Bank account assignment
Record which ledger account is the client's bank account, so every imported bank line posts against the right account.
The problem it solves
Imported bank lines cannot be double-entered correctly until the bank account they belong to is known.
How it works
- Open the client's settings.
- Choose the ledger account for the bank.
- Imported bank lines post against it.
What your practice gets
- Correct double entry for bank lines.
- Set once per account.
- Reliable reconciliation.
Questions accountants ask
Why does this matter?
Each bank line needs a counter-entry in the right bank account.
Can a client have several bank accounts?
Yes. Each is assigned to its ledger account.
When do I set it?
When setting up the client or adding a bank account.
Related features
Features that work alongside bank account assignment.
Client ledgers list
List, search and open your clients' ledgers, including clients brought across from FEDIX, and set the client you are working on.
VideoChart of accounts
View, add, rename, reorder, merge and delete accounts, and apply tax return labels, for each client.
VideoSmall business entity setting
Mark whether the client is a small business entity, which affects depreciation treatment and reports.
Client and period switcher
A header bar to switch client and period, and edit client details, from anywhere in MYLEDGER.
Pick up where you left off
MYLEDGER opens the client you asked for from a link, or the last client you worked on.
Add and manage client ledgers
Create a client ledger directly in MYLEDGER, update its details and remove it when it is no longer needed.
VideoSee it working in your practice.
Start with one workflow and adopt more of the connected practice system over time. Your team reviews and approves the work.
14-day free trial. A payment method is required to start. Your paid subscription starts automatically when the 14 days end; cancel during the trial and you pay nothing. After the trial, a 6-month minimum term applies, then month-to-month. Commit to 12 months up front and the monthly price is 20% lower. See pricing.