Create new financial account

Financial accounts are general ledger accounts where cash transactions are recorded. In most cases this corresponds to a bank account, but it can also be created to register petty cash, credit cards, or PayPal. It’s a good practice to create a separate financial account for each bank account, credit card or other cash account you have in your business. This allows you to easily reconcile the balance in your accounting with the actual balance.

To create a new financial account go to “Financial” in the main menu. You’re now directed to the page that lists all your financial accounts. On the top right click “Add financial account”.

Fill in all the details of your account. The title is an easy to remember reference to your account, e.g. the name of the bank. If you have multiple bank accounts with the same bank you can also add the type of account in the title field. E.g. “MyBank – Current Account” and “MyBank – Savings Account”. In the account number enter the account number. This can be the bank account number, the IBAN number or a credit card number. It’s a unique reference to identify your financial account.

Select you bank from the bank field. If your bank is not present select the bottom “Other” option. Banks listed in the dropdown support automatic import of bank transaction. Don’t worry if your bank is not listed. You can still process all your transactions manually. We’re also regularly adding new supported banks. You’ll be notified once your bank becomes available.

Your account is now ready for use.