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

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

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


Click the Banking icon in the toolbar.


Select all or just certain bank accounts then click the Copy Bank Accounts button.


Click the Bank Account Details button 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.


Click the Carry Forward Last Year’s Account Information button. 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.


Click Save.


If the bank accounts have not been reconciled thru the prior financial year, click the Bank Account Details button and manually enter the bank balance and add uncleared transactions from the prior financial year.


Enter the starting 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 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.


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