HOME / COMMUNITY Switch to knowledge base

Setting up your bank accounts


#1

Introduction

Your QuickFile account will come preloaded with a basic set of bank accounts. The main bank accounts are visible on the Dashboard and you can obtain a full list of accounts by clicking on the “View all” link.

In QuickFile, bank accounts offer a flexible way to not only keep track of your current account but also to manage savings accounts, credit cards, merchant accounts (e.g. PayPal, Streamline, Barclaycard Merchant Services etc), loans, and even cash coming in and out of your business. You can create any of these account types from the “Bank Management” screen.

Create a new bank account

Creating a new bank account record in QuickFile is simple. From the “Bank Management” screen, click the button “Create Bank Account”. You will then see a screen like the one below where you can select the name of the bank from the preset list, the type of account held, currency (Switch on multi-currency first), name, credentials, and opening balance.

Setting up a PayPal, GoCardless, Streamline or other card processing accounts

Card processing accounts are regarded as a type of merchant account in QuickFile. You can set up this account in the same way as any other account, just select the “Account Type” option as “Merchant Account”.

QuickFile can also be configured to allow invoices to be paid using a number of online payment providers such as PayPal, SagePay and Worldpay.

For further guidance on the bookkeeping aspect of merchant accounts please refer here .

Modify a bank account once set up

You can modify the details of any new bank account you set up or of any bank accounts already set up by us. In the “Bank Management” area simply choose the bank account you want to change/amend and click the ‘Modify’ button. Once created not all options can be changed without deleting and re-creating the account.

Multi-currency bank accounts

QuickFile supports bank accounts in all major currencies. Before the currency option will be visible you will first need to switch on Multi-Currency accounting.

You can read more about multi-currency here.