M
DownloadReleasesGuidesChatbotAccountantsForumCloud Edition

Starting balance — Bank or Cash Account — Edit

When you first set up your bank or cash accounts in Manager.io, it's important to enter the correct starting balances to ensure your financial records are accurate. The StartingBalance-BankOrCashAccount-Edit form is designed to help you set up these balances effectively. This guide will walk you through the steps to complete this form.

Accessing the Form

  1. Navigate to the Bank and Cash Accounts tab in Manager.io.
  2. Ensure you have already created the bank or cash account for which you want to set a starting balance.
  3. Open the StartingBalance-BankOrCashAccount-Edit form associated with that account.

Completing the Form

The form consists of two key fields that you need to fill out:

1. Bank or Cash Account

Select the bank or cash account you've created under the Bank and Cash Accounts tab. This ensures that the starting balance is applied to the correct account.

2. Starting Balance

Enter the starting balance as per your official bank statement. This amount should reflect the actual balance in your account at the start date you are recording.

Important: Do not include any pending deposits or pending withdrawals in this starting balance. Pending transactions are payments or receipts that have been initiated but not yet cleared by your bank.

  • Pending Deposits: Create these separately under the Receipts tab.
  • Pending Payments: Create these separately under the Payments tab.

By recording pending transactions separately, you can accurately mark them as cleared once they are processed by the bank. This practice ensures that your financial records remain precise and up-to-date.

Finalizing the Starting Balance

After you've entered all the necessary information:

  1. Review the details to ensure everything is accurate.
  2. Save the form to update the starting balance for your selected bank or cash account.

By following these steps, you ensure that your bank or cash accounts in Manager.io reflect the correct starting balances, providing a solid foundation for your financial tracking.