How Do Default Bank Accounts Work?

Using multiple bank accounts from multiple institutions is no issue for your FINSYNC profile. Different default bank accounts can be set for different aspects of your business with ease.

FINSYNC lets you set your default bank accounts for the following:

  • Landing (Account) - This is the account that your Banking tab defaults to when you first click it.
  • Income (Receive Payments) - When a customer pays you, your money will go to this account.
  • Expenses (Send Payments) - This is the bank account where funds will be withdrawn when you pay bills through FINSYNC. Note: You can override the default account that you set when paying bills as needed.  
  • Payroll (Fund Payroll) - This is the account from which funds will be withdrawn in order to pay your team.
  • Billing (Pay FINSYNC Charges) - This is the account that will be  automatically billed for your FINSYNC subscription and transactional charges.

Setting up your default accounts is easy. Watch this brief video or follow the steps outlined below:

1. Click on the Banking tab from the top menu.

2. Click the Settings button on the top-right of the screen.

 

3.  Select the landing account and then the default accounts.

  • The Landing Page Account is found underneath the Account Details section.
  • Below you will find the area for selecting the other Default Accounts respective to their purpose.

Note: Only ACH-enabled accounts can be the default account for Income, Expenses, Payroll, and Billing. 

4. Once the default accounts are set, scroll to the bottom and click "Save Changes."

The default accounts are now set!