Once money has been spent from the Cash account, or from the Bank Accounts, it is important to ensure that the balances of the accounts are kept up to date. If not, the valuation on the ‘Summary’ page of the Wrap holding and any valuation report will show incorrect values.
It is therefore, important to ensure that when any money is spent from the Cash account or the Bank Account that the balance is amended.
This can be done automatically when allocating money from the Cash account using the ‘Auto fill’ link that has been referred to throughout this guide when either adding or allocating money within the Cash account. However, this automatic update will not be taking into account any interest etc. on the account.
If you wish to record a more precise balance of the Cash account, it can be updated manually.