This article is part of a collection of articles regarding your free upgrade to an improved Spendesk (Spendesk Financial Services).
Why do I need a new bank account code?
As part of your free upgrade, we’ll create a new Spendesk payments account that will replace your existing one. The new payments account is powered by a new bank account with its own bank details and monthly bank statement under the hood.
Where do I enter the new bank account code?
Once you or your accountant have created the bank account in your chart of accounts, you need to enter this account code in your Settings > Accounting > Bank Accounts tabs.
👉 You can enter the code for the “New Spendesk Bank Account” by clicking the edit icon and following the instructions from there.
FAQs
When do I need to complete this?
When do I need to complete this?
We recommend that you complete this step of the upgrade process as soon as we create the new payments account for you. This is to make sure that you’re not delayed when completing your weekly or monthly exports, as you may not be able to complete the export without the new bank code.
Can I use the same code as my former Spendesk bank account?
Can I use the same code as my former Spendesk bank account?
👉 If you are on a file-based export integration type, then technically, yes. But, it is not a generally recommended accounting practice.
👉 If you are on Xero, Datev, NetSuite or QuickBooks, then it may depend on how your integration is setup. So it may be possible, but again, is not recommended.
If I edit the bank account code, when does the edit take effect?
If I edit the bank account code, when does the edit take effect?
When you edit any of your bank account codes, the new code takes effect immediately. That means that any transactions that occurred before the edit will be exported with the previous code, and new transactions after the edit will be exported with the new code.
👉 So, we recommend that you only edit bank codes at the end of the last day of the month.