Cash Management Concepts

The Cash Management System begins by presenting a list of available cash books and bank accounts.

Click on the Edit button to view bank account details or Add to add a new bank account to the system.

Transactions that directly affect your bank balance are automatically placed in the Cash Manager. You should specify your default expense codes in INSTALLATION Workshop before you use cash books. Also be sure to activate the Cash Management system. See the topic: Cash Management Settings for more information.

Transactions that increase your bank balance, such as payments received from customers, cash sales and interest appear as positive value transactions.

Transactions that decrease your balance, such as payments to suppliers, cash or cheque refunds and bank fees appear as negative values.

The Cash Manager can be used to:

Allocate expenses, income and operating overhead. (If the transactions relate to specific customer or supplier accounts then you should place such entries directly into those accounts rather than use the Cash Manager.)
Transfer sums of money between different bank accounts.
Pay accounts or raise "contra" transactions between accounts.
Check your bank statements against the entries placed in the system to verify that everything is accurate and up to date. This is referred to as performing a "bank reconciliation".
Mark which transactions should appear on your bank deposit list for presentation to your bank.
Locate normally difficult to find references such as cheque numbers, and expense codes.
Write off bad debts.

Manage recurring transactions.

Hints & Tips

You can use a cash book as a fast way to enter and record business expenses because your bank balance and expense codes are entered in one step.
If your cash book has been allocated a cheque number sequence to automatically issue, this will be assigned when the cash book entry is a "Direct Entry" (transaction type "1") and the amount is less than zero. Cheque numbers are only issued when you are adding new transactions.
To get the best value out of the cash book and your customer invoicing system, you should activate the Record Payment Types option found under INSTALLATION Workshop.

For information on keyboard navigation see: Keyboard Short-Cuts.

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