Bank accounts

3-minute read · Last updated 3 November 2026

Add each bank account your company uses, link it to its own ledger account, and set the opening balance for reconciliation.

Before you start

To add a bank account, your role must allow you to manage banking. The Owner, Admin and Accountant roles can. A role that can only view banking sees the screen without the add form.
To create a new ledger account for the bank, your role must also allow you to manage the chart of accounts.
Have the bank's name, the last four digits of the account number, the currency, and the balance on your bank statement on the day you start.

Steps

Create a ledger account for the bank (recommended)

Each bank account in RTS Book posts to a ledger account in your chart of accounts. A new company already has 1100 Cash and Bank and 1110 Petty Cash. If you have more than one bank account, give each its own ledger account.

Go to Accounting › Chart of Accounts.
Click New account.
In Type, choose ASSET.
In Statement section, choose Balance Sheet › Assets › Current Assets › Cash and Cash Equivalents › Bank (BANK).
Keep the proposed Code (3–8 digits), or type your own.
Type a Name, for example "Business current account".
Click Create account.

The New account form with Type set to ASSET and the Bank statement section chosen

Add the bank account

Go to Banking › Banking.
In Add a bank account, type a Name you will recognise, for example "Main AED account".
Type the Bank name.
Type the Account no. (last 4). Only the last four digits are kept, never the full account number.
Type the 3-letter Currency code, for example AED.
In Bank ledger account, choose the ledger account this bank posts to. Only bank and cash ledger accounts are listed.
In Opening balance, type the balance shown on your bank statement on your start date.
Enter that start date in Opening date.
Click Add account.

The Add a bank account panel on the Bank reconciliation screen with every field filled in

What happens next

The account appears under Bank accounts and their ledger accounts, with the ledger account it posts to.
It is offered in Paid from on expenses and payments, and in the Bank account list for statement imports.
The opening balance is the starting point of the statement side of the reconciliation. It does not post anything to your books.
To move a bank account to a different ledger account, click Relink beside it and choose the new account. Past postings stay where they are; new payments post to the new account. Relink is refused while the bank account has matched lines.

Common mistake

Adding a sub-account under 1100 Cash and Bank turns 1100 into a group account, and a group account can take no payments. Any bank account that still posts to 1100 is then flagged with Linked to a group account: no payment can move through it. Click Relink on that bank account and choose the bank's own ledger account.

Last updated: 3 November 2026