This article explains how to change a property's primary bank account.
Note: The primary bank account is the one selected as the default cash account whenever you enter transactions. Also, if you set up online payments, your tenants’ rent payments are deposited into the primary bank account.
In this procedure, you add a new bank account and a new cash account. (You must add a new cash account because a property cannot have two bank accounts that use the same cash account.)
To change a property's primary bank account (overview)
Add a new GL cash account.
Add a new bank account record in Breeze.
Link the new bank account to the property, using the new GL cash account.
Go to the KYC/Payments Portal and set up the new bank account for online payments. Verifying the bank account can take 3-4 days.
When the new bank account is ready for online payments, mark the new account as the primary account for the property.
Each step in the overview is explained below.
To add a new GL cash account
Go to Admin > GL Account.
Click the Add New button.
Complete the screen. An example is shown below.
Note: Instead of starting from scratch, you can open an existing cash account and click the Copy button. The system will copy over all the settings except the Code and Description. At that point, you just need to enter a new Code and Description and click Save.
To add a new bank account and link it to the property
Go to Accounting > Banking > Bank Accounts.
Click Add New.
Complete the screen. An example is shown below.
In the lower half of the screen, select the property and the new cash account.
Do NOT select the Primary or Deposit checkbox.
To set up the new bank account for online payments
Note: Only the SPOC (single point of contact) can set up online payments in the KYC/Payments Portal.
Click your initials in the upper right-hand corner of the Breeze screen and select Company Settings.
On the Company Settings page, in the lower right-hand corner, click the link to the KYC/Payments Portal. (This link only appears if you are the SPOC.)
The KYC/Payments Portal opens.
Click Bank Accounts to review and set up Breeze bank accounts.
For information about using the KYC/Payments Portal, click .
To make the new bank account the primary Bank account for the property
When the new bank account has been set up for online payments, you can make it the Primary account.
Open the Property screen.
Go to the Bank Accounts tab.
Click the Edit icon
.
Change the Primary designation from the old bank account to the new one.
Click Save.
Note(s):
If the new account will not be used for online payments, you can skip the KYC/Payments Portal step, and designate the new bank account as the Primary account as soon as you add it.
If you are not switching the Primary account, but just adding another account, you can add it to the property when needed.