Frequently Asked Questions

In MoneyMinder, all deposits and withdrawals are recorded as income and expense. To handle cash change properly, most groups set up a cashbox or petty cash bank account in the Banking section and use transfers to move funds back and forth. This keeps everything clear and accurate.

Alternatively, you can create a budget category to log the cashbox transactions and adjust the totals out of your income and expense reports if you need to for taxes. Either method works—it’s just a matter of preference.

This article in our help center has more: https://moneyminder.com/knowledgebase/cash-on-hand/

The balance in these accounts should always reflect the amount you have on hand. For example, if you currently hold $100 in gift cards, your statement ending balance should be $100. Once all gift cards have been distributed, you should record a withdrawal for the total value and apply it to the appropriate event category as an expense. At that point, your statement ending balance will be $0.

In MoneyMinder, your budget calculations already include your starting balance. You’ll see at the top of the budget a line that reads “Funds available at beginning of financial year”, followed by your bank account(s) starting balance. There is no need to include this number in your budget, as it is already included in the calculations. Read more about your bank account starting balances here: Transferring your bank balance(s) to the next financial year – MoneyMinder

Groups frequently want to start looking at next year’s budget before the current year is complete. You can do this by adding the next financial year in your Account and editing it there. Want to estimate a starting balance? Enter a starting balance in your bank account and it will update in the budget. When it comes time to roll over your actual numbers you will need to replace the estimates with actuals. Read more about it here: Setting up your Budget for users starting a new financial year – MoneyMinder and  Transferring your bank balance(s) to the next financial year – MoneyMinder

If your starting balance is zero, and you have fully reconciled your previous financial year, you can Carry Forward your balances by clicking on Bank Account Details. You must enter this information manually if the previous year is not in MoneyMinder or hasn’t been reconciled. Read more about it here: Transferring your bank balance(s) to the next financial year – MoneyMinder

Your MoneyMinder balance includes all transactions entered in your bank register. Your bank account balance is a snapshot in time and is unaware of any outstanding transactions, such as checks that have been written and yet to be cashed.

Occasionally, when a bank performs updates (such as security patches, etc.) it can disrupt 3rd party connections with your banking institution. If you are having trouble with connecting to your bank, please follow the instructions, if you are still having troubles, chat in, we’d be happy to help.

 1. Click BANKING in the sidebar

 2. Click BANK ACCOUNT DETAILS to the right of the bank name

 3. Scroll to the bottom and click on the DISCONNECT THIS ACCOUNT  

4. Click the EDIT button and enter your credentials

If you continue to have issues, you can bypass the connection and upload transaction files from your bank to MoneyMinder while the platform provider works on re-establishing the link. Click here for instructions on importing from your bank. How to Import from a QFX, QBO, or OFX bank transaction file – MoneyMinder

It is important for your financial year dates to match the IRS documents when it comes to filing your organization’s taxes. If you have made a change with the IRS and need to change your dates with MoneyMinder, reach out to [email protected] or via Live Chat so we can discuss the best course of action.

You can add as many users as you need to your account. You can find the instructions here: How to Add users to your account – MoneyMinder

As long as the user is on the approver list, any of the roles will give them access to approve. The Reporting role would grant the least amount of access. You can read more about the different security roles here: Account access roles – MoneyMinder