Bank Accounts

Use the bank accounts screen to set up and maintain bank accounts in Gravity. Gravity allows an unlimited number of bank accounts. Each bank account must have its own GL account in the chart of accounts.

When working with multiple entities, the same GL Account can be used in differing entities with unique bank accounts attached in each entity. For Example:

Access bank account set up functionality from the system settings, financials options. 

Use the screen’s new icon to display a new bank account screen.

The new bank account screen is comprised of two sections (summary and bank detail).

 The summary section is displayed below:



Please select the appropriate bank account type from the options provided in the account type field. You can choose between a traditional bank account or an account specifically designed for processing credit cards. It is important to note that selecting the Credit Card type will prevent the bank account record from being used for payment processing.

Enter a unique name for each bank account. Since multiple bank accounts are often used with the same bank it is recommended that the bank account name be unique like Chase #5612 where the last 4 digits of the specific bank account is added to the name.

Note that the entity code is locked. A bank account cannot be assigned to any entity other than the active entity. To set up a bank account for another entity, switch to that entity as described above.

Select the GL account number established for the bank account. Enter part of an account number or name into the field, hit enter, and select an account from the pop-up list displayed. Use the search icon to display an account number list.

Select the GL account from the list displayed.

Select a currency for the bank account. The entity’s default currency is displayed. Use the field’s search icon to identify and select the currency required. See Multi Currency for more information on how Gravity handles currencies with Bank Accounts

These fields are maintained by Gravity but can be entered when first setting up Gravity to establish a bank reconciliation starting point.

Enter the next check number to be used from this bank account. The system uses this number in the check printing process. Gravity maintains the number automatically as checks are printed.

Use the account for ACH processing field if the bank account will be used in processing electronic ACH payments.

The field’s default setting is "No". When selecting "Yes" note that the bank account and routing number fields become required. 

See Payment Processing

The use for MICR printing field determines if the account will be used for MICR check printing using the Print Boss add on application.

Selecting "Yes" causes the system to print special information during the PDF creation process to identity the company, account and check number to the Print Boss application.

See Gravity PrintBoss

Not used currently

Gravity provides bank aggregation using 2 services, Finicity and Plaid. Plaid is our preferred provider. Select the provider you are using to connect and download bank or credit card activity. See Bank Aggregation - Plaid

Enter details relating to the bank account. These are for reference only and not currently used by Gravity.

Payment Details fields are used in creating Payment Export files. See Payment Export File Definition