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Creating a cash fund

In Cashflow, cash funds are virtual accounts that represent cash. These funds can be a petty cash fund or money in a deposit box that you haven’t deposited into a bank account.

Creating a cash fund account

To create a cash fund account,

Create a cash fund
  1. In the main menu, we go to Bank, then click on Bank Accounts.
  2. In the Bank account list, click on the (+) Button, then click on New Cash Fund.
  3. In the New Cash Fund screen, type a Name or Alias
  4. In the Ledger Account section, choose to Create a New ledger account
  5. Choose the currency, set the opening balance, the date of balance, and choose the opening balance ledger account.
  6. Once you complete all the information, click Save.

[3] Name or Alias: In the Name or Alias field, we type a name that helps us to identify this fund like “Petty Cash Fund”.

[4] Ledger Account: In the ledger account field, you can choose to Create a New ledger account or Choose one from the chart of accounts.

Choosing an account is useful only if the account already exists in the chart of accounts, and if we want this cash fund to be its auxiliary.

Important: If you are not a bookkeeper, accountant, or do not understand how to do this, I highly recommend choosing the Create New option.

[5] Currency: The Currency field sets the fund’s currency. For example, if you have cash in different currencies, you can add a cash fund for each currency.

[5] Opening Balance: This sets the cash fund’s opening balance and source of funds at the current date or at the beginning of the accounting period.