Bank Account Type
Overview
Bank Account Type – Business Overview
Bank Account Type is a simple but important reference document in Dafater that helps businesses clearly classify the kinds of bank accounts they use. It provides standardized categories such as current accounts, savings accounts, loan accounts, or other banking arrangements, ensuring consistency and clarity across all financial records.
What Bank Account Type Is Used For
In daily business operations, Bank Account Type is used to:
- Define and standardize the different kinds of bank accounts the business maintains
- Support accurate recording and reporting of banking activities
- Ensure consistency when setting up and managing multiple bank accounts
- Help finance teams quickly understand the purpose and nature of each bank account
By using Bank Account Type, organizations avoid confusion and improve financial transparency.
Prerequisites and Setup Requirements
Before using Bank Account Type, the business should: - Identify the different types of bank accounts it operates (for example: operational, savings, escrow, or loan-related) - Agree on clear naming conventions that are easily understood by finance and accounting teams - Align the account types with internal financial policies and reporting needs
This setup is usually done once and reviewed periodically.
Typical Workflow and Business Fit
The typical use of Bank Account Type follows this flow:
1. Finance leadership defines the required bank account categories
2. Each category is created as a Bank Account Type
3. When new bank accounts are added in Dafater, the appropriate Bank Account Type is selected
4. Financial transactions and reports use this classification for clarity and consistency
This document quietly supports day-to-day accounting without requiring frequent changes.
Key Business Scenarios Where Bank Account Type Is Essential
Bank Account Type is especially important when:
- Managing multiple bank accounts across different banks or regions
- Separating operational funds from savings, investments, or loan-related accounts
- Preparing internal or external financial reports
- Supporting audits, compliance reviews, or financial analysis
- Ensuring new finance team members can quickly understand account usage
Important Considerations for Users
- Keep the list of Bank Account Types simple and meaningful
- Avoid creating duplicate or overly specific types that may confuse users
- Review account types periodically to ensure they still match business needs
- Use consistent terminology that aligns with how the business actually uses its bank accounts
In summary, Bank Account Type acts as a foundational classification tool in Dafater, helping businesses organize their bank accounts clearly, maintain financial discipline, and support accurate reporting across all accounting activities.
Basic Information
- Module: Accounts
- Document Type: Other
Fields
| Field Name | Label | Type | Required | Options | Description |
|---|---|---|---|---|---|
| account_type | Account Type | Data | - | Defines bank account classification used across Dafater financial processes |
Permissions
| Role | Read | Write | Create | Delete | Submit | Cancel |
|---|---|---|---|---|---|---|
| Accounts Manager | ✓ | ✓ | ✓ | ✓ | ||
| Accounts User | ✓ | ✓ | ✓ | ✓ | ||
| System Manager | ✓ | ✓ | ✓ | ✓ |
Related DocTypes
| DocType | Relationship | Module |
|---|---|---|
| Bank Account | Linked from | Accounts |