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How to track the balance of your bank account on Tracks?
How to track the balance of your bank account on Tracks?

Reconcile your account, checkbook balancing work around

Isabelle Talkington avatar
Written by Isabelle Talkington
Updated over 9 months ago

FarmRaise Tracks is not made to reconcile or balance your checkbook, but we do have a workaround that could help you.

  1. If you go to accounts, you can see the money in and out of your account.

  2. To track the balance, you will need to enter a "Beginning Balance" custom category and enter the "revenue" into the current year. You will want this to be an "Other / Personal" revenue so that it does not count towards your Schedule F income totals.

  3. You will want to add this transaction to the account you would like to track the balance of.

  4. You can then begin entering your revenues and expenses into the Account that you would like to track.

  5. You will need to click "Account" > "YTD" to see the current balance for the year.

  6. It is important to note that you will want to put the beginning balance in at the beginning of each year.

  7. It is important to make sure that you track the expenses and revenues all to the correct account.

Note: Any refunds to the account will have to come in as revenues. You will likely need to create a custom revenue for "refunds" under "Other / Personal"

If you have any questions, please feel free to reach out to [email protected].


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