Creating New Account (Bank and Credit Card)

Cash and Bank Transfer are the default Payment accounts on Akaunting. Every invoice, bill payment, or transaction is recorded as Cash or Bank transfer.

To create a new Payment Account:

• Bank Account
• Credit Card Account

Bank Account

• Go to Banking on the Navigation Menu.
• Select Accounts from the dropdown options.
• Click on New Account at the top right corner of the Accounts page.

• Define the Account type – Bank

• Enter the required details – General (Name, Account Number, Currency, and Starting Balance)
• Use the Default Account Toggle Button to set the New Account as Default.
• Enter the Bank Details: Bank Name, Phone Number and Address

• Then, Save.

For Credit Card Account:

Use the credit card option for a negative opening balance

• Define the Account type – Credit Card

• Enter the required details – Name, Account Number, Currency, and Starting Balance (unlike the Bank Account type, you can have a negative starting balance).
• Enter the Bank Details: Bank Name, Phone Number and Address

• Then, Save.

Please note that when creating a Credit Card account, you cannot set it as Default Account.

Check out: Adding Payment to Accounts