Banking and reconciliation

Every bank account, cash box and petty cash float is set up in Finance → Banking, over its ledger account.

1. 1

   Your accounts and transfers

   Go to Finance → Banking. The top shows what's in the bank, in cash and in petty cash - your cash position. Add account sets up a bank account, cash, or petty cash (with its custodian, float and the bank account it's topped up from).

   Transfer moves money between them - for example cash withdrawn to the petty cash box.

   

   Full size

2. 2

   Petty cash

   Open the petty cash account. The custodian selects Record spending for each payment, with the expense account - keep the receipt with the voucher number on it. Count the box regularly; any difference from the books must be explained. Top up asks for approval to refill it from the bank.

3. 3

   Import the bank statement

   Open the bank account and select Import statement, with the CSV file from your bank. The first time, match its columns - TinERP remembers them. The lines must add up from the opening to the closing balance, so a file read the wrong way round is refused.

4. 4

   Reconcile

   Select Reconcile. Match each statement line with what's in the books - TinERP suggests matches with the same amount within a week. For what the books don't have yet, such as bank charges, stamp duty or interest, say what it is and choose the account: the entry is made and matched in one go.

   When every line is explained and the Difference is zero, select Finish and lock.