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Configure Balance Accounts

Balance accounts allow you to track payments for both issued and received invoices. Every time you record a payment and associate it with a balance account, FatturaSmart automatically generates the corresponding journal entry.

What are Balance Accounts for?

Balance accounts represent your collection and payment methods:

  • Bank account
  • PayPal account
  • Cash register
  • Corporate credit card

Practical example: You received payment for an invoice in your BankXYZ account. By recording the payment and selecting the “BankXYZ” balance account, FatturaSmart automatically creates the journal entry with the date, amount, and document reference.

Access the configuration

  1. Log in to FatturaSmart
  2. Click on Profile in the sidebar menu
  3. Select Balance Accounts

Create a new Balance Account

  1. Click the “New Payment Account” button in the top right
  2. A dialog window will open with a form

Fill in the fields

FieldRequiredDescription
Name✅ YesAccount identifier name (e.g., “Bank of America”, “PayPal”, “Cash register”)
DescriptionNoAdditional useful information (e.g., IBAN, bank name, internal notes)
  1. Click “Save” to create the account

Tip: Use short, recognizable names. You’ll see these names in dropdown menus when recording payments.

Edit a Balance Account

  1. In the balance accounts list, find the account you want to edit
  2. Click the “Edit” button (pencil icon) in the Actions column
  3. Modify the desired fields
  4. Click “Save” to confirm the changes

Delete a Balance Account

  1. In the balance accounts list, find the account you want to delete
  2. Click the “Delete” button (trash icon) in the Actions column
  3. Confirm the deletion in the dialog window

Warning: Deleting a balance account is permanent. Previously recorded journal entries will remain, but they will no longer be associated with a specific account.

Where Balance Accounts are used

Payment recording

When you record a payment on an invoice (issued or received):

  1. Open the invoice
  2. Click “Register payment”
  3. Select the Balance Account from the dropdown menu
  4. Fill in the other fields (amount, date, notes)
  5. Confirm

The payment is recorded and the journal updates automatically.

Journal

In the Journal section you can:

  • View all financial movements
  • Filter by Balance Account to see only movements for a specific account
  • Export filtered data to Excel or CSV

Balance Account Examples

Here are some common examples:

NameDescription
Chase BusinessAccount #XXXX1234
PayPalbusiness@mycompany.com
Cash registerOffice cash - Main location
StripeBusiness account
Wire transfersEUR account for EU clients

Practical tips

How many accounts to create?

Create a balance account for each payment method you use regularly:

  • ✅ One account for each bank account
  • ✅ One account for cash
  • ✅ One account for each digital payment service (PayPal, Stripe, etc.)

Naming conventions

Use consistent and recognizable names:

  • ✅ “Wells Fargo - main checking”
  • ✅ “PayPal Business”
  • ❌ “Account 1”, “Account 2”

Frequently asked questions

Can I use the same account for collections and payments?

Yes. A balance account can be used to record both collections (issued invoices) and payments (received invoices). The journal will automatically distinguish between income and expenses.

What happens if I don’t select a balance account?

You can record a payment without selecting a balance account. The movement will still appear in the journal, but without association to a specific account. This makes it harder to filter and analyze data later.

Can I rename an account that’s already in use?

Yes. You can modify the name and description of a balance account at any time. Previously recorded movements will maintain the association with the updated account.

Next steps

After configuring your balance accounts:

Need help?

If you have questions about configuring balance accounts:

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