Bank Account
Bank accounts for a company as well as other parties like customers, suppliers, etc. can be created with Geer ERP. By doing this, you can accurately record each bank transaction for accounting purposes.
Bank accounts can be added in Geer ERP for Company. Any third party that transactions are made with, such as the supplier, the customer, etc. Then, as a Mode of Payment, the Bank Account can be selected under Payment Entries
Go to: to access your bank account.
Home > Accounting > Bank Statement > Bank Account
1. Prerequisites
Prior to creating and using a bank account, it is recommended that you first create the following:
- Bank
2. How to create a Bank Account
- Give your account a name.
- Connect the General Ledger account specified in the Chart of Accounts' "Bank Accounts" section.
- Select a Bank.
- Save.
2.1 Additional options when creating a Bank Account
- Is the Default Account: When enabled, all journal transactions will utilize this bank account by default.
- Is Company Account: If this bank account is a company account, enable it.
- To further categorize accounts in reports and other documents, an Account Type and Account Subtype can be established.
3. Features
3.1 Party Details
- Party Type: Set the owner of the account if it is not a company account. Customer, Employee, Member, Shareholder, Student, and Supplier are the alternatives that are available.
- Party: Select the specific Customer/Supplier, etc.
3.2 Account Details
Geer ERP can keep the following information regarding a bank account for reference:
- IBAN
- Bank Account No
- Branch Code
- SWIFT number
3.3 Address and Contact
- Address: Multiple branches of a bank may exist in the same area. You can set the address of the bank branch here.
- Contact: Here, a Contact Person link is available. You can include the contact information for the specific individual who banks often designate as their point of contact for corporate accounts.
- Website: You can add the bank's website here.
3.4 Integration Details
Last Integration Date: When a date is entered here and your bank enables Plaid Integration, the data will synchronize on that day. This will provide entries for bank transactions.