Setting up bank accounts in NexerIQ

Setting up bank accounts in NexerIQ

Why add your bank accounts

Adding your bank accounts to NexerIQ lets you track where money comes in and goes out, import statements, and reconcile — so your books always match your real-world balances. Each bank account is linked to a ledger account in your books, keeping the two in step. Don't worry if accounting isn't your background; NexerIQ guides you through it.

Adding a bank account

  1. Open Banking → Bank Accounts and select Create Bank Account.
  2. Enter the Account Name (for example "Business current account") and the Bank Name.
  3. Add the Account Number and choose the Account Type.
  4. Pick the Currency and the GL Account the bank account posts to.
  5. Fill in any routing details your country uses — BSB, Routing Number, IBAN, or Swift Code. Leave the ones you don't need blank.
  6. Select Create.

The default account

Tick Default when creating an account, or open an account later and choose Set as Default. The default account is the one NexerIQ reaches for first when you record payments, saving you a step. You can change which account is the default whenever you like — only one can be the default at a time.

Seeing your balance

Each account shows a Current Balance, along with the Last Reconciled date and balance. This gives you an at-a-glance feel for your cash position without opening your banking app.

Closing an account

No longer using an account? Open it and choose Deactivate Account rather than deleting it, so its statements and past reconciliations stay intact for your records. A deactivated account shows as Inactive in the list.

What's next

With an account set up, open it to Import Statement and Start Reconciliation — see the Reconciliation articles.

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