Bank accounts

This is the register of every bank account your organization pays from or into. It holds the promoter's RERA accounts for each project (the collection, RERA separate and operative accounts), its GST and operating accounts, and the payout accounts of channel partners, vendors, buyers and society members. Every account has one owner, a purpose, the bank details and, for joint accounts, the named holders.

Where to find it

In the sidebar, open the Masters group and choose Bank Accounts (the page itself is titled Bank accounts). The same panel opens from the Bank accounts card on a Company page or an Allottee page, with the owner fixed to that company or member, and from the banking step of the Project setup wizard, with the owner fixed to the promoter and the purpose and project pre-filled.

You need the View permission on Bank Accounts to see the list. Without it the page shows "No access" and "You do not have permission to view bank accounts. Ask your administrator." In the default roles the Sales Executive, Site Engineer and Front Desk cannot view bank accounts; every other role can.

Before you start

• The owner must exist: a company under Companies, a person under Contacts, or a society member under the society's tenants.
• Purposes come from Lookups: Collection account, RERA separate account, Operative account, GST, Operating, Client Payment, Tenant Payout and Channel Partner Payout by default. Choosing one needs the View permission on Lookups (hint "Needs the Lookups permission." otherwise).
• Searching for an owner needs the View permission on that owner's module: Companies, Contacts, or Societies together with Tenants. Owner kinds you cannot search are left out of the Owner dropdown. The panel still opens on Company; if you cannot search companies it warns "Searching companys needs read access to that module." until you pick another owner kind.

What you see

The page header reads "Every account you pay from or into: the promoter's RERA, GST and operating accounts, channel partners, vendors, buyers and society members."

Above the grid:

• Owner filter (placeholder "All owners"): Company, Person or Society member.
• Project filter (placeholder "All projects"), shown if you can view projects.
• Purpose filter (placeholder "All purposes"), shown if you can view lookups.
• Verification filter: Verified and unverified, Verified only, Unverified only.
• Active filter: Active and inactive, Active only, Inactive only.
• Search (placeholder "Search by holder, bank, account number, IFSC or UPI").

Column	What it shows
Account holder	The account holder name, which opens the account, with "<bank> · <branch>" underneath.
Owner	A badge Company, Person or Society member and the owner's name; a company name links to its page.
Account no. / IFSC	The account number, with the IFSC and the account type underneath.
Purpose / project	The purpose badge, or "—", with the project underneath.
Status	Chips: Primary, Verified or Unverified, Inactive, and "Joint · N" when more than one holder is named.
Added	The date the account was added.
Actions	The row's icons.

The list opens sorted by account holder name, A to Z. Every column except Actions can be sorted. When there are no accounts the grid reads "No bank accounts yet".

The bank account panel

Titled New bank account, "New account for <owner>" when opened from an owner's page, or "<bank> ····<last four digits>" for an existing account.

Fieldset Owner:

• Owner: Company, Person or Society member (hint "Whose account this is; it cannot be changed later."). Then a Company search (placeholder "Search active companies"), a Person search (placeholder "Search by name, phone or email", with a New button that opens the contact panel if you hold the Create permission on Contacts), or a Society dropdown followed by a Member search (placeholder "Choose the society first" until a society is picked, then "Search by name, phone, membership or flat"). Messages: "Pick the company", "Pick the person", "Choose the society", "Pick the member". On an existing account the owner is shown as a line with "The owner cannot be changed."
• Purpose (placeholder "Not specified"). For a company the hint reads "Collection, RERA separate, operative, GST, operating, payouts…". Opened from a company's own page, the purpose is filled in from the company's type (Channel Partner → Channel Partner Payout, Promoter Entity → Operating; hint "<purpose>, from the company type; change it if this account is for something else."), and can be changed. For a person or member, the collection, RERA separate, operative and GST purposes are not offered ("Collection, separate, operative and GST accounts belong to the promoter company, so they are not offered here."); when only one purpose is left it is filled in and locked with "The only purpose an allottee's/contact's own account can have: it is where money is paid to them."
• Project (placeholder "Not project-specific"; hint "RERA and GST accounts belong to one project."). Pin the collection, RERA separate, operative and GST accounts to their project.

Fieldset Account details:

• Account holder name (required, at most 150 characters; hint "Exactly as printed by the bank (used to match cheques)."): "Account holder name is required".
• Bank (required; placeholder "e.g. HDFC Bank"): "Bank name is required".
• Branch (optional).
• Account type: Savings, Current, Escrow, Overdraft or Cash Credit (placeholder "Not specified").
• Account number (6 to 30 letters and digits; spaces are removed as you type): "Use at least 6 characters", "Use at most 30 characters", "Letters and digits only, no spaces".
• IFSC (placeholder "HDFC0001234"; upper-cased as you type): "Enter the 11-character IFSC, e.g. HDFC0001234". An IFSC is four letters, a zero and six letters or digits.
• UPI id (optional; placeholder "name@bank"): "Enter a UPI id like name@bank".
• Notes (optional, at most 255 characters).
• Primary account ("Default for payouts to this owner."), Verified ("Cancelled cheque or penny-drop checked."; needs the Edit permission on Bank Accounts) and Active ("Inactive accounts stay on record.").

Fieldset Holders: "People named on the account. List every holder of a joint account; a member's payout account must include the member." Add holder adds a row on top with a Holder N contact picker and a Role of Primary or Joint (the first row defaults to Primary, later ones to Joint), each with a remove icon (tooltip "Remove holder N"). The holder picker has the same New button as the person owner. New person beside it (the Create permission on Contacts; greyed out otherwise with "Needs the Create permission on Contacts" on hover) opens the New contact panel and, once saved, names that person on the account as a new holder row, so a holder who is not in Contacts yet never has to be added separately first. Opened from a company's own page, the new person's Contact type is already filled in from the company's type (Channel Partner for a channel partner, Vendor for a vendor or contractor; hint "<type> from where you opened this; change it if needed."), as it is for the holder picker's New button there. Messages: "Pick a person or remove the row", "Already listed", "Only one holder can be the primary holder". With two or more holders a Mode of operation appears (Either or Survivor, Jointly, Former or Survivor, Anyone or Survivor; hint "The bank mandate for the joint account."), required then: "Choose how the joint account is operated". Naming holders needs the View permission on Contacts; otherwise the fieldset reads "Naming holders needs the Contacts permission."

What you can do

New bank account

Opens the panel empty.

• Who: anyone with the Create permission on Bank Accounts. In the default roles that is the Administrator, Finance Lead and Accountant. The button isn't shown otherwise.

Add account

Saves the account and shows "Bank account added." If Primary account is ticked, the owner's other accounts lose their primary flag. A person's or member's account gets that person as its Primary holder when you named none; a company account gets no holder unless you add one.

• Who: anyone with the Create permission on Bank Accounts.
• What can go wrong: "Enter a valid 11-character IFSC code." on the IFSC field; "An account with this number and IFSC already exists" on the Account number field (the same account may already be recorded under another owner); "Not available on an allottee's account." or "Not available on an contact's account." on Purpose when a collection, RERA separate, operative or GST purpose reaches a person's or member's account; "That person is already listed as a holder." for a duplicate holder; "Choose exactly one owner: a company, a person or a society member." when no owner was picked.

Edit / Open

The account holder name, or the pencil icon (tooltip "Edit"), opens the account. If you hold only the View permission the icon is an arrow (tooltip "Open") and the panel is read-only with a Close button.

• Who: anyone who can see this list.

Save changes

Saves only the fields you changed and shows "Bank account updated." A new list of holders replaces the old one.

• Who: anyone with the Edit permission on Bank Accounts. In the default roles that is the Administrator, Finance Lead, Accountant and Compliance Officer. The button isn't shown otherwise.
• When it is greyed out: until you change something. No hover reason is shown.
• What can go wrong: "The owner of a bank account cannot be changed. Add a new account for the other owner instead."; the IFSC, account number and holder messages above.

Verified

The Verified checkbox in the panel records that the cancelled cheque or a penny drop was checked; the row's chip changes from Unverified to Verified.

• Who: anyone with the Edit permission on Bank Accounts; the box is disabled for everyone else.

Delete

The trash icon (tooltip "Delete") asks "Delete bank account?": "<bank> account ending <last four digits> of <owner> will be removed. An account with payments recorded against it cannot be deleted; mark it inactive instead." Confirm with Delete. On success a message reads "Bank account deleted."

• Who: anyone with the Delete permission on Bank Accounts. In the default roles that is the Administrator, Finance Lead and Accountant. The icon isn't shown otherwise.
• What can go wrong: "Payments reference this bank account; deactivate it instead" when any payment names the account; "That conflicts with existing data." when a payout run paid from it. Untick Active instead.

Statuses

Bank accounts have flags rather than a status: Primary (the owner's default payout account), Verified or Unverified, Inactive, and "Joint · N" for a joint account. Holders are Primary or Joint.

Things to know

• The owner is fixed once saved. An account belongs to exactly one company, person or society member and can't be moved; add a new account for the other owner instead. This keeps payouts and ledgers tied to the right party.
• The project's RERA accounts belong to the promoter company. The purposes Collection account, RERA separate account, Operative account and GST are what the project readiness check, the bank ledgers, the RERA sweeps and the receipt warning look for, so they are allowed only on a company's account. A person's or member's account is where money is paid to them. What each account is for:
  • Collection account: "RERA collection account: every buyer payment enters here (100%); non-operative, swept daily". Receipts default to it.
  • RERA separate account: "The escrow share of every sweep (70% under RERA 2016); drawn only for land and construction cost against certificates".
  • Operative account: "The rest of every sweep (30% under RERA 2016); the developer's working account, refunds are paid from it".
  • GST: "Where a buyer's GST is banked apart so it never enters the sweep".
• Readiness needs three of them. A project can sell and collect once its promoter has a collection, a RERA separate and an operative account, each with its bank ledger; the GST account is optional (the readiness card shows a warning without one). See RERA accounts and the daily sweep.
• A purpose account without a project counts for every project of the promoter; an account pinned to a project wins for that project, then the Primary one, then the oldest. The collection, RERA separate, operative and GST accounts should be pinned to their project.
• Saving a promoter's collection, RERA separate, operative or GST account creates its bank ledger in the promoter's books, provided the account is active and the books already exist and are active. If the account was saved first, open the project's readiness card (or the booking wizard) and click Sync bank ledgers (needs the Edit permission on Projects; hover reason "Creating the ledgers needs permission to edit projects"). It answers "Bank ledgers created: <codes>." or "Every bank account already has its ledger." Until then the project shows blockers such as "<Promoter> has no collection bank account for this project", "<Promoter> has no RERA separate bank account for this project", "<Promoter> has no operative bank account for this project" or "The books have no ledger for the collection bank account <bank> ····<last four>; sync bank ledgers" (also "… for the RERA separate bank account …", "… for the operative bank account …" and "… for the GST bank account …").
• Renaming an account does not rename its ledger. The ledger keeps the name it was created with.
• Payout runs pay the primary active account, or any active account when none is primary. The Verified flag is recorded for your own control and is not checked by payouts, so tick Primary only on an account you have verified.
• Holders and the mode of operation are recorded, not enforced. Beyond adding the owner as the default holder of a person's or member's new account, nothing checks that a member's payout account names the member.
• An IFSC has 11 characters. A 10-character code you were given is missing a character, usually a zero (HDFC000060 is really HDFC0000060).
• Account number plus IFSC identify an account across your organization; the same account can't be recorded twice, even under a different owner.
• Account numbers, IFSC and UPI ids are shown in full in the grid and in the audit log.
• Changes are recorded and can be read in Settings > Audit log under the Project settings component; there is no History button on this screen.
• Your organization can rename the grid's column titles, so your screen may use different words.

Related

• Companies
• Company
• Contacts
• Allottee
• Project overview
• Project setup wizard
• Books overview
• Ledgers
• Payout runs
• RERA accounts
• RERA sweeps
• RERA accounts and the daily sweep
• Lookups
• Audit log
• Register the promoter entity and its project bank accounts
• Bank account cannot be saved, changed or deleted: IFSC, owner, purpose, holders or payments in the way
• Bank accounts, purposes and bank ledgers