How Do I Create A Bank Account?

How Do I Create A Bank Account?

Introduction

In this knowledge base article, we'll guide you through the essential steps of setting up bank accounts within the platform. Bank accounts serve as pivotal components for various financial transactions, including issuing invoices, recording customer payments, and managing Trust / Client Account) transactions. It's imperative to establish bank accounts before engaging in these activities, ensuring seamless and accurate financial management within Matters.Cloud.

The following are the required steps:

Create A Bank Account

Step 1: Select from one of the following menu items:

Setup > Invoices > Bank accounts
or
Setup > Client account > Bank accounts

Step 2: Create New Bank Account

Create a new Bank account by clicking on New bank account.



Step 3: Enter Bank Account Details
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Enter in the following information to create a new Bank account:

Field

Notes

Country

The country the bank account is held in

Name

The name of the bank account

Bank name
The name of the banking institution

Account number

The bank account number

Sort code / Routing number

The sort code or routing number for the bank account

IBAN

The International Bank Account Number (IBAN). (optional)

BIC / SWIFT

The Bank Identifier Code (BIC) or SWIFT code. (optional)

Currency
The currency of the bank account
Code
Code field required for certain countries
Remittance text
Add any additional remittance information to be displayed on an invoice. 
Display only remittance text
Set to True if you wish to display only the text shown in the Remittance text field on the invoice

Type

Select from one of the following options:

Regular = Operational account
Trust = Trust (or Client account)

Step 4: Submit
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Click the Submit button located in the bottom right-hand corner of the form.

The Bank accounts page will then be displayed on screen.