Opening balances: money on bank accounts and in cash desks
On this page
The "Cash" tab of the "Opening balances" document records how much money is on bank accounts, cards and in cash desks on the start date. Click "Add", choose the account or cash desk, enter the amount in that account's currency and save the document.
Why enter cash balances
Opening cash balances tell Bimp how much money the company has at its disposal on the start date: on bank accounts, cards and in cash desks. The cash flow report, liquidity control and payment planning depend on them.
Example. On the 1st, the office cash desk holds 50,000 UAH and the bank account holds 120,000 UAH. After you enter them, the director immediately sees a total balance of 170,000 UAH and can plan purchases.
Before you start
Create all accounts and cash desks in the directories, otherwise they will not be in the dropdown list: Bank accounts and cash desks. Also create the Opening balances document, see Opening balances.
How to fill in the “Cash” tab
Open the Opening balances document, go to the “Cash” tab and click Add.
- Choose where the money is held. It can be a company bank account (IBAN), a corporate card, an office or shop cash desk, or the manager’s safe.
- Enter the exact amount that is on this account or in this cash desk on the document date.
- Check that the amount is in the currency assigned to this account.
- Repeat for every account and cash desk and click Save.
How to check the result
Open the Cash flow report: it shows the total of all funds by account and cash desk. Compare it with bank statements and the actual cash in the cash desk.
FAQ
In which currency should I enter the balance amount?
In the currency of the account or cash desk the balance belongs to. If the account is in dollars, enter the amount in USD.
Why is the account or cash desk I need not in the list?
They must be created beforehand in the directories of bank accounts and cash desks. See "Bank accounts and cash desks".
When is it best to enter cash balances?
At the end of the working day or in the morning before the first operations: then the amounts in Bimp and in reality match.