TYPES OF VIRTUAL ACCOUNTS
Each of them serves different purposes
A virtual reconciliation account: helps to facilitate the reconciliation of accounts receivable or accounts payable by assigning unique numbers to each supplier or vendor
A multiple organizational entities account: allows companies to segment governance of their in-house banking processes and to allow ebanking functionality
Multiple legal entities account: offers similar functionality but between different types of legal entities instead of just between departments
A multi-currency account: offers all of the previously listed functionality as well as the ability to handle multiple types of currencies