I’ve been using QF for some time now but as yet have not used the Bank Reserve feature, is there any information / advice available on how best to use this, I can’t find any information in the knowledge base?
Thanks, Eddie
Do you mean Bank Reserve Account? It is another name for a savings account where a company keeps some money for cloudy days, to be able to pay the bills even when income decreases or stopped for a short period.
On your bank account overview page click +Create and click Current/Savings Accounts and then choose Reserve Account.
Yes, sorry, I do mean the Bank Reserve Account. Really not sure how this works with the Current Account and mechanics around all transactions, is there any further advice you could point me to within the Knowledge Base?
Thanks, Eddie
Hi @EWP,
The Reserve account would be equivalent to you having a savings account. So you would only need to use it if your company has a savings account.
Hi Beth
Ok, makes sense now, presumably if I do use it, all transactions would be similar to using Current Account?
Thanks, Eddie
Yes, it would work in the same way, so if you’ve got transactions going in/out in your savings account you would replicate this in the reserve account. The same way you do with your current account
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