How to Add New Bank Information

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. You can also add an account through the Accounting app. Both methods are outlined below.

Add New Bank Information During Property Creation

1. Navigate to Properties from the left side menu. Click the Add Property button on the new screen.
2. From this Add Property workflow, scroll down to the Operating Account field.
3. Click on the dropdown menu and select Add New.
   You can also choose to associate an existing account by clicking on the Operating Account dropdown menu.  
   
4. Submit the required banking 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, you can still access and manage all of your bank accounts from the accounting module.
   

Add New Bank Information from Accounting App

1. Navigate to Accounting from the left side menu. Click Bank Account on the top tab. 

2. Click the Add Bank Account button.

3. Input the all the requested account information, which will include

   • Balance

   • Account Type

   • Balance Start Date

   • Country

   • Currency

   • Description

4. Click Save to create your new bank 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.