The Balance Sheet's Cash row is only useful if it reflects EVERY account you hold cash in. AgroYield captures the Monnify wallet automatically — for any other account (your bank operating account, savings, fixed deposit, domiciliary, petty cash), add it here and refresh the balance periodically.
When to use this
- You hold cash in any account other than your AgroYield Monnify wallet (most operators do)
- You want the Balance Sheet to show your true cash position for lenders / accountants / your own decisions
- You're capturing opening balances and the Cash section needs to break down per account
What gets recorded
Per account, AgroYield stores:
- Label — your own name for the account, e.g. "GTBank — Operating"
- Bank — picked from the Nigerian bank list (~35 banks)
- Account type — current / savings / fixed deposit / domiciliary / petty cash / other
- Account number — optional 10-digit NUBAN (helpful for future open-banking integrations)
- Currency — defaults to NGN; domiciliary accounts may hold USD/GBP/EUR (multi-currency display coming later)
- Current balance — operator-maintained (see below)
- Primary flag — one primary per business; typically the Monnify wallet
- Notes — free text ("Used for monthly rent + supplier payments")
How balance refreshes work
There are now three ways your bank account balances change:
1. Automatic — when you log a transaction in AgroYield
When you record a cash-moving transaction and pick a bank account on the form, the balance updates automatically:
- Expense → "Paid from" drops the selected account by the expense amount
- Invoice marked paid → "Received into" lifts the selected account by the invoice total (skipped for Monnify-routed payments — the wallet already credited via webhook)
- Asset added → "Purchased from" drops the selected account by the purchase price
- Payroll marked paid → "Paid from" drops the selected account by the net salary (skipped for Monnify-routed pay runs)
- Product stock-in → "Paid from" (when receipt kind = cash purchase) drops the selected account by quantity × unit cost
The Balance Sheet refreshes instantly. The audit log records every change with the source transaction labelled (Expense paid / Invoice received / Asset purchased / Payroll paid / Stock purchased).
2. Automatic — Monnify wallet
Every customer payment received via Monnify (online checkout, transfer to your wallet's NUBAN) credits the Monnify wallet row instantly. Every payout you fire from the wallet debits it. No manual work.
3. Manual — external account reconciliation
For accounts where you transact OUTSIDE AgroYield (cash transfer to a supplier from GTBank web banking, salary paid from Zenith mobile app, etc.) you reconcile the balance manually:
- Open
/business/bank-accounts - Click Update balance next to the account
- Enter the new figure + optional note ("Reconciled from May statement")
- Click Update balance — the new figure flows into the Balance Sheet immediately
Accounts not refreshed in over 30 days show a Stale amber badge so you know the position may be off. The AgroYield Monnify wallet auto-syncs and never goes stale.
Every balance update (automatic OR manual) writes a row to an append-only audit log with: who, when, old balance, new balance, source label, and your optional note. The Recent activity expander on the Balance Sheet (/business/reports#balance-sheet — click any account row in the breakdown table) shows the last 10 movements per account inline.
The Monnify wallet row
Every business with a provisioned Monnify wallet gets an auto-created bank account row tagged System. This row:
- Reflects your live wallet balance (Monnify-synced)
- Auto-updates on every incoming customer payment + outgoing payout
- Cannot be manually edited, deleted, or set non-primary
If you've never received a customer payment via Monnify, the balance shows ₦0 — that's correct.
How this connects to other reports
- Balance Sheet (
/business/reports#balance-sheet) — Cash row sums every active account. Drill-down expands to per-account breakdown with last-updated time + stale flags. - Opening Balance wizard (
/business/opening-balances/<id>) — Cash section becomes a dropdown of your bank accounts so each opening entry links to the specific account it represents. When no accounts are captured yet, the section falls back to free-text labels (backward compatible). - Total Cash KPI on the bank accounts page itself sums every active account so you can see your full position at a glance.
Step-by-step — add an external bank account
- Navigate to Settings → Bank accounts from your business dashboard
- Click + Add bank account
- Fill in label, bank, account type, current balance (optional)
- Click Add account — it appears immediately in the list
- (Optional) Mark as primary if it should replace the Monnify wallet as the default disbursement source
- (Optional) Add the 10-digit NUBAN — recommended for future open-banking auto-sync
Frequently asked questions
Q: Do I have to add every account, even ones with small balances? A: For an accurate Balance Sheet — yes. Petty cash counts; cleaner records mean better lender + accountant conversations. You can mark dormant accounts inactive (soft-delete) at any time.
Q: What if I close a bank account? A: Click Delete on the row. The account is soft-deleted — it stops appearing on the Balance Sheet going forward, but the historical balance log stays for audit. No hard delete, by design.
Q: Can I edit the Monnify wallet row? A: No — it's system-managed. The balance auto-syncs from Monnify; the label is set automatically. You can still mark a different account as primary if you want disbursements to default to it.
Q: Will AgroYield auto-pull my balances from my bank? A: Not today. Open-banking integration via Mono / Okra / Stitch is a future epic — it'd replace the manual "Update balance" flow with live API pulls. For now, plan to refresh balances at month-end (or weekly if you transact heavily).
Q: Will my accountant see this? A: Yes if you grant them business access. The Balance Sheet Cash drill-down shows the per-account list to anyone who can view the reports module.
Related
- Opening balances — link your cash opening entries to specific bank accounts
- Reports — Balance Sheet Cash row + drill-down lives here
- Privacy & data handling — how account balances are stored