In this article, we will be working on how to create a new bank account and how to close a bank account.

Creating A New Bank Account

To start, head to Maintenance > Bank Accounts. 

1. Select the type of Bank Account that you would like to set up - head to the tab if it’s an Office Account, Client, Deposit or Bank Accounts. 
2. Once we select the tab, click New Account. 
3. On the New Accounts window, let’s select the bank from the drop-down menu. Then, select the Account Type. Type in the Account Name and the Account Number. Now, if you wish to set it up to reconcile, tick its checkbox. 
4. Using the calendar prompt, set the date for Date Opened.
5. Review the details entered and once done, let’s click OK.

Closing an Old Bank Account

Now you also have the option to close-down old bank accounts with 0 current balances and are currently set as ‘closed’ at the bank. To do this:

1. Select the bank account that you would like to close, then click Edit Account. 
2. Enter the closing date using the calendar prompt.
3. That will then close the said bank account once we click OK. 

Creating a Deposit Account

To continue, you also have the option to create a new Deposit Account:

1. Head to the Deposit Accounts tab and click New Account.  
2. On the New Accounts window, let’s select the bank from the drop-down menu.
3.  Then, enter the Matter Code—this will be the matter code for the deposit account that we will set up on the latter fields.  
4. Once entered, it will automatically pick up the Account name. Next, let’s type in the Deposit number and once done, click OK. 

With this, you’ll now be able to enter a deposit, set entries for receipts and payments on the client setup.

Please watch this video for demonstration: