When you have made the switch across to Focus you will find that your bank balances are now unbalanced. This is due to a change that now shows your "Focus balance" and your "Bank Balance".
The Bank balance includes everything that has happened at the bank, whereas the Focus balance is everything that is coded and matched. This allows a quick checkpoint to see if you are fully coded up to date or not.
Follow this simple process to get your Balancing set up:
Find the Balancing screen in the directory under Actuals
You will see that two years of transactions are pulled through from Cashmanager Rural into your Balancing screen and you will be notified which ones need attention.
If you input your data manually, you will need to access the past 2 years of bank statements which you can download from your online banking site.
In the Focus screen, scroll right back to the oldest outstanding entry. As long as everything had been balanced correctly in Rural the process will be rather simple from here.
Enter the opening balance as stated on your bank balance. If it matches your Focus balance, then all following monthly balances will also match up. You will need to continue to enter the opening balances to any months that are highlighted.
Once you have completed this for all relevant months you will see that you are all balanced up to date.
Going forward you will only need to check this screen monthly to make sure your account balances. Make sure you action this before you start your GST return.
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