Setting up your Bank Register(s) at the beginning of your 30-day free trial

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Click the Banking icon in the sidebar.

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Click the Add Account dropdown.

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Choose which type of account you would like to add from the dropdown list.

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Enter the bank account name and statement balance at the beginning of your financial year. This should be taken directly from your 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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Note that entries made in this section do not affect current year numbers. They are placeholders for reconciliations in the new financial year. It is most transparent to enter the bank statement opening balance, which is easily verifiable, and then enter any known outstanding items to arrive at a true starting balance for the year. 

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For uncleared deposits: Enter the date, reference information, details, and the amount. Continue to do this for every deposit in your previous year that did not clear the bank by the end of the financial year.

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For uncleared withdrawals: Enter the date, check number or reference information, who it was paid to, and the amount.

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When you’re finished adding uncleared transactions, click Save.

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