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      <blockquote>
        <div class="ho_OverviewHeading"><a name="861163">Accounts &amp; Banking Linked Accounts window</a></div>
        <div class="b_Body"><a name="813714">The Accounts &amp; Banking Linked Accounts window enables you to review and change the linked accounts for </a>your cheque accounts, electronic clearing accounts, equity accounts and other bank accounts.</div>
        <div class="b_Body"><a name="813715">These accounts are automatically linked when you create a new company file using the New Company File </a>Assistant. However, you may want to change the linked accounts to suit your business needs.</div>
        <div class="hp_ProcedureHeading" onclick="WebWorks_ToggleDIV(WebWorksRootPath, &quot;wwdd818206&quot;);">
          <span class="N_007eProcBullet"></span><a name="818206">Field Descriptions</a><script type="text/javascript" language="JavaScript1.2">WebWorks_WriteArrow(WebWorksRootPath, "wwdd818206", false);</script></div>
        <script type="text/javascript" language="JavaScript1.2">WebWorks_WriteDIVOpen("wwdd818206", false);</script>
        <div class="hps_ProcedureSubheading"><a name="813721">Equity Account for Current Earnings</a></div>
        <div class="b_Body"><a name="813723">This is the account that tracks the increase in your business’s equity during the current financial year. The </a>amount assigned to this account is determined by subtracting the balances of all cost of sales and expense accounts from the balance of all income accounts.</div>
        <div class="b_Body"><a name="863356">Current earnings = income </a><span class="ei_EmphasisItalic">less</span> cost of sales <span class="ei_EmphasisItalic">less</span> expenses. This account is referred to as your <span style="font-style: italic;">Current Year </span><span style="font-style: italic;">Earnings account</span>.</div>
        <div class="b_Body"><a name="861016">This account is used to calculate your profit (or loss) for the year to date. To ensure accurate financial reporting </a>within your MYOB software, this account cannot be changed.</div>
        <div class="hps_ProcedureSubheading"><a name="813725">Equity Account for Retained Earnings</a></div>
        <div class="b_Body"><a name="813727">This is the account that tracks the increase in your business’s equity for all financial periods, but not including </a>the current financial year. When a new financial year is started, the current earnings account’s balance is added to the balance of this account. This account is referred to as your <span style="font-style: italic;">Retained Earnings account</span>.</div>
        <div class="b_Body"><a name="861028">This account is used to calculate your profit (or loss) for the year during the year-end closing process. To ensure </a>accurate financial reporting within your MYOB software, this account cannot be changed.</div>
        <div class="hps_ProcedureSubheading"><a name="813729">Equity Account for Historical Balancing</a></div>
        <div class="b_Body"><a name="813731">Enter or select an account that will be used to track the difference in the opening balances you entered for your </a>asset accounts and the opening balances you entered for your liability and equity accounts.</div>
        <div class="b_Body"><a name="863407">If, for example, the opening balance of all your asset accounts is $100,000, and the total balance of all your </a>liability and equity accounts is only $95,000, the remaining $5,000 will be assigned to this account. To ensure your business records are accurate, this account’s balance should be zero.</div>
        <div class="b_Body"><a name="813732">This account is referred to as your </a><span style="font-style: italic;">Historical Balancing account</span>. This account captures any out-of-balance amounts inherited from your previous accounting system. </div>
        <div class="hps_ProcedureSubheading"><a name="864212">Bank Account for Electronic Payments</a></div>
        <div class="b_Body"><a name="864213">This account enables you to track funds you wish to include on an electronic payment. The linked account </a>must be a Detail Bank account—Bank account type.</div>
        <div class="b_Body"><a name="864214">When you make an entry in the Spend Money</a>, Pay Employees or Pay Bills window, you can choose to group the transaction with other electronic payments. The amount of the transaction will be recorded in this account until you pay it electronically using the Prepare Electronic Payments window. This account is referred to as your <span style="font-style: italic;">Electronic Clearing Account</span>.</div>
        <div class="b_Body"><a name="864215">If you pay employees electronically and you choose a different account in this field, the Payroll Linked Account </a>is also updated.</div>
        <div class="hps_ProcedureSubheading"><a name="827571">Bank Account for Undeposited Funds</a></div>
        <div class="b_Body"><a name="827573">Enter or select an undeposited funds account into which individual receive money transactions are recorded. </a>This account is referred to as your <span style="font-style: italic;">Undeposited Funds account</span>.</div>
        <div class="b_Body"><a name="861068">Whenenter a transaction in the Receive Money, Receive Payments or Sales window, you can indicate that you </a>want the amount to be grouped with your undeposited funds. If you do this, those funds will appear in this account until you deposit them in a bank account using the Prepare Bank Deposit window.</div>
        <div class="hps_ProcedureSubheading"><a name="818550">OK </a></div>
        <div class="b_Body"><a name="818552">Click to save your changes and close the window.</a></div>
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        <div class="Sample_heading"><a href="50100c-03.htm#836909" name="818294">Tips for this window</a></div>
        <div class="href_ReferenceBlockHeading"><a name="863210">Related topics</a></div>
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                  <span style="color: Gray;">■</span>
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                <div class="bbi_BulletedIndented_inner"><span class="l_Link"><a href="companyfile.4.5.htm#1091452" name="864251">Set up accounts</a></span></div>
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                  <span style="color: Gray;">■</span>
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                <div class="bbi_BulletedIndented_inner"><span class="l_Link"><a href="companyfile.4.7.htm#1091721" name="864255">Enter account opening balances</a></span></div>
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