When changing to a new client account, a new importer may need to be temporarily added to the system. This will typically be named Client account (new) and will allow transactions to be uploaded from the new bank account. The user should contact the Financial support team to set this up.
SME Professional will only create a BACS Schedule to make payments from one client account. This means that the support team will also need to update the BACS exporter type present on the system before you begin paying out of the new account.
To accommodate this change on your system, the support team require the following information:
The date the user intends to start importing transactions from the new account.
The bank and banking platform the new account is with.
Once the new importer is applied to the software, the user must do the following:
Update the bank account details stored on the software. Click here to find out how to change these.
Go to Bank > Add client account and import the transactions present in the original account.
Go to Bank > Add client account (new) and import the transactions present in the new account.
Go to Financials > Unassigned lines and assign all transactions.
Log into their online banking and transfer the full balance from the former account to the new account.
After importing the bank lines the following day, the user will see the bulk debit from the former account into the new account. These should be assigned to Business > Internal transfer.
NOTE: Steps 2 - 5 of the process should be repeated daily until the former account is completely closed.
This process ensures that all funds will be present in the new account. This means all landlords and contractors can be paid from the new account, and any fee transfers can be made from the new account. Users do not need to work to determine which funds are held in which account prior to payment.