Changing Bank Accounts Requires a Clean Break in the Setup
When a bank account is already tied to a cash account in MIP®, updating it is not as simple as overwriting a value. The existing bank assignment must be removed entirely before a new bank account is added. Leaving the old row in place creates conflicts that usually surface later during payment creation or file generation.
This matters because MIP relies on a one-to-one relationship between cash accounts and bank setups. If multiple rows exist, the system has to guess which one applies. That guess often shows up as mismatched payments, incorrect files, or errors that are difficult to trace back to the source.
Deleting the old bank assignment first keeps the relationship clean. The new bank account is clearly defined, payments route correctly, and downstream processes behave the way they are supposed to. It is a small step, but skipping it tends to create problems that take much longer to unwind.
This video is for accounting teams making bank changes who want the transition to work without payment issues or cleanup. It is not intended for organizations that layer new bank details on top of old ones and troubleshoot conflicts later.
McGovern Consulting Group provides MIP Accounting® Training and Implementation Services. We focus on setup discipline because smooth operations depend on removing outdated structure, not just adding new information.
If you are changing bank accounts and want the process to go cleanly the first time, schedule time with us to review your setup.
https://mcgoverncg.com/schedule/
If you want to strengthen your MIP fundamentals before making changes, free MIP® fund accounting training is available here.
https://www.freemipfundaccountingtraining.com/
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