How to Work with Bank Accounts

Bank Accounts in RAAMP can be used across multiple entities. However, It is not recommended to do so. Using a single bank account for multiple entities can create issues with reconciliations and requires understanding which company should assume the bank charges.

The preferred method is to have 1 bank account for each entity. That means each bank account should be property specific.

1. Go to Accounting > accounts in the left nav bar or if you're in the accounting module you can simply click Accounts in the top ribbon:

   

2. Click New.

   

3. Select bank account as the type

4. Enter the Account Name, you can use the same Account Number as the COA, but we suggest a distinct name for the property or bank account.

   

5. Click Save. and a Prompt will ask you to add a subaccount. In RAAMP you must use subaccounts for a bank account. There is an explanation on the dialog that pops up.

   

6. Click Save.

7. Now click Property/Company Specific.

   

8. Select the property/Company to make it specific to. then save on the the row, then save on the dialog.

9. Congratulatons you added a bank account specifically for that Property/Company.