A separate account is opened for each account in order to track and report bank accounts of the company efficiently, and it is connected to the related bank. Accounts can be in local currency or foreign currency.
Bank accounts are opened by first selecting the account type. Bank account types are classified under the following groups:
- Current Accounts
- Loan Accounts
- Credit Card Accounts
If transactions will be performed in foreign currency, account types can also be in foreign currency.