Bank Accounts¶

The Bank Accounts page provides a consolidated view of all bank accounts and their current balances across your properties. Use it to monitor cash positions, review accounts by property, and track payments in transit.

Integrating a Bank / Bank Account¶

To integrate a new bank and/or account with Credence, please work with the Credence support team ([email protected]). Different Banking Institutions offer different methods of connecting to their systems. Because of this diversity, Credence works with each Bank to ensure data can flow securely and efficiently.

Account Setup and Plaid Connections¶

New Plaid accounts appear as unassigned accounts in the workspace that created the connection. Teammates with banking view permission in that workspace can find and open them. Editing or authorizing a connection also requires banking change permission; only the original connector can renew Plaid authorization.

Use the Unassigned owning-entity filter to find accounts awaiting setup. Results include only accounts you can access.

Assign an account to an owning entity and select its cash account to complete setup. Assignment requires permission to change the account and permission to change bank accounts for the destination entity. After assignment, account access follows that entity's portfolio, including when a third-party property manager created the connection. Unassigned accounts are excluded from property-based accounting selectors.

Plaid refreshes update bank metadata and balances while preserving your account name, owning entity, and cash-account mapping. Search includes both your account name and the name supplied by the bank.

Open accounts show Needs configuration until they have a name, currency, supported account type, owning entity, and compatible default cash account on that entity's chart. The account detail explains missing or invalid settings. Payment selectors and generation use the same readiness rules. Feed health remains independent: an account can ingest bank data before setup is complete.

Each bank account needs a separate cash account within its owning entity. Reusing a cash account on another entity is allowed. A closed bank account still reserves its mapping because its ledger history remains part of reconciliation. Conflicting mappings show Needs configuration and must be corrected before the open accounts can fund new payments.

Closed accounts show Closed, without ingestion-health or reauthorization badges. Reopening is the only available bank-account action and requires banking change permission. Reopen an account before editing, syncing, updating authorization, disconnecting, or importing transactions.

Settle or cancel generated payments before closing the funding account. Closing and reopening record the acting user and timestamp. Routine ingestion stops writing balances and transactions to closed accounts; shared Plaid connections continue serving open sibling accounts. Reopening queues a catch-up sync of provider-retained history. Recovery cannot retrieve activity that the provider no longer supplies.

After an account has ledger bundles or generated payments, its owning entity, currency, and cash-account mapping are protected from ordinary edits. Correct those assignments through a reviewed accounting correction. Imported transactions without accounting or payment history do not prevent initial setup.

Information Security¶

Credence does not send any information to your Bank or directly facilitate financial transactions. An integration allows Credence to pull the statements from your Bank for display within the system. Credence also offers the ability to generate standardized NACHA and SEPA files that can be uploaded to your Bank to help facilitate payments.

Notes¶

Credence displays the most recent official balance that has been pulled from the Bank. This balance does not include any pending transactions that have not yet cleared the Bank.

Credence does offer an estimated view of the live available balance which takes into consideration any Payable marked as Payment in Transit. This number is not an official balance; it is meant as a high-level indicator towards the risk of any particular Bank Account over-drawing its balance.

ACH and NACHA File Fields¶

ACH-enabled bank accounts use dedicated ACH fields for the NACHA file header and batch header values that banks commonly require:

• Immediate Destination Number and Immediate Destination Name identify the receiving bank or ACH operator details your bank provides.
• Immediate Origin Number and Immediate Origin Name identify the sending entity details your bank provides.
• Company Identification identifies the company in the NACHA batch header.
• SEC Code sets the Standard Entry Class Code for generated batches. Credence supports CCD, PPD, and WEB.
• Company Entry Description describes the payment purpose on each batch header. It defaults to VENDORPAY and must be 10 characters or fewer.
• Company Discretionary Data optionally carries additional batch-header context. It must be 20 characters or fewer.

Credence generates the NACHA file ID modifier automatically. For each Immediate Origin Number and Immediate Destination Number pairing, the first ACH file generated on a local calendar day uses A, the next uses B, and so on through Z. If more than 26 ACH files are generated for the same pairing on the same day, Credence stops generation and asks you to retry on a later day or consolidate files.

NACHA Processing Settings¶

For ACH-enabled bank accounts, the NACHA Instructions field is reserved for advanced processing settings. Leave the field blank to use the default ACH behavior built into Credence. Use the supported settings below only when you need to change batch splitting, balancing entries, addenda, or effective-date behavior.

The field accepts a JSON object. Credence validates the JSON before saving it and rejects malformed JSON, unsupported keys, and values with the wrong type.

Supported Keys¶

Format Notes¶

• The top-level value must be a JSON object, not a list or plain string.
• You only need to include the keys you want to override.
• effective_date_business_days must be 0 or greater.
• Header and batch-header values, including SEC Code, Company Entry Description, Company Discretionary Data, and file ID modifier, are not accepted in this JSON field.
• Old JSON keys such as std_ent_cls_code, company_entry_description, company_discretionary_data, and file_id_modifier are rejected. Use the dedicated ACH fields instead.
• If both balance_per_entry and balance_per_batch are set to true, Credence will apply both behaviors.

Examples¶

Use one batch per vendor:

{
  "batch_split_strategy": "by_vendor"
}

Create one batch per payable and add one balancing entry per batch:

{
  "batch_split_strategy": "by_payable",
  "balance_per_batch": true,
  "offset_entry_name": "OFFSET",
  "offset_entry_type": "22"
}

Suppress addenda and push the effective date out by two business days:

{
  "include_addenda": false,
  "effective_date_business_days": 2
}