Bank Accounts: Configuration

The Bank Accounts feature in MediRecords gives practices a central place to manage all financial accounts connected to billing and payments. From this page, you can view, create, edit, or deactivate both practice-level bank accounts (used for the general ledger) and provider-level accounts (ideal for facilities running a provider revenue model). Keeping bank account details up to date ensures smooth payment processing, accurate reporting, and compliance with your financial workflows.

Whether you need to assign a new account, adjust details, or deactivate one that's no longer in use, everything can be managed quickly from the Bank Accounts settings in MediRecords. In this article, you will learn how to create, edit, delete, deactivate, and reactivate bank accounts, as well as the difference between practice-level and provider-level accounts.

Contents:

1. Practice vs Provider Bank Accounts
2. Opening the Bank Account List
3. Creating a Bank Account
4. Editing a Bank Account
5. Deleting a Bank Account
6. Deactivating/Reactivating a Bank Account

Practice vs Provider Bank Accounts

Practice Level Bank Accounts

Accounts that are associated with an entire practice general ledger. Any changes to this account will reflect in the general ledger for the associated account in the journal.
 

Provider Bank Accounts

If your practice operates under a Facility-fee model, any revenue generated from the invoices of a provider will be paid directly into their bank account. To reflect this in MediRecords, you can set up a bank account for the provider, associate it with their general ledger account, and adjust their account preferences accordingly.

Opening the Bank Account List

The settings for Bank Accounts are located within the Accounts section of the Settings page of MediRecords.

1. Click More.
2. Click Settings.

3. Click Accounts. 

   

   
    

4. Click Bank Accounts. 

   

   
    

Creating a Bank Account

1. To add a new Bank Account, click New Bank Account. 

   

   
    

2. Complete the New Bank Account form, and click Save. 

   • Bank Name, the name of the financial institution the account is held with.
   • Account Name, the name the account is held under.
   • BSB, the BSB (Bank State Branch) number for the account.
   • Account Number, the bank account number.
   • Practice, the practice this bank account belongs to.
   • Account Link, search for and select the existing ledger account this bank account should be linked to, so that transactions and reconciliations post to the correct place in your General Ledger.
   • Code, a unique chart-of-accounts code for this bank account (for example, following a numbering pattern like 1-01-0002).
   • Balance, shows the account's current balance. This is read-only and starts at $0.00 for a new account.
   • Description, an optional free-text description of the account.

   

   
    

3. The bank account will now appear in the summary of linked bank accounts.

Editing a Bank Account

1. To edit an existing Bank Account, tick the box next to the account name and click Edit Bank. 

   

   
    

2. Edit the banking details required, and click Save to apply the changes.

Deleting a Bank Account

1. To delete a Bank Account, tick the box next to the account name and click Delete. 

   

   
    

2. Click Yes to acknowledge that the bank account will be deleted. 

   

   
    

Deactivating/Reactivating a Bank Account

1. To deactivate a Bank Account, tick the box next to the account name, click Status and then Deactivate. 
   
    
2. To activate a Bank Account, tick the box next to the account name, click Status and then Activate.