Lesson 1 of 3 · 2 min

Your money accounts

Cash in hand, each bank account, a wallet and the card machine: every place money sits, each with its balance.

  1. Every place your money sits is a money account: the cash drawer, each bank account, a JazzCash or Easypaisa wallet, and the card machine's takings on their way to the bank. Every payment, expense and transfer goes in or out of one.

  2. Banking

    Banking shows each one as a card: what's in it in your books, the balance on the bank's latest statement and whether it agrees with the bank, and how many statement lines are left to match. Open one for everything that went in and out, with the balance after each.
  3. Card machine money doesn't reach your bank at once. A card sale lands in Card & wallet payments to settle; when the bank pays it out the next day, less its fee, record what arrived with Move money (from payments to settle to the bank), and the fee as an expense paid from payments to settle.

  4. Banking → Add an account

    A second bank account, or a new wallet? In Banking, press Add an account: give it a name, say what kind it is, its bank and the last few digits of its number, so everyone can tell them apart. It shows in Banking and everywhere you pick where money went in or out.

Try it

Opens Ledger. You'll be asked to sign in first; new businesses get a free week, no card needed.

Add an account, in Banking

Quick check

One quick question. Pick an answer and Leo will tell you how you did.

1. A Rs 20,000 card sale is paid into your bank as Rs 19,600 the next day. How do you record the Rs 400?

Try it in Ledger, free for a week

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