Add a Bank Account

Create and configure bank or wallet accounts for payments, transfers, and financial reporting — with full control over account type, gateway, and chart mapping.

🔐 Access Control

• Only Admin users or staff with accounting permissions can add bank accounts
• From the Dashboard, use the side menu to navigate: Accounting → Banking → Account

🧭 Step-by-Step Bank Account Setup

1️⃣ Bank Type (Required)

• Choose between:
  • Bank — for traditional accounts
  • Wallet — for digital wallets or prepaid balances

2️⃣ Account (Required)

• Select the appropriate Chart of Account
• This links the bank account to your general ledger
• Examples: 1060 - Checking Account, 1065 - Petty Cash, 1510 - Inventory

3️⃣ Payment Gateway (Required)

• Choose how this account will be used for payments:
  • Bank Transfer
  • PayPal
  • Stripe
• This affects invoice and receipt workflows

4️⃣ Bank Details (Required)

Fill in the following fields:

• Bank Holder Name
• Bank Name
• Account Number
• Opening Balance
• Contact Number (with country code, e.g. +44)
• Bank Branch

5️⃣ SWIFT & Address (Required)

• SWIFT Code: For international transfers
• Bank Address: Full physical address of the bank

✅ Best Practices

• Use accurate Chart of Account codes for audit clarity
• Match payment gateway to your invoicing setup
• Include SWIFT and branch details for international compliance
• Use strong naming conventions (e.g. Main GBP Account, Stripe Wallet)
• Review bank accounts quarterly for reconciliation and cleanup