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Setting up your Bank Register(s) for users starting a new financial year

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Copying bank accounts from the prior year:

Click on the Banking icon in the toolbar.

MoneyMinder assumes you’d like to copy all bank accounts from the prior year. If your accounts are reconciled thru the end of your previous financial year, all uncleared transactions and bank balances will copy forward.

De-select account names you won’t use in the new financial year by removing the check mark from the box.

Click Copy Bank Accounts when you’ve made your selections.

To transfer bank balances and uncleared checks forward, click the green arrow to the right of the bank account name:

Now click the button that says Carry Forward Last Year’s Account Information.

Click Save

Set up new bank accounts:

Click on the Banking icon in the toolbar.

Click Add Bank Account.

Enter the bank account name and starting balance at the beginning of your financial year. This should be taken directly from your bank statement. 

Click Add Uncleared Deposit or Add Uncleared Withdrawal to enter outstanding checks or deposits that were written in the prior financial year but did not clear the bank until after the start of the new financial year.

Note that entries you make in this section do not affect your current year numbers at all. They are here as placeholders for the bank reconciliations. This is a security measure. 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.

For uncleared deposits: Enter the date, who the money was received from, the amount, and a reference number if any. Continue to do this for every deposit that you show as being made in your previous year that did not show on the bank statement.

For uncleared withdrawals: Enter the date, who the money was paid to, the amount, and a check or reference number if any.

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


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6 responses to “Setting up your Bank Register(s) for users starting a new financial year”

  1. Hi there.
    How can I add additional outstanding checks if I accidentally clicked on Save before I was done?

  2. Hi Yessi, you can continue to add those outstanding checks by clicking on Banking > Edit > Add Uncleared Checks. Just be sure to click Save when you want to leave the page.

    • Your EIN is the Employee Identification Number assigned to you for tax purposes. It’s usually formatted like this: 12-3456789

  3. Is there a way that I can import a membership list from an excel spreadsheet

    • Hi James,

      I’d be happy to help you with that. I just sent you a private email with instructions.

      Warm regards,

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