How To Add A Bank Account Or Credit Card
What you need to know:
When you create a business, AgExpert Accounting automatically adds a default set of accounts to your Chart of Accounts. You can add additional bank accounts and credit cards at any time after the initial setup. These accounts can be organized into groups or maintained individually, and they must be configured before you can import transactions, connect to online banking, or complete account reconciliations.
Bank accounts are typically set up in the Assets section of your Chart of Accounts and may include chequing accounts, savings accounts, operating accounts, and lines of credit. Credit cards are generally set up in the Liabilities section and can include traditional credit cards, store cards, and charge cards.
What you need to do:
Gather the account name and opening balance information.
Select an account number not currently being used in the appropriate section.
How to (Step by Step):
Click Chart of Accounts.
Select the appropriate account category:
a) Assets for a bank account
b) Liability for a credit card
Click Add account or group and select Add account.
Click Add new group.
Note: You can use the Group drop-down to add the new account to an existing account.
Change the Type to Bank account or Credit card.
Enter account Name.
Enter Account number.
If you are in the first fiscal year of business in AgExpert Accounting, you can enter an Opening balance.
You have the option to enter a Default description for the account, which will also show on reports.
If creating a Bank account, you have the option to enter a Next cheque number. This number will appear on cheque stubs and will increase with each cheque.
Click Save.
References and Additional Resources
Still have questions? Contact support
Contact us at 1-800-667-7893 or email support@fccagexpert.ca if you require additional support. You can find other help options under the Question Mark Icon in the top right of AgExpert Accounting at any time.