AccountsPrep - Bank Accounts Overview

An overview of Bank Accounts in AccountsPrep.

AutoEntry Support Team avatar
Written by AutoEntry Support Team
Updated over a week ago


This article will provide a brief overview of Bank Accounts within AccountsPrep, their core elements, and best practices when used in the software.

Applies To

  • AccountsPrep integrated companies.


Bank Accounts in AccountsPrep have three core elements to them:

  1. Bank statement data entered via bank statement batches. These allow you to import/enter bank statement data from the client's bank accounts.

  2. Cheque listings entered via cheque batches. When posted, these are considered outstanding cheques until they are matched with a payment in the bank statement data.

  3. Deposit/lodgement listings entered via deposit batches. When posted, these are considered outstanding deposits until they are matched with a receipt in the bank statement data.

It is definitely fair to say, the order of importance (in terms of regular use) is how they appear 1 to 3 above.

At minimum, every bank account requires bank statement batches to be posted in order to get receipts and payment data into the account.

How you interact with bank accounts thereafter is entirely up to your own practices and the client at hand:

  • Some users may use cheque batches and deposit batches just for posting outstanding cheques/deposits at year end only.

  • Other users upload all cheques for the year using cheque batches, then let the system's matching help reconcile for outstanding cheques.

  • Others (although less common) do this for deposit listings also.

Additional Information

Important things you NEED to know about Bank Accounts:

  • It is essential that you get the opening balances correct to begin with!

  • If you have two or more accounts set up as bank accounts and transfers happen between them, you will need to understand how we handle bank transfers - see here for more information on this.

  • You cannot make journal entries to Bank Accounts.

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