Cheques, bank & cash flow

The cheque register follows every received and issued (post-dated) cheque from in hand or issued to deposited, cleared or bounced. A cheque settles its invoices when you record it, but it only counts as cash once it clears; a bounce reverses its payments after approval. Bank accounts show their balance from the opening balance, cleared cheques and bank transactions such as charges, interest and transfers. Each month you enter the statement’s closing balance and Metrak shows the difference still to explain. The cash-flow forecast lays out 13 weeks (or 12 months) of money in and out - cheques, invoices, payroll, plant hire and recurring costs - and warns before you drop below your minimum.

• Post-dated cheques stop living in a drawer: due-this-week reminders to deposit or fund.
• A bounced cheque puts its invoices back to outstanding - nothing is lost.
• Monthly statement balance shows at once whether the books match the bank.
• The owner sees cash today and the forecast low point on the dashboard.