Bank Account

A Bank Account is one actual account at a Bank, with its number, branch and account holder. Ticked Is Company Account it is yours and must link to a GL account of type Bank, which is where its money is posted; unticked it belongs to a customer or supplier and is used for printing payment details and Payment Orders. The record itself posts nothing; the GL account does. Payment Entries and Bank Entries pick the company Bank Account so the bank reconciliation knows which statement a cleared item belongs to, and Bank Statement Import and the Bank Reconciliation Tool both start by choosing it. One GL account per bank account keeps the Bank Reconciliation Statement meaningful.

1. 01Go to Banking > Bank Account > New.
2. 02Enter the Account Name, pick the Bank and tick Is Company Account.
3. 03Pick the GL Account of type Bank, for example Bank Account - YFF, and the Bank Account Type.
4. 04Enter the Bank Account No, branch and IBAN if any, then Save.
5. 05On a Payment Entry pick this Bank Account; the Paid To or Paid From account fills from it.

Create under Accounts > Bank Account; tick Is Company Account for your own and pick it on Payment Entries.

YFF Current Account at NIC Asia, mapped to the company bank GL account; cash and bank together hold Rs 25,68,160.