Adding a Bank or Credit Card Account
In this week's blog we will be helping you to add a new bank account – in order to add a bank account you will need the standard or adviser role. Depending on the bank and type of account, you may be able to set up automatic bank feeds. You can also add a bank account with a different currency if your pricing plan includes multicurrency, and you have added the foreign currency to your organisation.
To add a bank or credit card account, either:
In the Accounting menu, select Bank Accounts
In the Accounting menu, select Advanced, the click Chart of accounts. Add the account from the chart of accounts if you'd like to enter a unique code to identify the account.
Click Add Bank Account
Start Typing your banks name:
If you can select the bank name from the list, a bank feed is available for your account.
If you are connecting a direct feed, you will need to check which bank name you need to use.
If the name of your bank doesn't appear in the list, click Add it anyway. This means that there are currently no feeds available for this bank and you will need to manually import bank statements into the account.
Enter a name to identify it in Xero – this name will be used in reports and will display on the dashboard. (Each bank or credit card name must be different)
Select your account type:
If you're adding a bank account, select the type of account you have with your bank.
If your account type isn't shown, select Other – Bank feeds are not yet available for this account type.
If you are adding a credit card account, select Credit Card as the account type.
Enter your account number:
If you are adding a bank account, enter up to 20 digits.
If you are adding a credit card account, enter the last 4 digits
Select the currency for the account (if multi-currency is set up)
Click Save or Continue.
Next week we will be showing you how to import a bank statement – if your account does not have direct feeds.