Use this form to enter cash transactions that are not (yet) banked.
You can also use it to enter G.S.T. adjustments. For example, if you are a plumber and have bought, and paid for, some spouting and entered it as a business expense. You then use some of the spouting on your own house. That has to be recorded as income. While no money has changed hands, in effect you have paid yourself the value of the spouting used on the house. Enter it as a cash income entry. If you do this set up an income ledger account specifically for these types of payments.
Generally cash transactions should balance each other. For example if a client pays cash for a job ($200.00). $50.00 is spent on petrol, and $150.00 on materials.
This form updates the transaction journal only. Cash transactions can be banked by being added to a detailed bank transaction.
If you have cash to bank and it is not a client payment, use the Miscellaneous Cash Transactions form. If it is, and you have created an invoice, use the Clients Payments form. Other wise use the cash transactions form.
To add a cash transaction click Add
The transaction number is created automatically.
Specify whether this is a Miscellaneous or supplier payment. The default is miscellaneous. If it is a supplier payment supplier-related fields display. As follows:
Select the supplier code in the Supplier field.
Select the relevant invoice in the Invoice field. The account used when creating the invoice displays in the Purpose field.
Enter a narrative that describes the transaction. The default is the description of the item in the invoice.
Enter the date of the transaction. The default is today's date.
Enter the amount of the transaction. G.S.T. is calculated automatically if you are registered and G.S.T. applies to the ledger account. If the supplier is not registered G.S.T. is not calculated.
Click Save when complete. Or cancel to undo the entry.
The Amount defaults to the total unpaid for the selected invoice.
Cash transactions cannot be deleted once G.S.T. has been run for the period they belong to, or they have been included in a detailed bank transaction..