Managing Multiple Bank Accounts for Owner Contacts

  • Updated

This article serves as a guide on how to enter and manage multiple bank accounts for an owner contact who has several properties. It aims to simplify the process, ensuring accurate and efficient financial handling within the system. We'll cover how to add a new bank account through the Owner Contact screen and while editing or creating a ledger for a specific property. 

Key Information to Know 

  • On the Owner Contact screen, all bank accounts are displayed. 
  • A default bank account can be established for new ledgers. 
  • A new bank account can be added via the Edit or Create Ledger screens. 

Adding an Additional Bank Account via the Owner Contact Screen 

To add a new bank account through the Owner Contact screen, please follow these steps: 

  1. Navigate to the Owner Contact and click Add a Bank Account
  2. Fill in all the necessary bank details. 
  3. To set this new bank account as the default, click on Set as Default
  4. If you need to remove a bank account, click on the Minus Icon next to the relevant account. 

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Adding an Additional Bank Account in a Ledger 

Should you need to associate a new bank account with a specific property's ledger, here's how: 

  1. Go to the Trust Accounts Tab and click on Owner Ledger Balance
  2. Select All Ledgers and search for the needed ledger, then click on the ledger name. 
  3. Within the ledger details, click on Edit Ledger
  4. Locate the Bank Account drop-down box and select New Bank Account

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 By following these instructions, you can efficiently manage multiple bank accounts for an owner contact, ensuring each property's transactions are correctly allocated. Remember that setting a default bank account can help automate your workflows for new transactions and ledgers. 

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