• Set up your bank accounts

    -- > Now that you have created your farm business, the next step is to set up your bank account(s). You will need to set up a bank account for each account that you use in your farm business and want to record in Cashmanager RURAL.

    Step 1: Click on Transactions to go to your Transactions screen.

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    Step 2: Go to the Bank Accounts Screen.

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    1. Click on Setup.
    2. Click on Bank Accounts.

    Step 3: Click on Edit to enter your bank account details.

    -- > Account 1 will be created by default. You will need to edit this default account to add information like the bank account name and number.

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    Step 4: Enter your bank account details.

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    1. Enter the account Description, Balance and set the Overdraft Limit.
    2. Enter the Feed and Direct Credit Information, Bank Account Number, Account Name, Bank Name and select the Bank from the dropdown (If your bank is not listed, then leave the selection as None Selected).
    3. Click OK.

    Note: Bank Feeds are a secure connection to your bank that allows transactions to simply arrive in your farm database daily. To learn more, click here.

    Once you have added your bank account you can add further bank accounts (Step 5) or begin to set-up your Other Party Information.

    Note on Export Code tab:
    Used by your accountant to export data from your farm business to another cashbook format. Each bank account will have its own code.

    Note on Advanced tab:
    Reflects the opening bank balance for each year recorded in your farm business.

    Step 5: Click New if you want to add additional bank account(s) and then follow the instructions outlined in Step 4 above.

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    Now to set-up your bank account (s), you need to set-up your Other Party Information.

    Tip: We recommend you exclude loan and credit card accounts that aren’t directly linked to your farm business, as they can distort your budget cashflows.

    Information required for setting up bank account(s):

    Information Description
    Account Balance Our recommendation is that you start from the beginning of the current financial year when first entering data. Or if you plan to use Cashmanager RURAL part-way through your financial year, enter the opening balance for the month you start, as it appears on your bank statement.
    Overdraft Limit This appears on the Bank Balances Graph and can be set as a Fixed Limit, Yearly or Monthly.
    Feed and Direct Credit Information In order to use the Bank Feed function, you will need to enter the Account Number, Account Name and Bank Name. Then select your bank from the data feed bank drop down box. If you bank is not listed , then leave the selection as None Selected.

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