Check an account's balance

Kila shows each account’s balance from what was recorded. Now and then, check it against what is really there: count the cash, or read the closing balance on the M-Pesa or bank statement. Kila keeps every check, so a difference is on file even before anyone explains it.

Steps

1. Tap Record actual balance on the account

   Go to Money › Money. On the account’s line, tap Record actual balance. For cash Kila says “Count the cash and enter what is there.”; for M-Pesa and bank, “Enter the closing balance on the statement.”

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   Steps 2 to 4.

   

2. Choose the branch, for cash

   Cash on hand holds the cash at every branch, so choose the Branch you counted. Check As at: the day of the count or the statement.

3. Enter what is really there

   Type the cash Counted, or the Statement balance. Kila shows three figures side by side: Kila shows, Actual and Difference.

4. Read the difference

   When they differ, Kila asks you to Explain the shortfall, or the extra: “Each explanation posts a dated correcting entry. Anything left is recorded, not posted.” Until you explain it, Kila says, for example, KES 50.00 left unexplained (recorded only).

5. Add an explanation

   Tap Add an explanation and choose What happened. For a shortfall: Moved to another account, Owner took it out or Cash short. Check the Amount. When the amounts add up, Kila says All of it is explained.

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   Steps 5 to 7.

   

6. Add a note if it helps

   For example, who counted with you.

7. Tap Record

   Kila says Balance recorded: “The difference is explained and posted.”

8. Check the account

   The account now shows the Last checked amount and date, and Matches when nothing is left unexplained.

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What if

You do not know why it differs

Record the balance and leave the difference unexplained: “Anything left is recorded, not posted.” The books do not change, and the difference stays on file until someone explains it.

You cannot add an explanation

Kila says “The owner explains differences. Recording the balance keeps the difference on file.” Record it: the difference stays on file for the owner.

Needs a manager

Recording a balance needs the right to manage money. Explaining a difference needs the owner’s money right, which the owner and the accountant have.

Related

• How money accounts work: what Kila shows in each account.
• Upload a statement: bring the M-Pesa or bank statement into Kila.
• Close a shift: the count of each till’s drawer.

Next: for M-Pesa and bank, match the statement line by line: Reconcile M-Pesa and bank statements.