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These functions allow you to quickly input into DEAR the money entering and leaving your bank accounts. You will have to reconcile your bank statements with each transaction in DEAR. Learn more about bank reconciliation. For money movements related to prepayments, see Customer Credits or Supplier Deposits for further information. 


NOTE: If you are a Xero or QBO user, bank reconciliation will take place through your accounting system.


Prerequisites:


Table of Contents


Money Operation permissions

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DEAR offers fine-grained control over user permissions. DEAR allows you to set the following permissions for money operations (Settings → Users and Roles), under Financial:


  • Spend/Receive Money: (Read-only) View the list of money operations, (Full Access) view the list of money tasks, create and save new money operations (Spend Money, Receive Money, Transfer Money). Unapproved money tasks can be voided. 
  • Approve Spend/Receive Money: Approve money tasks. The Complete button now appears in the top-right corner of the money tasks screen. Spend/Receive money permission must be granted with full access. 
  • Undo: All of Spend/Receive Money, but can also Undo approved/completed money tasks. Spend/Receive money permission must be granted with full access. 
  • Void: All of Spend/Receive Money, but can also Void approved/completed money tasks. Spend/Receive money permission must be granted with full access. 


Spend Money

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Use Spend Money in DEAR to quickly enter transactions for money going out of your organisation's bank account. A Spend Money transaction can be created from the Spend Money function or directly from the bank account.


To create a Spend Money transaction (1):

  1. Go to Financials New Spend Money.
  2. From the menu, select the Bank Account to spend money and the relevant Account to classify the payment. 
  3. Enter the Date, Tax Status and an optional Reference.
  4. Click the or Add more items button to enter a new transaction. If the payment does not relate to a specific stock/service, you can simply enter any description into the field and save the document. 
  5. Enter information into the Line fields.
  6. Click Complete.


OR


To create a Spend Money transaction (2):

  1. Go to Financials  Bank Accounts. 
  2. Click the bank account you're spending money from.
  3. Click Spend Money when prompted.
  4. Enter information into the Spend Money fields, as shown in example (1).
  5. Click Complete.


NOTES:
Bank fees and single payments are classed as a single item, Qty should be left as 1.00.
You can enter positive, negative or zero amounts into the Unit Price field, but the overall Spend Money transaction cannot be negative.


Receive Money

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Use Receive Money in DEAR to quickly enter transactions for money going into your organisation's bank account.


Creating Receive Money transactions from the Account Transactions tab is the quickest way to create multiple Receive Money transactions at a time.


To create a Receive Money transaction (1):

  1. Go to Financials New Receive Money.
  2. From the dropdown menu, select the Bank Account to receive money.
  3. Enter the Date, Tax Status and an optional Reference.
  4. Click the or Add more items button to enter a new transaction. If the payment does not relate to a specific stock/service, you can simply enter any description into the field and save the document. 
  5. Enter information into the fields.
  6. Click Complete.

 

OR


To create a Receive Money transaction (2):

  1. Go to Financials → Bank Accounts. 
  2. Click on the name of the bank account you're receiving money in.
  3. Select Receive Money when prompted.
  4. Enter information into the Receive Money fields, as shown in example (1).
  5. Click Complete.


NOTE:
Bank fees and single payments are classed as a single item, Qty should be left as 1.00.
You can enter positive, negative or zero amounts into the Unit Price field, but the overall Receive Money transaction cannot be positive.


Transfer Money

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Use Transfer Money in DEAR to quickly enter transfers between two bank accounts. You don't need to create a transaction in the second bank account (this is done automatically), but you will need to reconcile it with its matching bank statement line. 


More detailed transfers can be created with extra details, for example, memos or attachments.


To create a Transfer:

  1. Go to Financials → New → Transfer Money. 
  2. Enter your bank transfer details.
  3. (Optional) Add attachments.
  4. Click Complete.


To create a Transfer Money transaction (2):

  1. Go to Financials → Bank Accounts. 
  2. Click on the name of the bank account you're receiving money in.
  3. Select Receive Money when prompted.
  4. Enter information into the Receive Money fields, as shown in example (1).
  5. Click Complete.


View Money Task List

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You can view all historical Money Tasks by navigating to Financials Money Tasks


See the details of previous money tasks by clicking on each line.


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