As you probably know, a bank account is an asset account used to hold money in a bank, credit union or other financial institution. There are a variety of bank account subtypes often utilized in property management accounting including escrow accounts, operating accounts, trust accounts or reserve accounts.

If you manage multiple properties, it is highly likely that you already interact with many bank accounts every day to handle your financials for your properties, rental owners, and even your personal business. In fact, for many property managers, keeping track of money flowing into and out of various accounts is a core component of their daily job. 

Migrating your accounting to ManageCasa can help you keep all of your accounts in order without the stress. The easiest way to add a bank account is to input its information while you are creating a property, as the account will be automatically associated with the correct property. 

From the Create Property flow you can add a new bank account or associate an existing account by clicking on the Operating Account dropdown menu.  

Submit the required information and your account will be associated with the property you have created.

If you weren’t able to enter the balance amount when you added a bank account with your property in the setup process, don’t worry. You can access and manage all of your bank accounts from the accounting module.

Here’s a brief walkthrough of how to manage your bank accounts from inside your accounting portal.

Add a Bank Account:

  1. Navigate to Accounting → Bank Account

2.   Click the “Add Bank Account” button in the top right corner

3. Input the following account information:

  • Bank Account Name
  • Balance
  • Account Type
  • Balance Start Date
  • Country
  • Currency
  • Description

Don’t forget to click “SAVE” before closing to save your new account. You can click into your bank account at any time to get a snapshot view of the account information and any properties associated with the account.

Edit a Bank Account:

You can click on the pencil icon on the right side of the bank account list to edit information related to a specific bank account.

You’ll be able to update any of the fields you input when first creating your account. Don’t forget to click save before closing.

Delete a Bank Account:

Simply click the trashcan icon on the right side of the bank account list to delete a specific bank account

You will be prompted to confirm your decision before deleting your account.

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