Bank Accounts - I know it's been flogged

Hi Lubos

I want to start by saying that I have been a user now for about 5 years and I think what you have created is outstanding.
But in 40 years of working with many different accounting products one thing I’ve learnt is there is no such thing as a perfect solution for everyone.

I am now a retired individual managing my own superfund and personal accounts, so you may see me as a time waster, that’s fine, I get it.

However getting to the point:-
I seen many posts related to Cash At Bank but have been unable to retrieve the relevant discussions you have posted over time.
My problem is this… In Australia Superannuation Funds are subject to an Audit therefore the process is that In prepare my accounts, forward them to the Account who prepares them for presentation to the Tax dept and then they are sent to an external auditor. I run 7 individual bank accounts and I really can’t see why you can’t at least report (General Ledger) on the individual accounts. This I believe is a major flaw. I can see that your system design may the cause of the issue however, It must still be possible to create a TB,BSheet and GL Trans report that shows the Individual account transactions and balances.

All of the time saved working with this brilliant system is lost having to build a GL transaction list to match the account balances.

Am I missing something?

If I understand what you are asking, @keith, yes, you are missing something. Your concerns seem to center around the fact that, by default, all bank accounts are consolidated under a single control account, Cash at bank. But you have total control over this. You can create custom control accounts made up of bank accounts. See https://www.manager.io/guides/9256.

If you create one control account for each of your 7 bank accounts, and assign each bank account to its own control account, they will all show independently in financial statements and reports.

Try it in a test business. If that’s not what you are seeking, please be more specific.

Dear Keith,

The mistake you are making is sending transactions to your auditor so that he can prepare audited reports.

Your accountant should be working off your Manager file and making it perfect so it represents the only books of account of your SMSF - not having two separate files.

Manager has the facility to prepare perfectly good financial reports for an SMSF and all your auditor needs to do is to add a few declarations, notes, and an audit report and you are done.

I have attached a Master File which you can load - it’s all set up for an SMSF presentation.

Do it once and do it well.

XYZ Self Managed Superannuation Fund (Master File).manager (80 KB)

2 Likes

I knew you would have sorted this. Sorry for the inconvenience

His Sam

You have misunderstood my ramblings. The problem was that I needed to have all the individual Bank Accounts showing in the TB etc. Tut has provided the answer.
Thank you for your trouble