Adding a second bank account

Question asked by Helen Stephens 9 years ago

Hi,

I have a couple of queries in regards to adding an additional bank account and its activity, and hope you will be able to assist?

We have set up a new bank account for a separate division of our company and would like to assign purchase invoices and sales for this particular division - plus as we have a couple of employees working directly in this department and we would like their salary entries included. Please can you advise the process to add a new bank account; and how we assign purchase invoices against this particular division (would I need to set up a project/cost centre?) - and if this works the same for payroll as the employee's details are entered as a supplier.

Also will this enable us to run a P&L/balance sheet for each division?

With many thanks in advance of your assistance, Helen

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Hi Helen,

Apologies for the delayed response.

The bank account can just be added in the normal way by heading to Money > Bank Accounts > Add Account and fill in the required fields.

I think more importantly is setting up a project for the division. First, you must toggle on the feature by going to Settings > Configure System > Toggle Features and enable projects and then head to Tools > Projects > Create Projects. With project invoices, you can apply a different logo and name on the invoice PDF. They will just need to make sure to add the appropriate project and bank account when creating the invoice. You can also filter the P&L by project but is not possible for the balance sheet.

I hope this has been helpful!

Thanks, Tommy

Best answer
8 years ago

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