Adding a Bank, Credit Card, or Cash Account

Set up your bank, credit card, or cash accounts in Officaid to track balances and manage your finances in one place.

Track every dollar across all your accounts

Whether you are managing a business bank account, tracking credit card spending, or keeping tabs on petty cash, Officaid lets you set up all your accounts in one place. Once added, you can monitor balances, upload transactions, and even reconcile against bank statements.

Adding a New Account

1 Navigate to Finance → Accounts from the main menu
2 Click + Add New Account in the top right corner
3 Enter an Account Name that helps you identify this account (e.g., "DBS Business Checking" or "Office Petty Cash")
4 Select the Account Type from the dropdown: Bank Account, Credit Card, or Cash
5 Choose whether this is a Business Account by toggling the switch
6 Select your preferred Currency from the dropdown
7 Enter an Opening Balance and set the Opening Balance Date
8 For bank accounts, select your Bank from the dropdown. If your bank is not listed, click + Add New to add it.
9 Optionally, enter a Bank Name as a nickname for this account and fill in the Account Number
10 Add an optional Description for additional notes
11 Click Add Account to save

Use clear, descriptive account names like "UOB SGD Business" or "Petty Cash - Office" so you can quickly identify them later.

Understanding the Account Form Fields

Here is what each field means when creating an account:

Account Name - A friendly name to identify this account in Officaid
Account Type - Choose Bank Account, Credit Card, or Cash depending on what you are tracking
Business Account - Toggle this on if the account is used for business purposes. Business accounts can enable reconciliation features.
Currency - The currency for this account. Each account can only have one currency.
Opening Balance - The starting balance when you begin tracking this account in Officaid
Opening Balance Date - The date your opening balance is effective from (defaults to today)
Bank - Select from a list of supported banks. If your bank is not listed, click + Add New to add it.
Bank Name - A custom display name or nickname for this account (e.g., "Main Business Account" or "Savings")
Account Number - Your actual bank or credit card account number for reference
Description - Optional notes about this account

Want to track accounts in different currencies? Select the currency when creating each account. Learn more in Managing Multi-Currency Accounts.

Adding a Bank Not in the List

If your bank is not available in the dropdown, you can add it yourself:

1 Click the + Add New button next to the Bank dropdown
2 Enter the Bank Name, Bank Code, and Swift Code
3 Select the Country and Currency
4 Click Add Bank to save

Once added, the bank will appear in your dropdown for future use.

For more details on managing your bank list, see Adding and Managing Banks.

Personal vs Business Accounts

When creating an account, you can choose whether it is a personal or business account. Business accounts unlock the Enable Reconciliation toggle, which allows you to match your Officaid records against uploaded bank statements.

Reconciliation is only available for business accounts. If you need to reconcile an account, make sure to toggle Business Account on before saving.

For a detailed comparison of personal and business accounts, see Personal vs Business Accounts.

Frequently Asked Questions

Do I need to fill in all the fields?

Only Account Name is required. The other fields are optional but recommended for better record-keeping, especially if you plan to reconcile your accounts later.

What should I enter as my opening balance?

Enter the actual balance of your account on the date you start tracking it in Officaid. This ensures your records match your real-world account from day one. If you are starting fresh, you can enter 0.00.

Can I add multiple accounts with the same currency?

Yes, you can add as many accounts as you need in any currency. For example, you might have two SGD bank accounts at different banks, or both a USD bank account and a USD credit card.

What's Next?

Now that you have added an account, explore these related guides:

Personal vs Business Accounts - Understand the differences and when to use each
Navigating Your Account - Learn about the Overview, Reconcile, and Transactions tabs
Managing Multi-Currency Accounts - Track finances across different currencies

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