Bank and Payment Details
How bank fields and VAT settings work, including what to complete, what can be left blank, and where those details matter later.
The Bank Information and Finance Options tabs in Settings > Organisation Information store the financial identity of the business. Some teams fill every field because they print bank details and VAT details regularly. Others only complete the parts they actively use.
Bank Information Fields
- Bank Name: the name of the bank account holder's bank. Use the formal bank name you want staff and customers to recognise.
- Account Number: the account number customers should pay into when you are giving bank-transfer instructions.
- Sort Code: the UK sort code for that account.
- IBAN: useful when you need international bank details. Leave it blank if your business only needs domestic bank information.
These fields can stay blank if you do not show bank-transfer instructions on your documents. If you do use them on invoices, worksheets, or templates, keep them current so staff are not copying outdated payment details into customer communication.
VAT Registration Fields
- VAT Registered: switch this on only if this business is genuinely VAT registered.
- VAT Number: becomes required as soon as the VAT Registered switch is turned on. This is the number customers and tax reports should recognise for the business.
Turning VAT registration on does more than fill a profile field. It informs the wider app that this business is VAT-aware, which matters when pricing, invoices, and other accounting flows need to reflect VAT status consistently.
When To Leave Things Alone
- No IBAN: fine for UK-only businesses that never need international bank instructions.
- No VAT number: only acceptable while VAT Registered is off.
- No bank details: acceptable if you collect payments another way and do not need bank details on documents.
Related articles
- Organisation Information Screen: the wider screen these tabs sit on.
- Payment Providers Screen: the next step if you are also reviewing how the business accepts payments.
- Print Flow: helpful if you want to see where bank and VAT details can matter on customer-facing documents.