IB SolutionsGlobal

Chapter 15

Financial Accounts

This is where cash, bank, and mobile money balances live, and how money moves between them.

15.1 Cash, bank, and mobile money accounts#

  • Cash — every branch has its own Cash account (a branch's physical till), created automatically when the branch is created and named after it, e.g. “Kasoa Branch Cash Account.” Cash accounts can't be created by hand or moved to another branch.
  • Bank and Mobile Money — added by you. In a multi-branch business, each can be Company-wide (all branches) or tied to one branch. Only company-wide users can create or edit a company-wide account; a branch-level admin picks one of their own branches.
  • Suspense — the holding account used by the Suspense Account feature (Chapter 18). It isn't offered when choosing an account to pay into or out of.

15.2 Adding an account#

  1. Finance → Financial Accounts → “+ Add Account.”
  2. Enter the Account Name, choose an Account Type (Bank or Mobile Money), and fill in Provider and Account/Phone Number.
  3. In a multi-branch business, choose the Branch: “Company-wide (all branches)” or a single branch.
  4. Enter the Initial Opening Balance.
  5. Click “Create Account.”

15.3 Moving funds between accounts#

  1. Click “🔄 Move Funds.”
  2. Choose a Source Account and a Destination Account (they must differ) and enter the Amount.
  3. Add optional Transfer Charges/Fees and Notes.
  4. Click “Confirm & Move Funds.”

15.4 Account ledger#

“View Ledger” on any account shows its full transaction history, filterable by Type and date range, with a “⬇ Export CSV” option (Growth+).

15.5 Counting the cash#

At closing, count the cash in your branch's drawer and enter the total. The system compares it with what the drawer should hold at that moment, the branch's Cash account balance, and records any shortage or overage. Admin and Staff find it under Finance → 💵 Count Cash; cashiers next to 🛒 POS at the top of the screen. It's also on the Daily Cash Report (section 19.5).

Counting the drawer#

  1. Open 💵 Count Cash. If you can count more than one branch's drawer, choose the Cash drawer.
  2. Count every note and coin in the drawer, and enter the total in Cash counted.
  3. Add a Note if you need to, for example the reason for a shortage.
  4. Click “Save count” and confirm.

Shortages and overages#

If the count differs from what the drawer should hold, the difference is recorded on the Cash account as “Cash short at count” or “Cash over at count.” The account then matches the cash really in the drawer, so the next count only checks what happened since. Shortages and overages show in the Daily Cash Report and the account's ledger, and every count is in the Audit Log.

Sales after the count#

A count checks the drawer at the moment it's saved. If a customer buys something afterwards, sell as usual: the cash goes into the drawer and into the cash carried forward to the next day, and the next count checks it. The Daily Cash Report shows how much came in after the last count.

Counting blind#

Anyone who can't open Financial Accounts, such as a cashier, counts blind: they don't see what the drawer should hold, before or after counting, or the difference. After saving they see “Count saved. Thank you.” Anyone who can open Financial Accounts sees the result in the Daily Cash Report. Counting blind is the usual practice: the count is what's really in the drawer, not a number made to match.