Streamline Your Finances: Effortless way to Managing Multiple Bank Accounts in Invocreto

Simplify Managing Multiple Bank Accounts with Invocreto

Managing payment records across multiple bank accounts can be frustrating. Tracking balances, maintaining accurate records, and ensuring account integrity are critical for any business but for small and medium businesses, entrepreneurs, and small teams, this often becomes a major challenge.

Many business owners struggle with complex accounting terms and processes, which adds to the confusion. Invocreto is built to solve these problems by streamlining everyday financial operations through simple and practical tools.

When we began our first partnership venture in 2015, we started with just one company and a single current account. With little knowledge of accounting processes, we often used personal debit and credit cards for business expenses like domain and hosting purchases. Over time, this led to scattered transactions and a stressful audit process when reconciling records with our statutory auditor.

Invocreto is designed to prevent such situations.

All Invocreto accounts are backed by a double-entry ledger system, ensuring every transaction is recorded accurately—down to the last paisa. This makes managing multiple bank accounts more reliable, organized, and far less prone to errors.

With Invocreto, you can:

• Manage multiple bank accounts from one dashboard
• Record payments against specific accounts
• Issue refunds directly from the selected account

Invocreto makes multi-account management simple, transparent, and stress-free—so you can focus on running your business with confidence.

Managing Account in Invocreto

Invocreto By getting started with Invocreto, on the “Accounts” stage, you can see something like the following picture. The journey to managing multiple bank accounts with Invocreto begins at this stage.

Here you get a default “Cash” account, which is System account. You can add more accounts of following types

• Cash
• Current Bank Account
• Credit Card
• Debit Card
• Cash Credit
• and more…

You can select the bank your account belongs to for beautiful overview of your accounts. You can add new account with desired opening balance or keep it Zero. The accounts are managed with double-entry ledger system to ensure highest integrity of your accounts.

For the sample purpose I will add a new account with Rs. 1000 balance in it.

Recording payments to Account

Whenever a business makes a financial transaction, be it a payment against a sales or purchase invoice or a refund, it is important to record it to the correct account to ensure good reconciliation. You can follow on how to create an invoice from How to Create and Send Invoices Through Invocreto: A Step-by-Step Walkthrough.

As you can see in above image, we can choose Account, Payment mode and other essential details required to record a payment.

In Payment mode you can liberally choose from

• Cash
• NEFT
• RTGS
• UPI
• Cheque
• DD
• and more

Once we record a payment we can head over to Settings > Bank Accounts and check the updated balance as in following image. If you’re already logged in you can access settings by clicking here and navigating to “Bank Accounts” section

We can see the account is very well updated with expected balance. In same manner we can process refund from an account, and it shall reflect the correct balance. Managing multiple bank accounts has never been so easy.

Such recorded payments and refunds will issue their own vouchers which can later be downloaded from invocreto dashboard itself.

Conclusion

In this article I have explained how Invocreto helps Managing Multiple Bank Accounts for business owners. Invocreto uses double-entry ledger system to ensure the integrity of your accounts. You can add as many accounts as necessary. Invocreto is designed to solve problems SMEs face in India and does not charge based on number of accounts or customers / vendors.

Invocreto is free to use SaaS application designed for SMEs in India facing issues managing their businesses’ accounts, invoices and reports. We’re entitled to resolving the issues India’s MSME’s. By providing solution for managing multiple bank accounts with Invocreto we’re emphasize our commitment.