Sub Accounts


Close your books faster by automating your receivables 

Mass Payments
 

Better manage your payments flow

  • Compartmentalise your receivables that mirrors your account ledger to speed up reconciliation
  • Each sub-account has a dedicated IBAN linked to it
  • Receive and send SEPA, Faster Payments, ACH and International payments

More control and tracking

  • Set the necessary access level and permissions among your team for each sub-account
  • Separate reporting for each sub-account
  • Set aside departmental budgets for ease of management
Simplify Reconciliation
 

How it works

Step 1

Step 1

Create a dedicated multi-currency account in the currency you need.
Step 2 fyorin

Step 2

Set up  sub-accounts that mirror your accounting ledger or to help you easily segregate your cash flow.
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Step 3

Start receiving payments into the sub-accounts directly. Each sub-account comes with its own IBAN.

 

FAQ's

What are sub-accounts?

Sub-accounts help you to save time during reconciliation. Instead of all your receivables flowing into one account, these can be compartmentalized into different sub-accounts. You can assign sub-accounts that mirror your accounting ledger or to clients, departments or anything that will help you to better manage your incoming or outgoing flow of funds.

Can sub-accounts be created to manage departmental budgets?

Yes, you can create sub-accounts as you need. For each sub-account, you can set the necessary permissions among your team members. For instance, you may want to create a payroll sub-account so that only a specific set of people would have access to.

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