Where money sits

You’ll need: Cash accounts — if you cannot see these, the module may be switched off for your business or outside your permissions. An administrator can change either.

Money is never simply “in the business”. It is in a specific place, and that place is a cash account.

One account per real place

A till. A bank account. A mobile money wallet. A petty cash box. Each is its own record, with its own currency and its own balance.

The type says what kind it is, and the fields that follow depend on it: a bank account carries the bank name, account number, IBAN, SWIFT and address; a till carries a cash register name and location; a mobile account carries a phone number and merchant code; a crypto account carries its network, asset and address. A treasurer can be named as the person responsible.

Create an account for each place money actually sits. Not one called “Cash” covering three tills and a safe — because when the total is wrong, you will have no idea which of the four is short.

Why this is the foundation

Every payment in FeePrime names the account it arrived in or left from. That single habit is what makes reconciliation possible: at any moment, what the system says a bank account holds can be compared against what the bank says.

A total that is not attached to a real place cannot be checked against anything. It can only be believed.

Accounts connected to the outside

Some accounts are wired to something external. A payment gateway link connects an account to the gateway that collects online payments, so money customers pay lands in the right place automatically. An SMS endpoint can feed transaction alerts in. Wallet accounts carry their issuer and currency code.

Where those exist, money arrives without anybody keying it, and reconciliation gets easier rather than harder.

Currency belongs to the account

An account holds one currency. That is not a limitation, it is honesty: a bank account genuinely holds francs, and a euro account is a different account.

If you trade in two currencies you have at least two accounts, and no report should ever add them together.

Treasurers and who can see what

Naming a treasurer records who is responsible for a place money sits. Combined with the permissions from Essentials — who may create a payment and who may approve it — this is how a growing business keeps cash controlled without the owner touching every transaction.

Try it

On staging.feeprime.com, create a till and a bank account in the same currency, record money into each, and look at the balances. Then look at a payment and find which account it names.