Add bank accounts, cash and e-wallets

Every payment you receive or make goes into a bank account in GodoERP. Add one for each real bank account, your cash on hand and any e-wallet such as GCash or Maya.

Where: Banking › Bank Accounts › Add Bank Account.

Steps

1. Account Name: a name you will recognise, for example BDO Savings or Petty Cash.
2. Linked Chart of Account: the asset account this balance lives in (for example Cash in Bank). Each bank account should have its own ledger account so balances don't mix.
3. Bank / Provider, Account Type, Account Number and Account Holder.
4. Opening Balance and Opening Balance Date: the balance on the day you start using GodoERP, from your bank statement.
5. Tick Active account, then Save Account.

Moving money between accounts

Use Banking › Transfers, for example when you deposit cash into the bank. A transfer moves the balance without counting it as income or expense.

Tip: Start on the first day of a month, so your opening balances match the month-end bank statement.