How do I add a starting balance in the Cash Flow Report?
The Cash Flow Report is somewhat like your Profit and Loss Statement in that it shows you how much income you've brought in and what expenses you've incurred during a given period. The main difference is that includes a starting balance, which is effectively the cash on hand you would start that period with. If you are using this report you may wonder where you enter the starting cash balance. Overall, this income is a rolling number that is calculated by Farmbrite from the information you've added into your Accounting transactions. The money you make in one month rolls to the next month and so forth.
However, in some cases you may want to add this number because you've received a loan or some other cash injection for your business. Or, maybe you're new to Farmbrite, and want to input the cash you have on hand right now. You can add this transaction as income and it will roll with the other income and expenses incurred along the way. Tip: Add this income in the month prior, so that income shows on the report the month before and rolls with the other income and expenses.
Check out the quick video below for an example of adding income from a loan into your Farmbrite accounting system.