Step by step
Move money between accounts
Record money moving between the business's own accounts, such as cash drawn from the bank, M-Pesa swept to the bank or takings banked, so each account's balance stays true.
When money goes from one of the business’s accounts to another, nothing is earned or spent, but both balances change. Record the move so Kila shows the right amount in each.
Open Money and tap Move money
Go to Money › Money and tap Move money.
Choose where the money came from
Kila says the moves it is for: “Between the business’s own accounts: the till to the safe, the safe to the bank, M-Pesa to the bank, or an M-Pesa withdrawal as cash.” In From, choose the account the money left. Each shows what Kila has in it.
Steps 2 to 6 on one form. Choose where it went
In To, choose the account it went into.
Enter the amount and any charges
Type the Amount. If the bank or M-Pesa charged for it, type the Charges: “Bank or M-Pesa charges, taken from the account the money leaves”.
Say which branch the cash is at
When cash is involved, Kila asks for the Branch: cash is counted where it is. Add the Date, a Reference such as the withdrawal slip, and a Note if it helps.
Tap Move
The button shows the amount, such as Move KES 20,000.00. Kila says Money moved, with the move’s number: MON-…: KES 20,000.00 moved.
Check Recent moves
The move is listed under Recent moves, “Transfers, owner money and corrections recorded here.”, as Moved from one account to the other.
The money went to or came from the owner
Link to this section: The money went to or came from the ownerThat is not a move between the business’s accounts. Record it as owner money: see Record owner money.
The cash is the takings from a till
Link to this section: The cash is the takings from a tillWhen your business pays its takings into M-Pesa each day, record each deposit from the closed till, with the code from the message: see Deposit cash.
Needs a manager
Moving money needs the right to manage money, which the owner, the general manager and the accountant have.
- How money accounts work: the accounts and what Kila shows in each.
- Check an account’s balance: count the cash or read the statement.
Next: when the statement comes, match the move on it: Reconcile M-Pesa and bank statements.