Balancivo · Getting started
Add a bank or card account by hand
Add a checking, savings, card or loan account with the date your books start and the balance on that day.
Who can do this: Owners.
Read the transcript
The Accounts page lists every bank account, card and loan your organization uses. It's under Setup in the menu. Click Add account to add one by hand. Give it a name you'll recognize. You can add the bank and the last 4 digits too. Choose its type, like Checking, Savings, Credit card or Loan. This one is Savings. Books start on is the first day Balancivo tracks this account. January 1 of this year works for most people. Enter the balance on that day. It's the ending balance on the statement just before your start date. For a credit card or a loan, this box asks for the amount owed instead. Click Save account. Your new account and its balance today now show in the list.
Every transaction belongs to an account: a checking or savings account, a credit card, a loan or cash. Add an account by hand when you'll import statements for it, or before you connect a bank. Each account needs a start date and the balance on that date, so Balancivo's balance matches the bank's.
Before you start
- Have the bank statement for the month before your start date handy. You'll need its ending balance.
Steps
- Go to Accounts. It's under Setup in the menu.
- Click Add account.
- Fill in Name (for example, Operating checking) and, if you like, Bank and Last 4 digits.
- Choose the Type: Checking, Savings, Credit card, Loan, Cash, Other asset or Other liability.
- Set Books start on. This is the first day Balancivo tracks the account. Most people use January 1 of the current year.
- Enter Balance that day. Use the ending balance from the statement just before your start date. For a credit card or loan, the label reads Amount owed that day: enter what was owed.
- Click Save account.
Good to know
- The opening balance is the balance at the start of your first day, before any of that day's activity. On many statements it's the beginning balance of the first month you import.
- If the account was overdrawn, enter a minus sign, like -23.76.
- Card and loan balances show what's owed as a negative number on the Accounts page.
- Balance today is your opening balance plus every transaction since.
- To change an account, click Edit next to it and then Save changes. Changing the opening balance updates every balance in the books; imported transactions aren't touched.
- To stop using an account, click Edit, then Archive account and Archive with its name. It disappears from Accounts and Import, but its transactions stay in the books and past reports.
- Only owners can add or edit accounts. Bookkeepers can see them.
- Next: Import statements or Connect your bank.