Tracking sales and stock is only half of running a business, the other half is knowing where your money is. Pay Kar has a Banking and Finance section for exactly this, so your bank accounts, cash, and transactions are as organised as your inventory. Here is how to use it.
Setting up your bank accounts
- In the sidebar, open Banking and Finance and go to Bank Accounts.
- Add each account you use, your business bank accounts, and their opening balances.
- These accounts are now available to record payments against, so you always know how much is where.
Recording bank transactions
Under Bank Transactions, you record money moving in and out of your accounts, deposits, withdrawals, transfers, and payments. Keeping these up to date means your recorded bank balance matches your actual bank balance, so there are no surprises. Some businesses also use Import Statements to bring in bank activity in bulk rather than entering it line by line.
Petty cash
Most shops have a petty cash box for small day-to-day expenses. Petty Cash lets you track that money separately, what went in, what was spent, so even your small cash does not leak away untracked. Small amounts, spent often, add up, and this is how you keep an eye on them.
Credit cards
If your business uses credit cards, Credit Cards helps you track that spending and the balance owed, so this form of borrowing does not get out of sight.
The financial overview
Financial Overview pulls it together into a picture of your money across accounts and cash. This is the money side of your business at a glance, a natural companion to your sales and stock reports.
Why this matters
Many businesses track sales carefully but treat their actual money loosely, cash here, bank there, a credit card somewhere. That is how a profitable-looking business ends up unsure whether it can make a payment. Keeping your accounts, cash, and transactions recorded means you always know your real position, which is the difference between managing your money and hoping.
A few tips
- Keep bank transactions current so your recorded balance matches reality.
- Track petty cash, small amounts spent often are a real leak if ignored.
- Use the financial overview alongside your profit report for the full financial picture.
What next
With your money organised, your financial reports, income statement and balance sheet, become genuinely accurate. See the Pay Kar reporting guide to put it all together.
Want your money as organised as your stock? Book a free Pay Kar demo and we will set up your accounts, cash, and transactions.
