Add bank accounts and credit cards to be used as payment accounts in DEAR. This article is for those using DEAR as a standalone accounting system.
See Money Operations (Spend Money/Receive Money/Transfer Money) for more information on these features.
NOTE: If you are using Xero or QBO as your accounting system, bank accounts should be created in Xero/QBO then synced over to DEAR. See Xero - Adding bank accounts or credit card accounts or QuickBooks - Online Banking Overview for more information about adding bank accounts to your accounting systems.
- Set up Chart of Accounts
- Users will need the Financial: Bank permission to edit bank account details and reconcile bank statements.
Table of Contents
- Add bank accounts
- Edit bank account details
- Delete a bank account
- View account transactions
- Import bank statements
- Reconcile bank statements with transactions
- View bank statements
Add bank accounts
Bank accounts are added and managed from your Chart of Accounts page. They will be added to your list of Asset accounts. Click on the account entry to edit the bank account details.
- Go to Settings → Reference Books → Financial → Chart of Accounts. Here we have all the different types of accounts grouped under various class headings. You can sort the screen to only show a particular class.
- Click + Bank Account to add new bank accounts.
- Enter all the relevant details like Account Name, Account Code, Account Currency, Bank name and Account number.
- You can enter the Initial Account Balance here if you wish.
- Once you are happy with all the info, click Save, and this new bank account will be added to DEAR.
Edit bank account details
You can access and edit your bank account details from Settings → Reference Books → Financials → Chart of Accounts. Simply click the account entry to make your changes and then save.
You can also edit your bank account details by going to Financials → Bank Accounts, selecting the bank account, and clicking I would like to → Edit Account Details.
Delete a bank account
Bank accounts can only be fully deleted if they have not been used in any DEAR operations or transactions. Bank accounts that have been used (and are unable to be deleted) can be archived to remove them from selection options.
- Go to Settings → Reference Books → Financials → Chart of Accounts and select the bank account to delete.
- Change the Status to Archived and Save.
- Click More Actions → Delete unused archived accounts to delete the bank account. You will not be able to delete the bank account if it has been used, but it can remain archived.
View account transactions
View the history of a bank account's transactions in DEAR.
- Go to Financials → Bank Accounts, select the bank account you wish to view the history of, and click I would like to → View Account Transactions.
- The history of the bank account's transactions in DEAR will be visible. You can also see whether or not a transaction line still needs to be reconciled with a bank statement.
Import bank statements
Bank Statements in CSV format can be imported to DEAR. Bank Statements in this format can be downloaded from your bank online.
- Go to Financials → Bank Accounts.
- Select the bank account you wish to import a statement to.
- When prompted, click Import a Statement.
- Select and upload your CSV file.
- The next step is to map your CSV columns to the columns in DEAR. You may not be able to map all columns due to how your bank statement information is presented - this is fine. Use the Assign to field to select fields to map. Use the arrows to move between bank statement lines if required.
- Click Save to continue. You will be given the option to save the statement mapping for future imports.
- Next, you will be given the option to review the bank statement lines. The following actions are available:
- Delete will remove a bank statement line and change your statement balance. This action is recommended only to remove duplicate lines.
- Restore will restore a deleted bank statement line.
- Reconcile transactions will take you to the next step.
Reconcile bank statements with transactions
The first step is to review what has been imported. Then you can match up transactions from your bank with transactions in DEAR.
Reconcile bank transactions:
- Navigate to Financials → Bank Accounts.
- Find the bank account you want to reconcile. Click Reconcile [number] items or I would like to → Reconcile Account.
- Review each account transaction imported from your bank. We refer to these as bank statement lines, and they're on the left of the Reconcile screen. DEAR will attempt to match the bank statement lines with transactions in DEAR automatically.
- First, check if the statement line is matched with the correct transaction. Sometimes DEAR finds more than one transaction (of the same amount and a similar date) to match with the imported statement line. When this happens, DEAR matches the most likely transaction and provides a link to other transactions that are good alternatives.
- If DEAR has matched the statement line with the correct transaction in DEAR, click Match & Reconcile to accept the match. If the DEAR transaction is not a match, click Find & Match or the Total possible matches link to search transactions for alternatives.
- This opens the reconciliation window. Select one or more transactions to reconcile with the bank statement line, they will be shown in the lower window.
- You can then add any bank fees or minor adjustments, if applicable.
- When the totals match, click Reconcile to finish.
After account transactions from your bank have been imported into DEAR, you need to reconcile them. The aim is to match transactions from your bank with transactions in DEAR.
See Bank Reconciliation for more reconciliation actions such as reconciling a transfer between two bank accounts, creating transactions for reconciliation, and setting bank rules.
View bank statements
View bank statements that have already been imported, and import new bank statements, from the Bank Statements tab of a bank account.