Bank
The bank itself, such as NIC Asia or Nabil, as a master shared by its accounts. No ledger effect.
In detail
Bank is the master for the institution itself, NIC Asia, Nabil, Global IME, with its name, SWIFT code, website and a table of plugin settings if a bank feed is connected. It posts nothing and holds no balance. Its purpose is to be shared: every Bank Account you or a party holds at that bank links to the one Bank record, so the name is spelled once and reports can group accounts by bank. Create the Bank before the Bank Account, because the account form requires it. For a small business two or three records cover every account the company and its main suppliers use.
How to record it in BRAccount
- 01Go to Banking > Bank > New.
- 02Enter the Bank Name, for example NIC Asia, and its SWIFT Number if you receive foreign transfers.
- 03Save; the bank can now be picked on Bank Account records.
- 04Return here only to add a bank feed plugin or change the website.
When to use it
Create under Accounts > Bank before adding Bank Accounts.
Example from the demo books
Bank NIC Asia with its SWIFT code.