Bank and Cash Accounts
The Bank and Cash Accounts tab is used to manage and track all business bank and cash accounts. Essentially, it's the central hub for overseeing all monetary movements in and out of your business bank and cash accounts.
New Bank or Cash Account
To create new bank or cash account, click New Bank or Cash Account button.
By default, you will see Name and Actual balance columns.
|Name||This is the name of your Bank or Cash Account|
|Actual balance||Actual balance column has the sum of all transactions posted into your Bank or Cash Account|
Use Edit columns button to customize what columns should be visible under Bank and Cash Accounts tab.
Clicking Edit columns button allows you to add more columns to better reflect your business requirements.
|Code||Bank or Cash Account code|
|Control account||Bank or Cash Account control account. This is useful if you are using custom control accounts for your Bank and Cash Accounts|
|Division||If you are using Divisions then this column can show which division the Bank or Cash Account belongs to.|
|Uncategorized Receipts||This represents number of receipts which have been created for the Bank or Cash Account but have not been categorized yet.|
|Uncategorized Payments||This represents number of payments which have been created for the Bank or Cash Account but have not been categorized yet.|
|Cleared balance||Balance of all cleared transactions. Cleared balance should be the same as per your bank statement.|
|Pending deposits||Balance of the deposit transactions that have been created but not not yet cleared on a bank statement.|
|Pending withdrawals||Balance of the withdrawal transactions that have been created but not yet cleared on a bank statement.|
|Available credit||If the Bank or Cash Account represents credit account or an account with overdraft facility, this column shows remaining credit.|
|Last Bank Reconciliation||Date of last bank reconciliation for the bank account created under Bank Reconciliations tab.|
When you select the columns you want to make visible, click Update button to save changes.
Most businesses will use Name, Uncategorized Receipts, Uncategorized Payments, Actual balance and Last Bank Reconciliation columns.
|Name||Uncategorized Receipts||Uncategorized Payments||Actual balance||Last Bank Reconciliation|