Dealing with a closed bank account in PocketSmith

If you've recently closed a bank account that was connected to PocketSmith via a bank feed, it's best to unlink the account from the bank feed and zero any remaining balance. This user guide will show you how!

In this user guide 

How to deal with a closed bank account in PocketSmith

When you close an account with your bank, PocketSmith's bank feed connection will still attempt to connect to the account, which can result in a connection error. It's best to unlink the feed from the account and zero any remaining balance.

  • Unlinking the account from the bank feed means that the account and its transaction history will remain, but it will be converted to an offline account
  • Zero the remaining balance. When your account was closed, it is likely that a final transaction was made to balance the account to $0. However, if this transaction happened as the account was being closed at your bank, it won't have been imported into PocketSmith. Therefore a matching transaction will need to be added in PocketSmith to zero the balance here, too.

Unlinking an account from a bank feed

1
Head to the Account Summary page ( Accounts > Account Summary)
2
Navigate to the account you'd like to unlink from the bank feed
3
Click MANAGE ACCOUNT
4
Under Live bank feed, select Unlink feed account

5
You will then be asked to confirm that you would like to unlink the account from the bank feed.

Note

If the closed account is the only account associated with that particular bank feed, then it's best to remove the bank feed entirely.
You can learn how to do this here:  Remove a bank feed


Zeroing the balance of your closed account

1
Head to the Account Summary page ( Accounts > Account Summary)
2
Navigate to your recently closed account and click  MANAGE ACCOUNT
3

Under  Transactions, select Manual input

4
Fill in the transactions details, ensuring that the Amount is equal to the remaining balance and that the transaction type is set to  Debit if the remaining balance is positive , or,   Credit if the remaining balance is negative. Then click Save all transactions

Your account balance should now be zero.


Archiving closed accounts

If you have a number of closed accounts, you may wish to create an archive group. To learn more please see:  Archiving and keeping transactions for old accounts

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