1. CORE Help Center
  2. Getting Started
  3. CORE Settings
  4. Settings
  5. Accounting

Bank Accounts

Updated

Overview

BQE CORE uses the default bank accounts specified on this screen to automatically process key financial transactions such as writing checks, paying bills, and making deposits. By assigning specific bank accounts to each transaction type, CORE ensures consistency and accuracy across all your accounting workflows. These default settings help automate and streamline your daily operations, reducing the chance of manual errors and ensuring all payments and deposits are routed through the appropriate accounts.

Field Descriptions

Field Name Field Description
Settings > Accounting > Bank Accounts >
Bank Accounts

You can set the default banks accounts here for various screens in CORE. You can also create your own accounts and then set them up as the default accounts. This helps in maintaining your own Chart of Accounts numbering and hierarchy. If needed, you can change these accounts anytime and have CORE reallocate their historical transactions automatically. You can override these accounts later at the relevant screen level.

  • Write Checks

    The account you want to use for writing checks. The account specified here is selected by default in the Checks screen.

  • Pay Bills

    The account you want to use for paying vendor bills. The account specified here is selected by default in the Bill Payments screen.

  • Make Deposits

    The account you want to use for depositing funds or payments, such as your savings bank account. It is selected by default in the Deposits screen.

Companies also need bank accounts in order to pay wages or taxes, and reimburse other expenses. CORE allows you (employer) to add bank accounts and set them as defaults. In CORE, you already have Chart of Accounts where you can add bank accounts and specify all the required information. When bank accounts are created there, Settings allows you to set those bank accounts as defaults.

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