This article describes how to create a new bank account in KashFlow.
Creating the Account
To create a new bank account go to Bank > Add New Account and enter in the following;
Basic Information
- Name – Give this account a unique identifying name, i.e. “RBS Business Current Account”
- Account Code – This is the code that will be used on your chart of accounts, We will auto generate this for you, your accountant may give you a different code to enter here though
- Icon – You can select your bank provider from list for visual purposes on the bank page
Advanced Options
- Start Date – the starting date should be before the first transaction, i.e. 01/01/1970
- Start Balance – This should be 0.00. If this account has transactions associated to it you will either have to input all these transactions using the importer, manually by adding transactions (bank transactions, invoice payments, purchase payments) or by using the opening balance journal.
- Reconcile Date – This will be the day that you want to stop transactions being included form on a reconciliation. You should normally set this to the day before your starting date
Once done, click Create Account.