Cash & Financial Accounts

Last updated: June 20, 2026

Financial accounts are the real-world places money sits: the bank accounts, cash floats and credit lines you pay from and receive into. In payment processing you pick one of these as the source or destination, and because each is wired to a ledger, every movement of physical cash moves the books at the same time.

What you will learn

The kinds of financial account and what they are for
How an account bridges the real world and the ledger
Why bank and cash treat currency differently
When reconciliation applies

Anatomy of the screen

Identity – code, name and description.
Type – Cash, Bank, Credit (card or line of credit), Loan, or Term deposit.
Bank details – bank name, SWIFT, account number and name, for bank-type accounts.
Currency – the account's native currency.
Linked ledger – the GL account this feeds (required), so a movement here posts there.
Require reconcile – whether this account must be reconciled against statements.
Active flag.

How it behaves

The bridge to the ledger

A financial account is the join between the physical world and the books. Pay a supplier from “Maybank Current” and the money leaves both the real account and its linked Asset > Bank ledger in one step. You manage banking in familiar terms; the double entry happens underneath.

Bank versus cash, in currency terms

The type sets currency behaviour to match reality: bank accounts use a weighted-average rate and revalue at period end, while cash uses the rate on the day and stays at historical cost. You rarely think about this, but it is why a foreign bank balance moves with the exchange rate and a petty-cash float does not.

Fee presets

Each account can carry fee presets so that recurring charges, bank fees and the like, drop in automatically during payment processing rather than being typed each time.

Note. A “Prepayment” account type existed in earlier versions but has been retired from the list; prepayments are now handled by customer deposits and vendor prepayments, and by contra documents, not by a dedicated account type.

Edge cases and good practice