How To: Create a New 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.
- Create a nominal account as described in How To: Create Nominal Accounts ensuring that the System Type is set to bank control account.
- Open a System Data screen .
- Open the [ Bank Accounts ] section.
- Press to enter edit mode. + or click
- Click or press to add a new item.
- 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 .
- BNominal: press 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. Note: 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.
- Press to save the bank account. + or click
- 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.