Connecting your Company's Bank Account

The first step in reimbursing your employees is to connect the company's bank account in Abacus. This will allow ACH transfers from the company bank account into employees' bank accounts.

Please Note: Depending on your ACH filter setup, you may need to provide you bank with Abacus' originating IDs so that they can remove ACH filters in order to process reimbursements using Abacus.

Connecting your Company's Bank Account

To connect your company bank account:

1. Click the Gear in the top right corner to open the Company Settings page.

2. In the sidebar, select Bank Accounts.

3. Select the Reimbursement Bank Account tab, then click the Connect Company Bank button. 

You will be given the option to connect to a supported bank by logging in with your online banking credentials or by entering your account and routing numbers.

Connecting a bank using your credentials

To connect to a bank account with one of the major financial institutions listed below, select your bank name from the available list and enter your username and password. You can either click ‘Next’ or select ‘Deposit Verification.’

If you click ‘Next’ you will be prompted to answer the multi-factor verification questions that are required by the bank account (this might be a security question such as ‘What town were you born in?’). If you are unsure of what the questions and answers are, you should select ‘Connect to any US bank manually.’ This will take 2-3 days and requires you to verify the trial deposit amount within Abacus.

Connecting a bank by manually entering account information

To connect to all other US-based bank accounts, you will need the following information: name on the account, routing number, account number, and account type.

Verify the bank account

Once you have input your bank account details, Abacus will send you trial deposits, the amounts of which you will need to input on the Company Bank Account page to verify the account. Learn how to input that information to verify your bank account in Abacus.

Unlink Your Current Bank Account

In order to change your company's bank account in Abacus, you first need to unlink your existing account and then you need to add a new account.

1. Click the gear in the top right corner to open the Company Settings page.

2. In the sidebar, select Bank Accounts.

3. On the Reimbursement Bank Account tab, click Unlink Bank below your connected bank account information.

4. A pop-up message appears indicating a connected bank account is required to process payment. You will not experience any disruption in payments as long as you add a new bank account before your next billing period.

5. Set a date to unlink your bank account, and avoid approving any expenses after this date.

Add a New Account

Once you have unlinked your account, follow the steps at the top of the page to add a new bank account.

After you have added and verified the new bank account, approve the expenses to start the reimbursement process.

Please Note: Set a date to unlink your bank account, and avoid approving any expenses after this date. After you have added and verified the new bank account, go ahead and approve the expenses so they start the reimbursement process.