Bank Accounts and Banking

Bank Accounts
  • Bank Accounts must be created from the Bank Accounts panel before they can be used in Payment Methods / Payments / Expenses / Transfers
  • Bank Accounts only require a name - all other values associated with them are calculated as data is added to the system.
  • Attempts to delete a Bank Account which has a Payment Method set up to affect it will result in an error - the affecting Payment Method must be removed first
  • A "Bank Account" is named as such as that's it's primary function and makes it's purpose clear- however it can be used to represent any currency transfer destination.  For example, a Bank Account could be made to represent an employee's wages, and transfers could be made from your business account to the wage account in KoalaBrain so that those values are tracked.  Another example might be creating a Bank Account object to represent sales tax payments made to the government at the end of each tax year, so that those values are tracked.
  • Before any action can be taken on the Banking page, at least one Bank Account needs to have been created, and must be selected using the Change Bank Account button on opening the Banking page
  • The current balance of the selected Bank Account is displayed once a Bank Account is selected
  • The current balance is defined by the transactions going in and out of it, and whether those transactions use a Payment Method which affects the selected Bank Account
  • Bank Adjustments can be created to initialise or modify the bank account balance
  • The available Reasons for a Bank Adjustment can be modified using Selectables 
  • Transfers To will show a list of all transfers into the selected Bank Account
  • Transfers From will should a list of all transfers out of the selected Bank Account, and allow you to create a new Transfer - see the documentation for transfers for more info.
  • Negative Bank Adjustments are allowed - to enter a negative adjustment, enter the adjustment Amount followed by the - key