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Banking

Add your bank and cash accounts, see their balances and every movement of money, and move money between accounts.

Banking shows a balance for each bank and cash account, your cash position over the last eight months, and every posted movement of money with the account's balance after it.

Who can do this

  • Owners, admins and members can add, edit, archive and restore accounts.
  • Only owners and admins can set or change an opening balance. A member sees "An owner or admin sets an opening balance." in the form.
  • Only owners and admins can record a transfer between accounts or void one. Only they see Transfer.
  • Viewers can only look. In the demo workspace nothing can be changed.

Steps

Add an account

  1. Open Banking under Purchases in the Finance menu.
  2. Click Add account.
  3. Type the Name, and choose the Kind: Bank account or Cash. The kind is set when the account is added.
  4. Choose the Currency the account holds. It cannot be changed once the account is added.
  5. For a bank account, type the Bank and the Account number.
  6. If you are an owner or admin, enter the Opening balance and the date it was true under As at. Use a minus sign for an overdraft. An account in another currency also needs the exchange rate for its opening balance.
  7. Click Add account.

Edit, archive or restore an account

  1. In the Accounts card, open the account's row menu.
  2. Choose Edit, change the details and click Save changes. Renaming an account also renames its account in the Chart of Accounts, unless that one was renamed there.
  3. Or choose Archive and confirm with Archive account. An archived account shows Restore.

Move money between accounts

  1. Click Transfer.
  2. Choose the account it leaves under From and the account it goes to under To.
  3. Enter the Amount, the Date, and any Reference and Notes. If the two accounts are in different currencies, the form asks for the Amount leaving and the Amount arriving, each in its account's currency. Both accounts are booked at the ringgit amount, and a transfer records no exchange gain or loss.
  4. Click Record transfer.

Both accounts change at once and the transfer gets a TR- number. It cannot be edited afterwards, only voided. To void one, open the menu on either side of it in Transactions and choose Void transfer.

Find a movement

Use the search box, the account list and the Reconciliation list in Transactions. View all shows every row and Export downloads them. The Status column shows Reconciled or Unreconciled only for a bank account that has a bank statement in Finance. Importing statements is not on this screen yet.

Other payments are changed on the screen that recorded them. New receipt takes you to Cash Receipts.

Common problems

  • "Only an owner or admin can set or change an opening balance. If you are one, sign in again with your second step."
  • "This account has payments that are still to be paid or waiting for approval. Pay, reject or delete them, then archive it."
  • "Another bank or cash account already has that name. Archived accounts keep their names."
  • "Choose two different accounts."
  • "A transfer goes between a ringgit account and another account. …" To move money between two accounts in other currencies, go through a ringgit account.
  • "The account this is on has been archived. Restore it on Banking, or use another account, then try again." This appears on other screens when money is recorded on an archived account.

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