A bank account in Breeze records all activity that happens at a physical bank account. For example, if you record a receipt in Breeze it should correspond to a real deposit at your bank. If you make a payment in Breeze it should correspond to a real payment that comes out of your bank account.
When you link a property and GL account to a bank, it means that whenever you enter a transaction in Breeze at the property that impacts that GL account, a transaction must occur at the physical bank as well.
You can link a single bank account to multiple properties. In this case, the balance in the bank account equals the sum of property accounts it is linked to.
To add a bank account
Go to Accounting > Banking > Bank Accounts and click + Add New.
Complete the screen. The following sections describe each screen tab in detail.
Bank Account Tab
Nickname: Enter a short name for the bank account. The nickname appears on Breeze screens where you select a bank account. Once you enter the nickname, do NOT change it. Online Payment Processing uses the nickname as an identifier for the account. If you change the nickname, Online Payment Processing will fail.
Account Number: Enter the bank account number.
Description: Enter the complete name of the bank account, or other descriptive text.
Property G/L: Use this part of the screen to link properties to the bank account. For each property, you select the cash account that is linked to the bank account. Specify if this account is the Primary bank account or the Deposit account. If it is an alternate bank account (not the main cash account or the deposit account), leave the check boxes blank.
This Property G/L section also shows links that were made on the property screen. (On the Property screen, you can link a property to an existing bank account.)
Checkboxes for Primary and Deposit Accounts (Additional Information)
Select Primary for bank/cash account combination you use most often to record receipts and payments. Breeze will use it as the default cash account whenever you enter transactions. If you set up online payments, your tenants’ rent payments will be deposited in the primary bank.
Select Deposit for the bank/cash account combination used to hold security deposit funds. Make sure to select this cash account whenever you enter a receipt for a refundable deposit. If you set up online payments and a tenant pays their deposit charge online, those funds will be deposited in this bank.
You can only have one primary bank and one deposit bank. They can both be the same bank or they can be different banks. (This is the case even when you have multiple banks – Breeze will let you mark one bank as both and leave everything unchecked on any other banks.)
Next Numbers Tab
Use this tab to enter the next number to use for each type of transaction.
For Check Number and EFT Payment Number, we recommend setting up a wide gap in the sequencing; for example, start Check Number at 1 and EFT Payment Number at 101. This will prevent the numbers from being duplicated in the same bank reconciliation.
The same is true for Deposit Number and EFT Deposit Number. In the example shown above, Deposit Number is set at 1 and EFT Deposit Number at 101.
For all the fields on this tab, the maximum length is eight digits.
Note: If you use preprinted check stock, make sure that Check Number matches the actual number on the first preprinted check before the initial check run.
Payment Setup Tab
Complete this tab if you plan to print checks from Breeze.
Complete the Bank Deposit Printing Setup section if you want to print the bank MICR on deposit slips.
Setup for Online Payments
To set up payment processing and online payments for your bank accounts, see this article.