HirePOS can record financial transactions against your individual bank accounts which can then be reconciled with bank statements. You need to set up a list of your bank accounts so when you pay an expense or receive a payment you can nominate which bank account the money has been withdrawn from or deposited to.
How to add a new Bank Account
- From the Main Menu, select Setup > Bank Accounts.
- This opens the Bank Accounts List page, which lists any bank accounts you have already set up.
- Click the New Account button to open the Bank Accounts page.
- Enter the Bank Account Name. (For example: AnyDay Cheque, AnyDay Visa Card.)
- Check the Credit Account box if the account is a credit account (such as credit cards and loans).
- Enter the Bank Name. (For example: NAB, Bendigo Bank, CBA, ANZ)
- Select a company to link as the Supplier and Customer. (Bank; Finance or Loan Provider)
- Set up a new Customer and Supplier via the main Setup menu if required.
- Enter the BSB Number and the Account Number.
- Select Save Changes when completed.
A popular option is to set up a new bank account called EFTPOS Clearing Account and direct all of your eftpos transactions to this account. At the end of each day you can do a new Bank Account Transfer and transfer the total EFTPOS payments received for the day over to your actual business account. This makes it easier to reconcile as you will have one total value for all the EFTPOS transactions for the day.