In the latest version,
Bank Accounts tab has been removed and all bank accounts will be shown under
Cash Accounts tab.
There are number of reasons for this change.
Easier to decide where account should be created
Since both tabs are very similar in functionality, sometime it was difficult to decide whether account should be created under
Bank accounts or
Bank accounts tab incorrectly implied it should be used for bank accounts only however PayPal accounts and other merchant accounts should be created under this tab too. By having single tab, this ambiguity is removed. Any account which represents cash or cash equivalents should be created under
Cash Accounts tab.
Easier to search all cash transactions
Since all cash and bank transactions have been split across two tabs, it wasn’t possible to get list of all transactions across all bank and cash accounts. This is useful when searching for transaction by amount or description without knowing where it was paid from or received in.
By clicking on the totals under
Cash Accounts tab, it’s possible to see all cash transactions posted across all cash accounts.
Find & Recode feature now works across all cash transactions. No need to do find & record across cash at bank and then again across cash on hand.
Easier to see cash position
By seeing all cash accounts on single tab, it’s easier to see cash position. For most businesses, cash is the king whether it’s in the bank or on hand. There is no good reason to fragment cash across multiple tabs.
Easier to explain how to record cash transaction
New users have been constantly struggling how to receive or spend money. The buttons have been buried deeper in user interface.
Previously the explanation how to receive money would go like this…
Bank accountstab, then if it’s cleared transaction, click on the amount under
Statement balancecolumn, then
Receive moneybutton. If it’s uncleared transaction, click on the amount under
Uncleared depositscolumn, then click
Receive moneybutton. If you are receiving cash, then you need to go to
Cash Accountstab, click amount under
Balancecolumn, then click
Now it should be much easier to explain.
Cash Accountstab and click