Bank accounts

A bank account in Axon Suite holds the details of an account at your bank, or of a petty cash box, and ties it to the ledger account its money moves through. Payments in and out name a bank account, so the ledger knows which account to debit or credit.

Example

A shop keeps a current account at its bank and a petty cash box at the till. It creates two posting accounts, 1110 Bank – current and 1150 Petty cash, both with Bank/cash account on, then one bank account of type Current account and one of type Petty cash, each on its own ledger account.

Add a bank account

First make sure the chart has a posting account for it, with Bank/cash account switched on. See Add an account.

1. Go to Finance ‣ Banking ‣ Bank accounts and click New bank account.
2. On the General tab, fill in Bank name and Account number, and pick the Account type.
3. Fill in the Branch, IBAN, SWIFT code and Account holder name as your bank gives them.
4. On the Configuration tab, pick the Account: the ledger account this bank account posts through.
5. Pick the Currency the account is held in.
6. Enter the Opening balance and the As of date it was taken on.
7. Click Save.

The bank account joins the list with its Balance. It belongs to the same subsidiary as the ledger account you picked.

Field	What it sets
Account type	Current account, Savings account, Fixed deposit or Petty cash.
Account	The ledger account this bank account posts through. Each ledger account carries one bank account at most.
Opening balance	What the account held on the As of date. It is recorded on the bank account only; it posts nothing to the ledger.

Note

The Balance shown is the Opening balance plus every entry ever posted to the ledger account. If you also post the opening balance to the ledger by journal entry, enter 0 here, or the balance counts it twice.

Archive a bank account

Open the bank account and click Archive. It is no longer offered on new payments, and its history stays. Click Restore to bring it back.

Messages you may meet

Message	What to do
Another bank account already uses that account number.	Check the Account number; open the existing bank account if it is the same one.
A bank account already exists for this GL account.	Pick another ledger account in Account, or use the existing bank account.
The bank account is not active in this document’s subsidiary.	Pick a bank account of the document’s subsidiary.