Bank Accounts is the list of places the school keeps money: bank accounts, the office cash box and Mobile Money wallets. Each one shows how much should be in it right now, based on the receipts, expenses and payroll recorded in èLyn.
- Where Finance & Billing → Bank Accounts
- Who can use it Anyone whose role includes Bank Accounts. To add or edit an account, the role also needs Finance (the Linked Chart Account list comes from there).
How it fits together
èLyn keeps the school’s books in a list of named “accounts” called the chart of accounts (see Journal & Ledger). Some of these accounts are things the school owns, such as 1000 Cash on Hand, 1010 Bank Account and 1020 Mobile Money Wallet.
A bank account here adds the real-world details, the bank’s name and the account number, and links them to one of those book-keeping accounts. Every time money is received into that account or paid out of it, its balance moves.
Tip: If the school has two bank accounts, say one at GCB and one at Ecobank, first add a second asset account (for example 1011 Ecobank Account) in Journal & Ledger → Chart of Accounts, and link each bank to its own account. Two banks linked to the same account would show the same combined balance.
Add an account
- Click Add Account.
- Enter an Account Name, for example School Fees Account. Add the Bank Name and Account Number if it is a bank account.
- In Opening Balance, enter what is in the account today, for example GHS 12,500.00. Leave it at 0 for a new, empty account.
- Under Linked Chart Account (asset), choose the book-keeping account it belongs to, for example 1010 Bank Account.
- Tick Default account for auto-posting if this is the school’s main account. It gets a Default badge and is listed first.
- Click Save.
The opening balance is written into the books for you, dated today, so the account’s balance and your financial reports start from the right figure.
Check the balances
The list shows each account’s Opening Balance and Current Balance. The current balance is the opening balance plus money received into it, minus money paid out of it, as recorded in èLyn.
Compare it with your bank statement or a cash count. If they differ, something has not been recorded yet: perhaps a receipt entered under the wrong Received Into account, or bank charges not entered as an expense.
Edit or delete an account
Click the pencil icon to change the name, bank, number, linked account or default setting, then Save.
Click the bin icon and confirm to delete an account. An account that has been used for an expense or a payroll payment can’t be deleted; you’ll see This bank account has recorded transactions and cannot be deleted.
Good to know
- Changing Opening Balance on an existing account does not save. The opening balance is posted once, when you add the account. To correct it, make a manual entry in Journal & Ledger.
- Deleting an account does not remove its opening balance from the books.
- These accounts appear in Paid From in Expenses, in Pay from bank account in Payroll, and with their bank name in Received Into in Receipts.
- èLyn does not connect to your bank. Balances come only from what is recorded here.