How to Create Bank and Cash Accounts in Manager.io?

Bank and cash accounts are extremely important accounts that every business needs to have. Creating bank/cash accounts in Manager.io is very easy. All you need is a name for your bank/cash account and you can start creating receipts and payments.

 

Create bank and cash accounts in Manager.io

Click on Bank and Cash Accounts to open bank and cash accounts' page. It will be blank if it is your first time using this tab.

Click on New Bank or Cash Account to add a new bank account.

Fill the fields with correct information.

Name:

Write the name of the bank or cash account here.

Code:

This is an optional field, you can leave this field empty.

Currency:

If you use multiple currency, you can select a currency for your bank/cash account from this field.

Starting balance:

You can fill this field with the bank's current balance or later you can create a receipt. It is up to you, but it's better to create a receipt, because you wouldn't have to deal with suspense account or retained earnings.

International bank account number(IBAN):

Activate this option and enter your IBAN number if your bank account provides you with one. This is optional and will not have any effect on your transactions.

Can have pending transactions:

When you activate this option, you will be able to track the status of your transaction, whether it is pending or cleared. Use this for bank accounts only.

Credit limit:

You can use this option for your credit cards. Activate the option and enter the credit limit if you want to limit your credit. 

Create:

Click Create to save your new bank/cash account. Alternatively, if you want to keep adding more bank/cash accounts, you can click on Create & add another.

Delete:

You can only delete a bank/cash account if you do not have any transactions through that account. 

inactive:

After creating a bank/cash account a new option called inactive will appear. If you don't want this bank/cash account to be used anymore, you can open the account in edit mode and turn on this option.

Below is an example of a cash account created.

After creating your the accounts, you bank & cash accounts page will look like this.

You can create unlimited bank and cash accounts in Manager.io. But, be careful not to overpopulate your accounts to prevent confusion.