How to Create a Bank Account of your Company

How to Create a Bank Account of your Company

How to Create a Bank Account of your Company Helps you create a bank account for your company Dhruv Saraiya

Sometimes you may need to create a new Bank Account for one of your branches, in this article we will walk through the steps for a new Bank Account Creation.

  • Create Bank if not already created. ( we will need a Bank for Bank Account creation )
  • Go to Bank List ( this will show you available banks )
  • Click on NEW to create new Bank
  • Enter name of the Bank here, Data Import Configuration is used in Bank Reco. we will not worry about that now.
  • Now we will go to Bank Account List, and create new Bank Account
  • For each Bank Account we need a ledger account associated with it.
  • Now we will create new GL Account for this Bank Account, for each GL Account related to a Bank Account we need a parent GL Account, which will be created during initial setup of website.
  • Select parent account which suits you most ( loan account, normal balances etc.)
  • Select the Currency for the Bank Account here.
  • Select this GL Account type as Bank, for using it in a Bank Account.
  • Link this GL Account in Bank Account
  • If you are creating Bank Account for your company, then check the Is Company Account
  • Fill Bank Account Number and IFSC Code.
  • Now your Bank Account is created, but if you want to use it as one of your branch's account then need to link it with address too.
  • For that we will go to Address List
  • Now there will be many addresses, for only viewing addresses of your branch Filter as per below.
  • Select the Branch Address with which you want to link this Bank Account
  • Add below entry in Bank Details section

 

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