Understanding Banks and Bank Accounts

Configure banks and associate bank accounts for check printing in BindHQ

Applies to:

  • Accounting
  • Administrator
Last Updated: September 2020

This article explains how Users with the appropriate permissions can configure bank details and associate bank accounts for the banks the organization uses.

BindHQ pulls information from the list of banks and their associated bank accounts when generating checks from the system.

There are four parts to this article


Configuring a Bank

  1. Navigate to the Accounting tab and ensure the General section is selected.
  2. On the left, select the Bank subsection, then click Browse & Configure Banks.


    The Banks page opens and displays any banks configured in the system.
  3. In the top right corner, click New Bank.


    The New Bank page opens.
  4. Fill in the Details and Configuration sections.
  5. Click Create Bank.

  6. BindHQ automatically verifies the routing number to ensure accuracy, then creates the bank record in the system. The bank name and address is printed on checks processed from associated accounts.
  7. Banks can be updated but cannot be deleted from the system.


Editing a Bank

Update bank records as needed.

  1. Navigate to the Accounting tab and ensure the General section is selected.
  2. On the left, select the Bank subsection, then click Browse & Configure bank accounts.
    The Banks page opens and displays any banks configured in the system.
  3. To the far right of the bank account you want to update, click the ellipsis icon, then select Edit Bank.


    The Edit Bank page opens and all the Details and Configuration fields are editable.
  4. Make any updates needed to the account information, then click Update Bank.
    The bank record is updated.


Adding a Bank Account

Configure a bank account in the General Ledger.

  1. Navigate to the Accounting tab and ensure the General section is selected.
  2. On the left, select the G/L Account Admin subsection, then click Add a new account.
    The Create Account page opens.
  3. Fill in the account details:

    Number - Enter the account number.
    Name (Required) - Enter the name of the account (for example, Undeposited Funds).
    Description - Enter an internal description of the account.
    Type (Required) - Use the drop-down to select Bank.
    Divisions - Select an applicable division from the list.
    Parent Account - Use the drop-down to select a parent account if applicable.
  4. After filling in the account details, click Create Account.


    The account is added.

 


Editing a Bank Account

  1. Navigate to the Accounting tab and ensure the General section is selected along the top of the page.
  2. On the left, select the G/L Account Admin subsection, then click Browse & view accounts.

    The Accounts page opens and displays all the accounts configured in BindHQ. To filter the accounts, click Add Filter and filter by account name or type.
  3. To the far right of the account you want to edit, click the ellipsis icon, then select Edit Account.


    The Edit Account page opens.
  4. Update the bank account as needed, then click Update Account.

 


Configuring a Bank Account

After adding a bank account, users can configure additional details like check printing and payer address. Users can also associate a bank accounts with a bank.

  1. Navigate to the Accounting tab and ensure the General section is selected along the top of the page.
  2. On the left, select the Bank subsection, then click Browse & configure bank accounts.

    The Bank Accounts page opens.
  3. To the far right of the account you want to edit, click the ellipsis icon, then select Edit Account.

  4. To associate the bank account with a bank, use the Bank drop-down to select a bank.
  5. Update the account details as needed, and add the check printing and payer address details if applicable.
  6. Click Update Bank Account Configuration.


    The bank account is updated with the new details.