Bank Accounts & Virtual Wallets

Bank accounts track the cash flow and current balances of your business. Witstally supports both real bank accounts and virtual wallets.

Types of Accounts

1. Real Bank Accounts: Linked to a specific bank, requiring an account number (IBAN) and currency. Used to import official bank statements.
2. Virtual Wallets: Used to track cash, payment processor balances (e.g., Stripe, PayPal), or internal ledgers. They do not require a bank link.

Account Properties

• Name: Custom identifier (e.g., “USD Operational Account”).
• Initial Balance: Starting balance when beginning tracking in Witstally.
• Currency: The base currency of the account (cannot be changed after creation).