Checkbook Menu

Checkbook Menu

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The Checkbook is an Option and is not included in the Start-up version of Sports BUSINESS MANAGER, but is purchased as an added feature and then becomes an integrated part of the program. However, the Checkbook Option is always available for evaluation, but it is limited to a maximum of 20 transactions.

The major features of the Checkbook Option are:

Keep track of as many different bank accounts as needed.

Track liability and asset accounts separately. Liability account examples would be Payroll FICA and Entry Fee Escrow.

Post checks and deposits with date, check number, and optional notes.

Divide each check or deposit into as many as 15 account categories. The number of different categories is unlimited, and each category may also have a related sub-category, such as: Pool Maintenance: Chemicals.

Memorize (save) any transaction with its set of categories and sub-categories. This is extremely helpful for copying payments or deposits that occur frequently.

Balance your checkbook against the bank statement.

Create an income / expense summary for any date range.

Create a payroll report for any period.

Create a transaction summary.

Filter reports to a selected set of categories and/or sub-categories.

Create a monthly budget report.

Setting up an Account
From the Main Menu, click on Checkbooks, and the following screen will appear:

From this screen, you can add new accounts with their starting balance, edit the name of an existing account, or even delete an account by clicking the appropriate icon or command word. There are three types of accounts:

Bank Account

Liability Account

Asset Account

A bank account is a checking or savings account. Liability and asset accounts usually relate to the checking account as temporary transfer areas to track moneys that are owed to others (liability) or are being held for some special use (asset). A liability example would be Federal Payroll Taxes, and an asset example would be petty cash.

When you first start the Checkbook, four payroll liability accounts are created for you as seen above.

Getting Started
From the Checkbook Menu, click on Add or the Add Icon to enter the name of your bank checking account and select Bank for Bank Account type.

Next you enter an account balance and the date of the account balance. This balance is not critical at this point because you can change it later in the Checkbook Register. Most likely you will be entering checks and deposits for past months so that you can get an entire fiscal ear entered into the computer. As an example, use your January bank statement and enter the beginning balance and date that you find on the bank statement. Later, you will enter all the checks and deposits from January 1st until you are current. Along the way, you will be able to reconcile each month's bank statement (balance the checkbook), thus insuring that your data is accurate.