Setting Up MISTRO Finance - Setting Up Accounts

This section describes how to set up accounts in MISTRO Finance

To set up your accounts, follow these steps:

· Identify each of the accounts involved in your business (eg. Farm account, investment account, loan account etc). If you use trading accounts with your factory, you should add them to the system as well. This simplifies the entry of milk statements in the future.

· From the main menu of Mistro Finance, select Accounts

· From the buttons at the base of the page, select Add

This will produce a window seeking details of the account to be added

Adding an account to Mistro Finance

The details that must be completed are “Short account name”, “Account type” and “Opening Balance”. Other details are optional

·      Type in a Short account name for the first of your accounts (eg. FARM) and press Enter

·      Type in the Full account name of this account (eg. FARM BUSINESS ACCOUNT) and press Enter

·      To select Account type (Bank, Cash, Credit, Loan, Asset, or Trading), click the arrow beside Account type box to reveal a list of options, and click the appropriate type. Then press Enter

·      Type in the name of the Bank where this account is operated and press Enter

·      Type in the Opening Balance of this account in dollars and cents (eg. 321.14) and press Enter. Use a minus sign if your account is in overdraft (eg –321.14)

·      Type in the Account Number issued by the Bank and press Enter

·      The first and last cheque fields are used by Mistro Finance when printing cheques. You needn’t worry about these.

·      The Accountant code field is used when transferring data electronically to your accountant. See section 6.1 on communicating with your accountant’s computer.

·      Check that the details you’ve entered are correct, then click Save

TIP: Typing Ctrl-Enter is the same as clicking Save, and is often easier to do while your fingers are on the keyboard.

A new screen will appear inviting you to enter details of your next account.

Follow the above procedure to set up and save each of your accounts, then select Cancel to terminate this activity.

To alter the name or any details of an existing account:

·      Click the name of the account requiring alteration

·      Select Edit from the menu at the base of the Accounts page

·      Then click the boxes requiring alteration and type in correct details

·      Select Save when all alterations have been completed

Note: If you modify the opening balance of an account, you should then select Utilities (from the main menu of Mistro Finance) followed by ReCalculate balances, to refresh account balances within Mistro.

To delete an existing account:

·      Click the name of the account to be deleted

·      Select Delete from the menu at the base of the Accounts page

This will produce a window giving basic details of the account about to be removed from your records. If it is the account to be removed:

·      Click Delete

This will produce a window asking you to name an alternate account into which all ‘transfer transactions’ associated with the account to be deleted are to be transferred. ‘Transfer transactions’ are those where money has been shifted from this account into another account.