Cashflow Manager Basics

Cashflow Manager records the money in (Receipts) and money out (Payments) transactions of your business. You can also reconcile your bank and cash transactions to ensure that your records are accurate and in preparation for lodging your GST and BAS reporting.  

Before you start entering your records, the first step is to ensure you have added your bank accounts for the business.  
 

Adding a Bank Account 

If you have one starting bank account in your business file, click on Money In or Money Out on your far-left side.

1. Select [Tools] and then [Options] 

Please Note: You can also click on the 5th icon in the top left corner of Cashflow Manager which will bring you straight into the [Options]  menu.

2. Click on [Duplicate Account] on the left side and enter your new bank account name in Record a name for the Duplicate Account box. 

3. Click on [Save].

 

You can now start entering your business transactions in the Money In and Money Out sections. Money In transactions are your income and Money Out records are your expenses.

Next, customise your columns so that you can allocate your transactions to match your GST and BAS Statement.
 

Customising Columns

1. Click on the customise columns icon, which is the 4th icon in the top left corner of Cashflow Manager.
2. Click on the [Add New] button on the right side and fill out the relevant details for your new column.

 

Please Note: If you are unsure about what to fill out, it’s important you consult your accountant, as your columns will impact your GST and Business Activity Statement (BAS) figures that will be lodged to the Australian Tax office (ATO).

 

For more information on Customizing Columns click here.

 

Once you have setup your columns, you can enter your business transactions using two methods:

• - The first method is to simply type in your transactions.
• - The second method is to import an online bank statement in a .CSV file format.

For more information on Recording Money in and Money Out click here.
 

Reconciling to your Bank Statements

The Bank Reconciliation tab on the left side is used for reconciling your business transactions against your bank statement. This is to ensure your records are accurate and to help you pinpoint any transaction errors. You can reconcile to a paper bank statement or import your online bank file for the calendar month.

To prepare, note down your opening and closing balances for the month and then select the Bank Reconciliation tab and click on [Settings].

Please Note: If this is the first time you are reconciling, the settings section will already be open for you.

Select whether you are reconciling to a paper bank statement or to an online

bank file.

For more information on Manually Reconciling your Bank Statement click here.
For more information on Importing a .CSV Bank Statement click here.

Cashflow Manager offers the flexibility of typing in your transactions and then importing your online bank statement, which will enable Cashflow Manager to match your typed transactions against your online bank statement, or simply importing your online bank file, without having to type in your transactions.

The Cash Reconciliation is used for reconciling your Money In and Money Out cash transactions, to your actual balance of cash on hand. Depending on your business this type of reconciliation may be optional.

A discrepancy in either the bank or cash reconciliations means that your records do not match up to your bank statement.

For more information, if you are unable to reconcile click here.

 

Budgets

Cashflow Manager provides an account budget and a business budget.

The account budget is based on each bank account for the business.

The business budget will be based on the entire business, including all bank accounts.

This will enable you to determine whether you are under or over your budget and to consider how you can make improvements.

For more information on Account-based Budgets click here.
For more information on Business Budgets click here.
 

Reports

Your BAS and GST reports are located in the Reports tab on the left side menu.
This allows you to control what bank accounts are included and the reporting date range. You can select a month, year, quarter or your own custom date range.

Generally, your BAS and GST reporting will be lodged quarterly or monthly, depending on how your business is registered with the ATO. There are also multiple reports available to provide information to your accountant.

For more information on various Reporting click here.

Cashflow Manager provides electronic BAS and GST reporting. You also have the option to print, save, and email your reports as needed. Before you lodge any reporting, it’s important to ensure that your business transactions have been entered and allocated correctly.

To report electronically, you will need to check that you have registered your business with the ATO and that you have a MyGovID. There are currently two ways to lodge your reporting.

ATO Business Portal: Lodging online in this way will allow you to login and to lodge your figures using the ATO Business Portal website.

SBR (Standard Business Reporting): Which allows you to lodge your reporting and is done directly from your Cashflow Manager program, making your lodgement a breeze.

For more information on lodging BAS online via the ATO Portal click here.
For more information on lodging BAS online via SBR click here.

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