When you set up your properties, you must add at least one bank account to each property for accounting purposes. The bank accounts that you add to your properties correspond to your real world bank accounts, and each bank account is tied to a GL cash account.
When you take ACH, credit, or debit payments, payment processing processes the payment and deposits the funds into your account. When you take a cash or check payment, you must complete a bank deposit in Kube to reflect your real-world bank deposit. For more information, see Adding a bank deposit.
This article is part of the Kube accounting setup flow and the Kube property setup flow. For more information, see Kube setup checklist.
NOTE:
Depending on your assigned role and permissions, and the version of Kube your organization uses, some or all of these menus or services may not be available or displayed.
If payment processing is not used in your country, you cannot take electronic payments. For more information, see Payment processing off overview.
If you do not use Yardi Voyager Accounting and you invoice by company, you must use a single bank account with the same cash account at your properties. Because when you take a payment for a company, the company could have incurred charges at multiple properties. Using the same cash account allows Kube to send the funds to the same account, regardless of the property the company incurred the charges at. For more information, see Setting whether invoices send by property or company.
If you use Yardi Voyager Accounting, you can use intercompany billing to take a single payment for charges incurred at multiple properties that do not share bank accounts. For more information, see Turning on intercompany billing.
TIP: Kube compiles all bank accounts for all your properties in the Accounting section of the System Settings on the Bank Accounts tab. You can add an existing bank account to a property by clicking the Edit button on the property's Accounting screen. Click the Add Row button, complete the fields, and click Save. Kube links the existing account to the property and updates the account at the system level to reflect the property you just linked the account to.
To add a bank account
Select your Personal Profile in the top menu and select System Settings from the drop-down menu. The Operator Profile screen appears.
Select Accounting in the side menu and select the Bank Accounts tab.
Click the Add button.
Complete the fields. For field descriptions, see the New Bank Account Screen Reference at the end of this article.
Click Save.
New Bank Account Screen Reference
Account Code | Name of the account. You can enter a maximum of eight letters, numbers, punctuation marks, and spaces. |
Account Number | Number of your real world bank account. You can enter a maximum of 34 digits. |
Currency (International) | Select the bank's currency.
NOTE: This field only shows if the Multicurrency service has been enabled. If you are an international client with international tax enabled and would like more information on adding the Multicurrency service, please reach out to Yardi technical support. |
Property | Property that uses the bank account.
TIP: Multiple properties can use the same bank account. Click the Add button to add additional rows. |
Cash Account | GL cash account used with the bank account. |
Primary | Click the Select button to make the bank account the property's default bank account. If you only add one bank account to the property, that account is the primary account by default. |