Create a savings account
Related information
Related topics
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As a best practice, set up an account at the top level. Then, restrict the account for use in specific entities.
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Reconcile an account at the same level in which it was created. Make sure to assign it to a unique general ledger account and a location.
Details tab
| Subscription |
Cash Management |
|---|---|
| User type |
Business Project Manager |
| Permissions |
Savings accounts: Add |
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Go to Cash Management > Setup > Accounts and select Add (circle) next to Savings.
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Create a unique account ID.
Learn best practices for Name and ID creation.
After you save, this field cannot be edited.
- Enter the Routing number.
- Enter address information.
- Select a unique GL account.
After you save, this field cannot be edited. How you assign GL accounts determines how and where an account can be used.
Use a unique GL account. You cannot save the account in the following situations:
- You select an account configured as the default Accounts Payable or default Accounts Receivable account. As a best practice, select a cash, cash equivalent, or credit card liability account.
- The GL account is assigned to another bank or credit card account.
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Set a reconciliation Match sequence.
Learn more about match sequences for reconciliation.
- Select any other accounts, for example the Default payables GL account.
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Select a Department ID and Location ID to default for the GL posting.
Depending on your company, a location might be required to enforce balancing of related journal entries. Learn more about dimension settings in the General Ledger.
After you save, this field cannot be edited.
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To reconcile the account with an import file or bank feed, select a rule set in the Applied rule set field.
Learn more about rules and rule sets.
- Set the Banking cloud time zone to determine the time stamp for transactions generated from creation rules and for incoming bank feed transactions.
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Select Save.
Restrictions tab
Restrict an account to desired entities or locations to ensure that the correct bank account is used.
The ability to restrict bank accounts by entity is a configuration option that your Sage Intacct administrator can turn on in a multi-entity shared environment.
Banking cloud tab
If your company is subscribed to Sage Cloud Services and enabled for bank feeds, you can connect your account to your online bank to receive a bank feed. After you connect, match bank transactions to Intacct transactions for reconciliation.
From the Banking cloud tab, you can view bank transactions and even match transactions for reconciliation if you have the proper permissions. You can also create transactions from bank transactions.
Learn how to connect to your online bank and receive a bank feed
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Have you saved this account?
You can only see this tab after you save the account.
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Is your company subscribed to Sage Cloud Services and enabled for bank feeds?
In order to view or edit the Banking cloud tab, your company must be subscribed to Sage Cloud Services and enabled for bank feeds.
After you save, from the account list find the account and select Edit at the end of the row. Then, go to the Banking cloud tab.
After you save, from the account list, select Edit next to the account. Then, go to the Banking cloud tab.
