How to add and manage bank accounts?

You can use Bank Accounts for storing and organizing your bank statements on Envoice. Bank Accounts can also be displayed on your sales invoices. Bank Accounts are also used to prioritise preferences for extracting bank account numbers from your expenses and to create payment files for banks.

Some accounting software use bank accounts to identify transactions paid for in a specific way. For this, it may be necessary to link Payment Methods to specific Bank Accounts

Bank Accounts can also be imported from specific integrated Accounting Software. 

You cannot change the account type (for example, Credit Card to Other), or delete an account after a transaction is created. This kind of bank account can be only archived. Bank accounts imported from your accounting software cannot be deleted or archived.

To add a bank account

1. Go to Bank
2. Click Add new
3. Complete the following information:
   • Bank. Enter the name of the bank.
   • Name. Enter a name for the account to identify it in Envoice. This name is used in reports, payment actions and displays on the dashboard.
   • Account Type. Select the bank account type; Bank, Credit Card, or Other. You can’t change the type of a bank account once it’s set up.
   • Account Number. Optionally, enter the account number. Available only if the selected Account Type is Bank.
   • Credit Card Number. This field displays only if the selected Account Type is Credit Card. Optionally, enter the last four digits of the credit card number.
   • Currency. Select the currency for the account. You can't change the currency of a bank account once it's set up.
   • BIC/SWIFT. Optional. Only available if the selected Account Type is Bank.
   • Show on sales invoices. Optionally, if the bank account should be presented on your sales invoices. This is available only if the Account Type is Bank.
   • Priority. Optionally, select a priority for the bank account for Extract service. While processing the expenses, the bank with higher priority is extracted if available on the expense.
4. Click Save

Managing bank accounts

After adding a bank account, you may want to edit the details about it such as bank name or account number. You may also want to review reconciliation details or delete an erroneous account.

Also, you cannot completely delete a bank account after you have used it to process transactions. When a bank account that has been used to process transactions is deleted, it will be marked as archived and be still visible in your bank accounts list. Bank accounts imported from your accounting software cannot be deleted or archived.

To edit or delete a bank account

1. Go to Banking:
• To delete an account, click Delete under the account name and then click OK to confirm the deletion. You cannot delete bank accounts with posted transactions (which includes opening balances); therefore, the Delete option will archive the bank account. Bank accounts imported from your accounting software cannot be deleted or archived.
• To edit an account, click it to open the Bank Account page, click Edit account details and then continue to step 2.
2. Edit the account details as needed.
3. Click Save.

To delete or archive a bank account

1. Go to Banking.
2. Select the bank account you want to delete.
3. Click Delete.