Managing bank accounts

Before you get started there are some terms you will need to know in order to understand your bank accounts in ParentPay:


Payee: The name of the organisation that ‘owns’ the funds and the bank account such as school, caterer,
Authority or other provide.

Bank account: Name of the bank account owned by a ‘Payee’ linked to your site.

View bank accounts linked to your site

To view the bank accounts linked to your site go to Finance > Manage Bank accounts

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All bank accounts linked to your site will be grouped by Payee and a list of bank accounts linked to your site for that payee will be listed within that payee area.

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The icons within the Status column will indicate the status of the accounts:

30.PNGLive and approved: payers are able to pay for payment items linked to this bank account and money can be settled to the bank account.

31.PNGLive awaiting approval: payers can pay for payment items linked to this bank account but
money CANNOT be settled until approval received by ParentPay.

32.PNGwaiting approval from ParentPay: bank account can be linked to payment items, however
payers cannot pay against those services or money be settled for those payment items until the
account is set live by ParentPay.

33.PNGPlease confirm details: bank account has been setup but you have not confirmed the
information supplied is correct therefore you are unable to link it to any payment items. You
need to click on View/edit this account and click on Edit these details in the ‘Account
details’ area on screen in order to confirm the account details are correct.

Account nickname: how you want to refer to your bank account in ParentPay to ensure users know which account it is.

Account name: the name of the bank account as it appears on your bank statement, cheque book etc.

Replace account: from the actions field you can select ‘replace account’ if you want to update the bank account currently linked to payment items with your new account. Any changes will take effect over night.
View Settlement Statement: from the actions field you can also view the collection service statement for your selected bank account

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