button to change this code. Use this facility to switch between different banks or cash books without
having to change the currently open cash book account.Cash Management Transaction Entry
When entering a transaction the following fields appear:
Bank Account
The currently selected bank account or cash book code will appear here. Transactions will be deposited
in or withdrawn from this account. When adding or editing transactions you can click on the
button to change this code. Use this facility to switch between different banks or cash books without
having to change the currently open cash book account.
Transaction No
This should be a unique number and should be left at the default number sequence that would have been set up when the bank account was created.
Transaction
A transaction type between 1 and 9 that you can use to categorise your entries. The most common bank transactions, such as Bank Charge and Account Fee are numbered here for your use. What a transaction actually does--what effect it has on your accounts--is actually determined by what you allocate it to. Thus, a transaction type is mainly used for your own reference purposes and has no special significance to the accounting system.
The only exception to this rule is the transaction type Transfer which indicates that money is to be transferred between two different banks. (Also see Hints & Tips for minor notes relating to transaction type use.)
Transaction Types
If transaction type 3 Transfer is specified , you will be asked
for the destination account. This will create an equivalent transaction with the opposite value in the
transfer account. For example, if an amount of -$500 is placed in your current bank account (a withdrawal
of $500.00), a deposit of 500.00 will also appear as a transfer (increase) in the specified transfer destination
account.
If the transaction involves one or more foreign currency accounts then the final amount deposited or withdrawn will depend on the exchange rates of both accounts.
Date
The date of the transaction. If the transaction is a bank fee then this information will be on your bank statement. Otherwise, you may wish to enter the date you raised or received the transaction.
Deposited\Draw As
Indicates what form the transaction took, such as cheque, cash, EFTPOS, direct deposit, credit card etc.
Enter a number between 0 - 9 to specify the transaction payment type. By default 0 = cash, 1 = cheque.
To view a complete list click 
This information is used by the Bank Deposit List Report. (The payment method descriptions can be changed
in INSTALLATION
Workshop under Cash Management, Payment Methods menu options. Additional descriptions can be added.)
If you are entering supplier payments or direct payments that should not appear on your bank deposit list,
select a Deposited As type of "Direct Entry" or "Other".
Deposited On
This is the date that the transaction was deposited into the bank on. Leave blank if the transaction has not yet been deposited or will not be deposited. (For example, a withdrawal would never be deposited.) When a bank deposit list is printed, CAPITAL will automatically assign the deposit date to the transaction. If you will be printing bank deposit lists there is generally no need to manually fill in the Deposited On date as it will be updated for you automatically.
Reference
The reference for this transaction.
Details
A further line of information relating to this transaction.
If you have specified a payment method that is not a credit card you will be prompted to optionally enter these fields:
Bank
Enter the bank account code of the transaction if you are depositing a cheque in the cash book. Otherwise, leave blank. For example, if the cheque you are depositing is from Citibank, enter the code Citibank here for your reference.
Branch
Enter the branch name of the cheque this transaction relates to. If you are not depositing a cheque, leave it blank.
Drawer
This is the drawer's name that appears on the cheque if you are depositing a cheque directly in the cash book. Otherwise leave blank.
If the branch, bank, or drawer is not relevant (such as for a deposit of cash) you should skip over them.
If you have specified a credit card payment method you will be prompted for these fields:
Expiry Date
Optionally enter the credit card expiry date in MM/YY format. You must enter leading zeros, so January 2000 would be entered as 01/00. Enter June 2001 as 06/01, etc.
Card Number
Optionally enter the credit card number.
Card Holder
Optionally enter the card holder name.
If you intend to print credit card details on your Bank Deposit List reports then the above information
should be filled in. Otherwise, entering credit card number, expiry date and holder name details are strictly
optional.
If you wish to include itemised details of your credit card transactions on your Bank Deposit List reports,
you must 
the Installation option Prompt credit card details found under Cash Management,
Payment Methods in INSTALLATION
Workshop.
Exchange From
This only applies if your bank account or cash book is being managed in a foreign currency. You will be prompted to enter the current exchange rate for the currency of the bank. The exchange rate you enter should always refer to the conversion from the base (Australian) currency. CAPITAL will automatically retrieve this information from the Foreign Currency table, however you may change the entry here as necessary.
To set an account as a foreign currency account you must specify a currency code in the Currency field
of the cash book account. See also: Foreign
Currency Cash Management.
Exchange To
If you are transferring an amount of money into a foreign bank account or cash book you will also be prompted to enter the current rate of exchange of the destination bank. This information will be retrieved from the Foreign Currency Table, however you may override the entry here as necessary. The exchange rate entered should always refer to the conversion rate as it relates to base currency (Australian dollars).
Amount $AUD
If you have not specified an exchange rate you can simply enter the Australian dollar (base currency) amount and CAPITAL will calculate the exchange rate for you, once it also knows what the foreign currency amount is. Otherwise, this option can be skipped over.
Amount
The amount of the entry. If this is a foreign currency account then enter the foreign currency amount when applicable.
To
If you are transferring a sum of money to a foreign currency account you will be prompted to optionally enter the foreign transfer amount. This is normally calculated for you automatically. If you change this amount, the exchange rate for the transfer destination will be recalculated.
Once you have entered the transactions details you will be taken to an allocations screen where you may "distribute" the amount. You should then assign to the appropriate account or accounts the amount that you have just entered. This might be bank fees, telephone charges, a supplier, customer, etc.
The first part of the entry process described above is used to specify the amount of money taken from or added to your cash book (or bank) balance. The next step--the allocation process--is used to tell the system for what purpose the money was used, or from where it was gained.
Transfers, Foreign Currency And Bank Fees
When you transfer amounts of money between one or more foreign bank accounts or cash books, two other transactions may be involved.
Bank Fees
Foreign Exchange Gain/Loss
The Cash Manager will prompt you to determine whether you wish to enter any related bank fees. If you respond with a "no" then you can place the bank fee entry into the system at a later date. You may not always know what the bank fee is at the time you conduct the transfer. (You can also enter the bank fee at the time of performing your bank reconciliation.)
For information on how foreign currency gain/loss is handled see:Foreign Currency Cash Management
Automatic Cheque Number Issuing
The Cash Manager can be instructed to automatically issue a cheque if the cash book you are working on has a cheque number assigned to it under Auto Cheques. The Auto Cheques setting can be altered by starting the Cash Manager, selecting the Cash Book you wish to change by highlighting the Cash Book and clicking <edit>. Then click on the settings tag.
When the cash book transaction is created, the next cheque number is automatically assigned to the Reference field of the cash book entry. Certain conditions, however, must be met before this will occur:
The Deposit As type of the entry must be a cheque. (Do not worry about your bank deposit lists. Cheques you raise yourself will not appear on your deposit list report as the Cash Manager will note from the amount you specify that the entry is a withdrawal.)
The total value of the transaction must be less than zero. This tells the Cash Manager that the entry is a withdrawal from the current cash book.
The cash book transaction type must be set to 1 (direct entry) which is the default setting. If you select Transfer, Bank Fee, Adjustment etc., CAPITAL will assume you do not intend to actually issue a cheque.
Cheque numbers are not issued or changed if you are editing a transaction that has already been put in the system.
If the above conditions are met the Reference field will be assigned the next cheque number to issue. Keep in mind that the current cheque number will replace any data that may have been placed in the Reference field by the operator.
____________________________
Related Topics:
 |