Setting up your Bank Register(s) at the beginning of your 30-day free trial
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Click Banking in the sidebar.
Click Add Account.
Choose which type of account to add from the dropdown.
Enter the bank account name and statement balance at the beginning of the financial year. This should be taken directly from the bank statement.
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.
Note: Uncleared checks and withdrawals, and deposits are entered on the Bank Account Details screen, not in the register. Because they are from the prior financial year, they do not affect current-year numbers. However, they will appear when reconciling, so they can be cleared in the new financial year.
For uncleared deposits: Enter the date, reference information, details, and the amount. Continue to do this for every deposit that had not cleared the bank by the last day of the financial year.
For uncleared withdrawals: Enter the date, check number or reference information, who it was paid to, and the amount.
When you’re finished adding uncleared transactions, click Save.
I recently because treasurer for our cheer booster club. Currently they are using a paper journal. I would like to integrate our bank account, square and venmo account. It’s asking for my fiscal year. That is 01/01/2024. Is it necessary to go back that far for outstanding items?
Hi Jennifer,
It’s up to you if you want to import transactions from the beginning of the year. If you do, you will have a full year of records in MoneyMinder which could be useful, especially for filing taxes. Often banks only keep about 90 days’ worth of transactions available for importing, but you can download transaction files from your bank and import them from the beginning of the year. Here is a link to the article that shows how to import from transaction files: https://moneyminder.com/knowledgebase/importing-bank-transactions-from-a-qfx-qbo-or-ofx-bank-file-export/
Our organization has 5 major programs that we want to track income and expenses for and produce individual income statements for, monthly and YTD as well as and income statement showing how they roll up into the combined income statement. Is the software capable of tracking income and expenses by program to produce individual statements.
Hi Mark,
You can create separate headings in the budget for each program, and when you run the Treasurer’s Report, you can collapse the headings that you don’t want to see and export only one heading (program) at a time. However, it is all one report, and the totals for each heading will show at the bottom of the report.
Can I opt to not integrate my non-profit’s bank account and rather enter transactions manually and reconcile to my bank statement monthly?
Hi Betsy,
You don’t have to integrate your bank account. It’s just an available option. It works just fine to manually enter transactions and reconcile monthly.
Am I able to adjust the uncleared deposits and pending withdrawals after the fact – in case I input a wrong amount? The previous treasurer hasn’t finalized the prior year’s financials, so I’m waiting for him to finish…but want to get a move on tracking the current years’ financials so I don’t fall behind.
Hi Shan,
Yes, you can enter or edit uncleared deposits and withdrawals from the previous year at any time before they have been reconciled. You can also start entering current-year transactions now, if you want.