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

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

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Click Banking in the sidebar.

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Click Bank Account Details 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 Carry Forward Last Year’s Account Information. 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 bank accounts have not been reconciled through the last day of the prior financial year, click 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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