Set Up a New Bank Account

Overview  

There must be at least one bank account set up in order for the system to work correctly and at least one bank account per currency, for example Sterling account and Euro account. This video shows you how to do this:
A step by step guide can be found below the video.

Steps 

  1. In Accounts, go to Nominal Accounts Setup.
  2. Enter Edit Mode.
  3. Use the New button to add a new nominal account.
  4. Enter a Nominal Code.
  5. Add a Description corresponding to the bank account you are setting up.
  6. Set the Account Type as Bank Control Account.
  7. Set the System Type as Company.
  8. Save the screen.
  9. Go to System Setup and open System Data.
  10. Double click on the Bank Accounts line to open the table.
  11. Enter Edit mode.
  12. Use the New button to add a new bank account.
  13. Enter the name of the Bank Account.
  14. Set the account currency using the drop down.
  15. Select the nominal created in steps 1-8 from the Bnominal drop down.
  16. Set Account Number, Sort Code and Bank Name (optional).
  17. Save the screen.

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