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How To: Create a New Bank Account

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WARNING icon
WARNING: Do not rename or reuse existing bank accounts or change the currency of an existing bank account.


There are two steps to creating your bank account; creating the bank nominal and then creating the bank account and linking it to the bank nominal.

  1. Create a nominal account as described in How To: Create Nominal Accounts ensuring that the System Type is set to bank control account.
  2. Open a System Data screen (show me how).
  3. Open the [ Bank Accounts ] section.
  4. Press Alt+E or click the green triangle icon is the buttonbar's EDIT button to enter edit mode.
  5. Click the NEW ITEM button has an icon that shows two sheets of paper (identified by having the top right corner folded down), arranged diagonally on the icon from top left to bottom right   or press F3 to add a new item.
  6. Enter the following information. Those field names below that are in bold are compulsory:
    • Account Name: the name / description for the bank account to be held in Khaos Control.
    • Credit Acc: check this box if setting up a company credit card account; affects the Balance Sheet, with the balance being shown as a liability.
    • Currency: choose a currency by pressing F4.
    • BNominal: press F4 to get a list of nominal accounts and select the newly created nominal code (from Step 1 above).
    • Account Number: Allows the user to record the bank account number.
    • Sort Code: Allows the user to record the sort code.
    • Debt Factor %: used in conjunction with Cash Flow; only posts this percentage value into the Cash Flow statement.
    • HQ Only: if this is ticked users will need HQ level permission to open the bank account in the accounts screen.
    • CT Accnt: the Card Transaction Account number (between 1 and 20) causing any transactions for that bank account to go through that specific credit card integration account.
      Notes:
      • If none is specified then the default of 0 will be used, unless there is a separate CT account set against that currency, or the user changes it manually on the sales order. If both a currency and bank CT account number exist then the one against the bank account will override the one against the currency.
      • If using PayPal then this must be setup so that PayPal payments go into the correct bank account.
  7. Press Ctrl+S or click the disk icon is the button bar's SAVE button    to save the bank account.

Notes:

  • The system will not allow the currency of a bank account to be changed if there are any existing payments recorded against the bank account.
  • If you wish specific types of payments to go into specific bank accounts, these will need to be mapped in the [ System Data | Accounts | Payment Types ] tab. For example, if you had set up a "bank account" specifically for credit card payments.

See Also

Visit KhaosWikiX at http://wiki.keystonesupport.net/wiki_kcx/ to see the following:
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