How to set up a virtual bank account?

How to set up a virtual bank account?

This guide explains how to set up a virtual bank account in Xero and correctly link it correctly in AimyOne.

Setup in Xero
  1. Go to Accounting → Bank Accounts
  2. Click Add Bank Account
  3. Choose any bank and select “Other”
  4. Select “I don’t have online banking set up” or enter a placeholder number (e.g. 000-000-0000000-00)
  5. Enter a easily identifiable name, such as 'Subsidy Clearing - Virtual Bank' or 'Ezypay Clearing - Virtual Bank'
  6. Click Save and repeat for each payment type
Setup in AimyOne
  1. Go to Finance Settings → Account Codes → New Account Code
  2. Match each virtual account name exactly to the Xero account name
  3. Click Save

    • Related Articles

    • How to reconcile payments in a virtual bank account?

      Follow these steps to reconcile payments using virtual bank accounts: In Xero, go to the physical bank account Click 'Reconcile' Select 'Transfer Money' Choose the corresponding virtual bank account as the source Match the transfer amount to the ...

    • Account Holder Report

      The Account Holder Report displays the contact details for all account holders linked to a selected site and term. This report includes information such as email, mobile number, and address of the account holders. The report can be exported to a CSV ...

    • Account Summary

      The Account Summary displays billing related information at account level, for a selected site or sites. The report can be exported to a Excel file by clicking the 'Export' button located in the top right corner.

    • How to set up Special Day Programs?

      When unexpected disruptions such as teachers strike are announced, follow the steps below to manage Special Day Programs. 1. Set up New Closure Day Go to Setup - Closure Days, click '+ New Closure Day' to add the day as a Closure Day. Mark paid or ...

    • How to view booking history of an account?

      To view the booking history for an account, go to the "Booking" tab of the desired account. Past bookings (including pending booking requests) of all attendees in the account are displayed.