Forum Discussion

Sandor's avatar
Sandor
4 years ago

Two bank accounts for Electronic Payments

Currently we are making Electronics Payments using ABA bank files in AccountRight. Our main bank account is linked already for this purpose. We now need to pay suppliers from a second bank account a...
ABA
Bank account
bank file
direct
electronic
link
Payment
  • Steven_M's avatar
    Steven_M
    4 years ago

    Hi Sandor 

     

    AccountRight will only allow for one Linked Account for Electronic Payments - typically the Electronic Clearing account. 

    However, I still think AccountRight can achieve what you are after. Basically, in short, when you mark a transaction as electronic it will place it against the Linked Account for Electronic Payments so it appears in the Prepare Electronic Payments window. You can then tick the transactions off and process them to through to the desired bank account.

     

    So, in your case, you want to have a second bank account for paying those electronic payments. As such, when you want to process an electronic payment to the second account, you just want to ensure that account i.e. that second savings account, is selected as the Pay from Account in that Prepare Electronic Payments window when making that payment. You'll also need to ensure you have entered the banking information for that respect bank account in the Accounts>>Accounts Lists>>Select the account -- Banking tab.

Steven_M's avatar
Steven_M
Former Staff

Hi Sandor 

 

AccountRight will only allow for one Linked Account for Electronic Payments - typically the Electronic Clearing account. 

However, I still think AccountRight can achieve what you are after. Basically, in short, when you mark a transaction as electronic it will place it against the Linked Account for Electronic Payments so it appears in the Prepare Electronic Payments window. You can then tick the transactions off and process them to through to the desired bank account.

 

So, in your case, you want to have a second bank account for paying those electronic payments. As such, when you want to process an electronic payment to the second account, you just want to ensure that account i.e. that second savings account, is selected as the Pay from Account in that Prepare Electronic Payments window when making that payment. You'll also need to ensure you have entered the banking information for that respect bank account in the Accounts>>Accounts Lists>>Select the account -- Banking tab.

Sandor's avatar
Sandor
4 years ago

Hi Steven_M 

 

Thank you for the explanation and instructions. This has fully answered my original question.

 

I now have a second question but related to the same query to do with Electronic Payments.

 

To create ABA bank files for this second bank account and then send it to the bank will I also need a new, second Direct Entry User ID different to the original User ID already used for the main bank account?

 

Or could I just reuse the original User ID?

 

  • Steven_M's avatar
    Steven_M
    Former Staff
    4 years ago

    Hi Sandor 

     

    The Direct Entry User ID is determined by the Bank. Typically, it would be related to the actual bank account with each account potentially have a different set of values, however, it does depend on the Bank. Probably a conversation you want to have with your Bank around that topic.

     

    From an AccountRight point of view, multiple accounts can have the same Direct Entry User ID.

    • Sandor's avatar
      Sandor
      4 years ago

      Hi Steven_M 

       

      Thank you for your help. Your responses are fast and your advice is practical and clear.

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