Managing bank accounts efficiently is crucial for maintaining accurate financial records and ensuring smooth financial operations. In WorkBook, bank accounts are managed through the Holding Accounts section, in the Settings module. This guide will walk you through the steps to add and configure a new bank account, ensuring all necessary details are accurately recorded and the account is ready for use.
To setup holding accounts, you need to have access to settings that is set up under employee cross-company access, and be an advanced user with the appropriate access rights.
Please contact your WorkBook administrator if you can’t see this menu. System Administrators have access to this menu by default.
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ADDING HOLDING ACCOUNTS
Bank accounts are handled in the settings module> finance sub menu > holding accounts
First, make sure you’re in the correct company (1) > then click the add new holding account button (2)
In the add holding account pop-up, complete the following details:
Code - this is the code used to identify the account, your other codes are the bank name and company name. I.e. NAB BAN
Description - the name of the bank account
Account - this is the relevant ledger account you want attached to the bank account you are setting up.
Currency - The currency of the bank account. (Once set, this can’t be changed)
Click ok
This will add a new line where the rest of the details need to be completed:
Bank branch no.
Bank account no.
Reconcile - ✅
Active - ✅
Swift/BIC
IBAN - if required
Bank code
Bank reference
Use in creditor invoice (voucher) management ✅
Once completed, the bank account is now ready for use.
Depending on the bank account, you might need to set up a new bank reconciliation upload specification. Instructions to do that are here.