Adding Cash Balances & Reconciliations

How to use Blox’s Import Manual Transaction to add cash balances & deposits

 

Step 1:

Click on the white “+” icon

 

 

Step 2: 

Click on Add Manual Transactions

 


 

Step 3:

Click on Deposit

 


 

Step 4: 

For amount, type in “USD” and select “USD – United States Dollar”. You will have to scroll down. Multiple other currencies are available as well, such as EUR or YEN.

 

Fill out the Amount, and what account you want the transaction to be displayed in. For this example, I have created a separate “Bank” account.

 

You have the ability to add notes to this section, such as “Funding”.

Click on “Add Transaction”.

 


 

Step 5: 

The transaction is added. You can now find the transaction under “Accounts & Assets”, listed under “bank”, the account we created for it

 


 

Tips and Tricks:

 

Many of our clients keep a separate account for Cash Balances, that they reconcile monthly with their bank statements. 

 

You can also account for cash withdrawals from the newly created account:

Simply repeat steps 1-4 for the withdrawal amount and select withdrawal instead of a deposit.

Withdrawal Example:

I make sure to add a note to my withdrawal “Deposit to Coinbase Pro”

 

Cash Reconciliations:

 

 

Here is a screenshot of some trades I made on an exchange account, Coinbase Pro.

 

 

Please notice the Deposit of $1,190 USD, and the Withdrawal of -$1,084.97.

 

The previous example withdrawal of $1,190 corresponds to the $1,190 deposit to Coinbase Pro. 

 

 

To finish balancing my bank account, I simply have to account for the Withdrawal of -$1,084.97 by adding a corresponding deposit to my bank account.

 

I make sure to add a note to my manual entry “Withdrawal From Coinbase Pro”.

 

My “bank” account underneath “Accounts & Assets” is now balanced, displaying $9,894.97.

 

The $10,000 deposit for funding, the $1,190.00 withdrawal, and the $1,084.97 deposit are all visible with corresponding notes in the “Transactions” tab.

 

 

$10,000 – $1,190 + $1,084.79 = $9,894.97

 

 

Bank Account Displaying $9,894.97:

 


 

 

Bank Account Activity (with notes):


Thank you, we hope you enjoyed this guide.

 

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