How many bank accounts can I add to a business?
You must add at least one bank account with Forwardly to use Payments. If you're connected to accounting software, then you can link the bank accounts to your Chart of Accounts in your accounting software, and Forwardly will reconcile all payment information for you automatically.
What does it mean to map a bank account to a Chart of Accounts (COA)?
A Chart of Accounts (also called a COA) is a categorized account in your accounting software used to organize and track different types of financial transactions such as bank accounts, expenses, assets, liabilities, income, and more.
Forwardly allows users to map their connected bank account with a bank-type Chart of Account from the connected accounting software to help reconcile payment transactions correctly.
Forwardly supports only active bank-type accounts from your connected accounting software for bank account mapping and reconciliation.
If a previously mapped account becomes inactive or unavailable in your accounting software, then the account may no longer be available for selection, and you may need to unlink and map another active bank account to continue reconciliation properly.
To avoid sync or reconciliation issues, make sure the mapped account remains active in your accounting software.
What kinds of bank accounts can I add to Forwardly?
The only types of bank accounts Forwardly can connect with are Business Checking and Savings accounts from banks in the United States. US dollar accounts at Canadian banks are not supported.
| Reminder: Payments are currently only available for American businesses. |