Set up your bank accounts

To make sure your accounts reconcile with the money in your online bank accounts, it's important to add and set up bank accounts in IRIS Elements Cashbook.

• Set up a current account and savings account to monitor payments received and money going out. You can easily transfer money between these accounts to match your online banking accounts.

• If you issue or receive cheques, set up a cheque clearing account to allow for cheque clearing times.

• If you have loans or credit cards, set up accounts for these so you can track the payments and balances.

• If you work in retail, set up accounts to track your cash takings.

• Finally, if you have a petty cash tin, create a petty cash account to track money in and out of the tin.

Once you've added the bank accounts, you need to activate bank feeds to link your online bank account to the applicable bank account in IRIS Elements Cashbook.