If you use a credit card for your business, we suggest you set it up as a bank account in Agrimaster.
In instances where you do not clear (payout) the closing card balance each month, it is definitely recommended to add as a bank account. If not, it may be hard to enter and track the expenditure.
The benefits of setting up a credit card as an account are;
- If you are trying to find an expenditure item, you can use find & edit to search the business name.
- You can save time reconciling using the auto reconciliation feature
- You can track the amount owing if the closing balance is not cleared to nil at the end of the month.
- Credit card accounts can be added to your file at any time and deactivated when no longer in use.
- Start at the Home Page
- Click Setup & Tools
- Click Cashbook Setup
- Click Bank Accounts
- Where Bank Accounts do not exist, you will be in ‘Add New’ mode
- If Bank Accounts exist, click the Add New icon or press F6 to switch to 'Editing' mode
- Complete the required details where the cursor appears. Press Enter or the Tab keys to progress through each field
NOTE: For Credit Cards, you do not need to put in the BSB; just the credit card number in the A/c number field
- Ensure opening balances and As At dates are correct as per your credit card statement. If the Bank account is open, ensure the check is marked in the Account Active box.
- Click the green tick, press F10 or click or to save data.
- Repeat the above format for additional Credit Cards that require adding to the file.
- If the balance is in DEBIT (e.g. if you still have an amount owing at the beginning of the As At month), make sure it is entered with a minus sign. E.g. -1000.00
- "Working Account" is defined as the account you most commonly used to pay your bills and deposit your income.