Transferring your bank balance(s) to the next financial year

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Once the bank account(s) have been reconciled thru the last day of the financial year, the bank balance and uncleared transactions can be carried forward to the next year.

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Click the Banking icon in the sidebar.

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Select all or select only certain bank accounts to be copied. Click Copy Bank Accounts.

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To carry forward bank balances and uncleared transactions, click the Bank Account Details button to the right of the bank account.

Note: If there is a checkmark next to the Bank Account Details button, that means the account is reconciled through the end of the last financial year and banking can be carried forward into the new financial year.

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Click the Carry Forward Last Year’s Account Information button. This will carry forward the bank balance and any uncleared transactions from the prior financial year.

Note: This will replace the current balance and uncleared transactions with those copied from the prior year.

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Click Save.

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If the bank accounts have not been reconciled through the last day of the prior financial year, click the Bank Account Details to the right of the bank account and manually enter the bank balance and uncleared transactions from the prior financial year.

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Enter the statement balance at the beginning of the financial year. This should be taken directly from the bank statement. 

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Click Add Uncleared Deposit or Add Uncleared Withdrawal to enter outstanding deposits or withdrawals from the prior financial year that did not clear the bank by the start of the new financial year.

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