Printed from https://zeropos.shop/help/cash-and-bank-accounts
Cash and bank accounts (Expert)
Keep one account for each till, bank and card, with a live balance, and move money between them. Available in Expert accounting.
Owners can change what each role may do.
Each account (a ledger) has a Live balance that moves with every sale, refund, expense and supplier payment posted to it. Total holdings adds them all up.
Before you start
- Your shop runs Expert accounting (Simple or Expert accounting).
- Have each account's balance on the day you start, from your statement or a cash count.
- Moving money needs the transfer permission: owners, administrators and managers by default. Adding accounts and adjusting balances are for owners and administrators.
Steps
Add an account
- Step 1
Open INSIGHTS › Accounting › Cash & bank accounts and tap New account.
- Step 2
Type a Name, such as HSBC current, and a short Code.
- Step 3
Pick the Type (Bank account, Wise, Cash till, Company card or Other) and check the Currency.
- Step 4
Pick its Region, or Company-wide if every shop shares it.
- Step 5
Type the Opening balance: what is in it today.
- Step 6
Tap Save, then point each payment method at its account (Add a payment method).
Move money between accounts
- Step 7
Tap Transfer, or New transfer on INSIGHTS › Accounting › Transfers.
- Step 8
Pick From and To, then type the Amount and the Date.
- Step 9
Add a Note (optional), such as Cash deposit, and tap Transfer.
- Step 10
Check the result: the transfer is listed on INSIGHTS › Accounting › Transfers, and Live balance changes on both accounts.
Correct a balance
- Step 11
Tap Adjust on the account's row.
- Step 12
Type the Amount: positive adds money, negative removes it.
- Step 13
Type the Reason, such as Bank interest, and tap Post adjustment.
What happens next
- Live balance starts from the opening balance and moves with every sale, refund, expense, supplier payment, card fee, transfer and adjustment on that account.
- A transfer changes both accounts at once and never counts as income or an expense.
- Every adjustment is kept in the activity history with its reason. Total holdings and the Accounting overview update straight away (Read the Accounting overview).
Change or delete a transfer
On INSIGHTS › Accounting › Transfers, tap Edit transfer on its row. Both accounts change together.
Delete transfer puts both accounts back as they were. It can't be undone.
The same screen lists adjustments and opening balances too; filter by Type, Account or dates. It opens on the last 90 days: change From and To at the top to look further back.
What never goes to an account
Store credit and gift-card payments bring no new money in, so they are never posted to an account.
Payroll runs don't post either: log the wages you paid as an expense (Record an expense (including wages you paid)).
An account you no longer use
Tap Archive: the account and its history stay, out of the way. Restore brings it back.
Questions
Is this the same as moving stock between shops?
A balance doesn't match my statement.
I switched to Expert after months of trading. Can past sales count?
Can I change an opening balance later?
If you see this…
On screen
Pick two different accounts.
What to do
Choose a different account under To.
On screen
You need at least two accounts to make a transfer.
What to do
Add a second account with New account.
On screen
This transfer is too old to edit here. Correct it with an adjustment on each account.
What to do
Some older transfers can't be changed here. Use Adjust on both accounts, one positive and one negative, with the same reason.
Good to know
- Taking cash from the till to the bank is a transfer, not an expense: it moves money without spending it.