Step 1, make sure the day is closed
At the till, every cashier ends their shift, counts the drawer and closes the till. See guide 03. Check Payments for anything still pending.
Step 2, run Reconcile
Open Financials, then Reconcile. The page asks whether your own records agree. It compares your cash book with your ledger for each account. It does not check your bank statement.
Each account shows a card with the cash book total, the ledger total and the likely cause. A pill at the top reads All matched, or N to review.
Two fixes are offered.
Post the waiting entries posts payments that were saved in the cash book but did not reach the ledger.
Park this difference for review posts a balancing entry to a holding account, called suspense, so an accountant can look at it later. Use this only when you cannot explain the difference.
Both need accounting permission. A Past fixes list shows what was parked before.
Step 3, check your accounting health
Open Reports, then Accounting health. It flags problems before you close.
Step 4, close the period
Open Reports, Accounting health, and choose the Closed periods tab.
Under Current open period choose Close period.
If there are warnings, a force close is possible. It needs a reason of at least 10 characters and a special permission. You see "Period force closed with accepted warnings."
Otherwise you see "Period closed."
After a period is closed, no one can post or change entries dated in it.
To change a closed period, choose Reopen and give a reason of at least 10 characters.
Closing and reopening need the Advanced accounting add-on and the right permissions. The Accountant role preset does not tick close or reopen, so tick them on the role or use Full access. If you see "Period locking is not initialized", an operator has to set it up for your workspace. Write to [email protected].
Add the accounts you reconcile
Open Cashbook or Financials, Accounts, and choose Add account. The types are Cash, Bank account, M-Pesa Till, M-Pesa Paybill, Mobile wallet and Other. A bank account asks for the bank name, the account holder and the number.
Deleting an account that has payments deactivates it instead.
Share with your accountant
Invite them from Team, Access, Invite using the Accountant role. It can view, create and edit in Money and Buy, and view Reports, Sell and Stock.
What is not here yet
A bank statement import or bank feed. Reconcile does not check your bank.
A chart of accounts screen where you can add a ledger account. The General ledger and Trial balance show balances.
Opening balances and a year end close.
Messages
You see: Why: What to do
"Period locking is not initialized. Run accounting:backfill-periods for this tenant.": Periods were never set up: Write to support
"The general ledger is not set up for this workspace yet.": No ledger yet: Turn on the accounting feature, or write to support
A date is refused when posting: It falls in a closed period: Reopen the period, or use a date in an open one