How to add, edit or remove bank account information

Synonyms include operating account, trust account, escrow account, and reserve account.

For example:

  • Around the first of the month, money is deposited in a bank account once payments have been received.
  • A bank account is where you would keep the security deposit money and other escrow monies, ideally separate from an operating funds bank account.
  • An association commonly maintains two bank accounts, one for day-to-day operations and another for reserves and anticipated, future expenses.

If you've recently started with Buildium and been through our guided set-up, you most likely have already entered your bank accounts. If you skipped the guided set-up, or need to add bank accounts during your Buildium subscription, you can follow the steps below.

Add a bank accountShowHide

To add a bank account to Buildium:

  1. Navigate to Accounting > Banking
  2. From the bank accounts page, click Add bank account.

  3. Complete the form. Note: Only the bank account name is required, but it will save you time later if you enter all detailed information when you add the bank account into the system. If you plan on using ePay or Remote Check Printing services, you will need to add the account and routing number.

  4. When you're done entering bank account information, click Save.

Edit bank account informationShowHide

  1. Navigate to Accounting > Banking.
  2. Click the name of the bank account you want to edit.
  3. From the transactions page, click Edit account.
  4. Make any needed changes, then click Save.

Inactivate a bank accountShowHide

Inactivating a bank account will hide it from your view, but if there are any available funds tied to an inactive bank account and Buildium, this money will still appear on a balance sheet. 

To inactivate a bank account:

  1. Navigate to Accounting > Banking page.
  2. Click the name of the bank account you want to inactivate.
  3. From the transactions page, click on the Properties tab to make sure there are no active properties using the account as their default bank account. If there are properties attached to the account, you will need to change the default account on the properties first, then come back to inactivate the bank account.
  4. Click Inactivate account.

Delete a bank accountShowHide

  1. Navigate to Accounting > Banking page.
  2. Click the name of the account you want to delete.
  3. Click Inactivate account.
  4. In the confirmation screen, click Delete.

    If this confirmation screen does not appear, it means that the bank account is in use currently or has been used in the past. Bank accounts with associated transactions, like checks and deposits, cannot be deleted; Buildium will inactivate the account instead.

 

Article #:112187

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