Set up default bank account

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    The default bank account is the main account for the entry of receipts and payments.  You may however wish to set up a new bank account for the Job and use this as the insolvent entity’s main trading account.

    Setting up a default bank account

    1.    To set up a new bank account click Financials > Accounts.

    2.    Click Add Account.

    3.    Select Bank from the Account Type drop-down box.


    4.    Fill in the following details as shown below.


    Bank set up 3.png


    There is no selection on the Advanced tab for Default Bank Account if a default bank account has already been selected.

    Editing bank account details.

    1.    Click Financials > Accounts.

    2.    Right-click the Cash at Bank account and select Edit Cash at Bank.  The Cash at Bank window appears


    You will note that this view is specific to an account which is nominated as a Bank Account.

    3.    In the Account Name field and enter “Liquidation Current Account” in the Account Name field.


    4.    Click on the Bank Details tab and enter the following details:


    If you don’t provide all the information requested by the system, you will receive a warning similar to that shown below when you exit the Edit Bank Account (the actual warnings will depend on the missing information).


    5.    Click the Advanced tab and confirm the 'Default Bank Account' checkbox is selected.


    6.    Click [OK] to Save.