing the account or deleting it puts the money back. The price cannot be more than the balance. |
| Payroll | Marking slips Paid with the Bank Transfer method and Add amount to expenses = Yes creates one approved salary expense on the bank account you choose (only accounts in the company currency are listed), which lowers its balance. |
| Purchase → Vendor Payments | A vendor payment with a bank account is taken from the balance ("Payment Debited"). |
To pick an account on these forms a role needs Link Invoice Bank Account, Link Payment Bank Account or Link Expense Bank Account set to All.
Generating a statement
- Open the account.
- Click Generate Statement.
- Pick a date range (it defaults to roughly the last three months).
- Download the PDF statement.
Other actions
| Action | Notes |
|---|---|
| Edit | Update the account details or replace the logo. |
| Change status | Switch the account between Active and Inactive. |
| Delete | Remove the account (singly or in bulk). This also deletes all of its transactions. |
| View / Transactions | Open the account to see balance and transactions. |
The account list can be filtered by Type, Bank Name, Account Name, Account Type and Status.
Permissions
- View bank account — see accounts and generate statements.
- Add bank account — create accounts.
- Edit bank account — edit accounts and change status.
- Delete bank account — delete accounts.
- Add bank deposit / withdraw / transfer — record the respective transactions.
Tips
- Set an accurate Opening Balance when you add an account so the running balance reconciles with your real statements.
- Use a Cash type account to track petty cash alongside your real bank accounts.
- Link your payments, expenses, payroll and vendor payments to the right account so balances and statements stay accurate without manual transactions.
- Mark accounts you no longer use as Inactive rather than deleting them, to keep historical transactions intact. Inactive accounts are no longer offered on invoices, payments, expenses or transfers.