PracticePanther gives you the ability to create multiple bank accounts. Users will now be able to add payments into any number of operating and trust accounts. Additionally, users will be able to run reports on each of these bank accounts separately, giving your firm full accounting capabilities right here in PracticePanther.
To set up multiple bank accounts in PracticePanther, watch the video tutorial or follow the steps below:
How to Add Additional Account
1) On the top of your screen, click "Payments", then "Bank Accounts".
This is your "Bank Accounts" page. You can easily see all accounts you currently have open on PracticePanther, as well as the amounts that are reconciled or not for each one.
2) To add a new bank account, click "New Bank Account" found on the top right.
3) Add the name of your bank and select which type of account this will be. For your records, feel free to include additional bank account information below before saving.
Then click the green "Connect Bank" button.
Choose how you'd like to link your bank account to PantherPayments. There are two options: Connect Bank and Manually Link.
Option 1: Connect Bank
Connect Bank allows you to sign into your online bank and hand pick any account you'd like to connect. Simply:
1) Click the blue Continue button at the bottom of the popup shown below.
2) Search for your bank among the available options, using either the search bar at the top of the popup shown below or the icons of commonly used banks (shown below). Click when you see your choice.
3) To link your bank to PantherPayments, sign in with the username and password associated with that account. (See below for what this would look like if you're Bank of America. Regardless of whatever bank you use, the screen should look similar to the example below.)
4) Once logged in to your online bank, select the appropriate account to link to PracticePanther and click Continue.
Congrats! Your bank is now linked on this page — but we're not finished yet! We will still need a voided check to get this bank approved in underwriting.
6) Click Upload Voided Check to upload a picture of a voided check. (Beforehand, you will have scanned a voided check and saved it to your computer as jpg, jpeg, png, or pdf.)
7) Scroll to the bottom and click Save to officially link this bank to PantherPayments.
Important: You must click Save in order to finish linking your bank.
Option 2: Manually Link Bank
Use your account and routing numbers to Manually Link to your bank account.
Fill out the Account Number and Routing Number fields.
Select Checking or Savings from the Bank Type field.
Click Upload Voided Check to upload an image of a voided check from your computer.
Scroll down and click Save.
What happens now?
When you go to make a retainer payment, you will have the option to pick from any of your existing bank accounts.
Do custom bank accounts sync with QuickBooks Online?
Not unless you connect PracticePanther bank accounts to QuickBooks Online bank accounts. Custom bank accounts that are not matched with the QuickBooks Online bank accounts will not sync payments to QuickBooks. For help on connecting to Quickbooks Online, click here.