Financial Accounts are a classification of the various accounts which are used to make or recieve payments from & to vendors, suppliers, customers, employees, agencies etc.
Example:
- Specific Bank (Branches etc)
- Cash Payments
- Specific Online Payment Gateways
Financial Accounts are used to track payments due (either to recieve or make), thereby help keeping track of financial records within a specific account. This track is kept using the 'Change Log' of a specific account.
Your bank account details are setup during the Setup Wizard for your business and is automatically saved as a financial account, namely 'Bank'
