Add, edit or delete bank accounts

Setting up new bank accounts in Sage One is quick and easy. You can set up multiple bank accounts to manage your business cash flow. For example, you may want to set up separate accounts for your petty cash and company credit card.

If you trade with companies based overseas, you can process foreign currency transactions. However, when recording bank transactions, the value on the bank activity always appears in your base currency. It’s not possible to create foreign currency bank accounts.

To add a bank account

  • 1. Go to the Banking tab, then click Add a new account.
  • 2. Complete the following information:
Account Type * Choose the bank account type you want to create. For example, current, credit card.
Account Name * Enter the name of the account as you want it to appear in the bank account list.
Sort Code If the account type is a current, savings or loan account > enter the bank sort code, excluding dashes.
Account Number The bank account number for this account.
Last 4 digits of your credit card number If the account type is a credit card, enter the last 4 digits for this account.
Add an opening balance If you want to enter an opening balance for the account, click Add an opening balance and enter the opening balance and date.

Note: Before entering an opening balance, you should set your Accounts Start Date.
Balance If the bank account has a positive opening balance, enter the value here.
Overdrawn Balance If the bank account has a negative opening balance, enter the value here.
  • 3. Click Save.

Alternatively, you can click Save & Connect Bank, to save the new bank account and set up bank feeds.

Your new bank account is now ready to use and a nominal code is automatically assigned to the new bank account in the chart of accounts.

If necessary, you can enter additional information, such as contact details and address in the bank record.

To edit a bank account

  • 1. Go to the Banking tab, then click relevant bank account link.
  • 2. Amend the details as required, then click Save.

You can’t amend the account type of the default current or cash accounts. Once you post transactions to an account, you also can’t change the ledger account.

To delete a bank account

  • 1. Go to the Banking tab.
  • 2. Locate the relevant account, then click Delete.
  • 3. When prompted, click OK.

You can’t delete the default current or cash accounts. You also can’t delete a bank account once you’ve used it to process and reconcile transactions. Instead, to prevent any confusion, we suggest amending the account name to Do not use.

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