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Help documentation for Cash Book JUSTIFICATION FOR INSTALLING CASH BOOK The extension can be installed by all businesses of all sizes, including the Micro, Small and Medium-sized Enterprises (MSMEs), who may desire to computerise the Cash Book aspect of their accounting function (if none was in place before) or will want to replace the existing one with our robust extension. The extension, Cash Book, can be a stand-alone installation. Large enterprises can also acquire it as a bespoke application/extension. A cash book records all the cash transactions of a business. It has two sides to it, Receipts side and Payments side. Transactions are recorded in chronological order and the balance is updated and verified on a continuous basis. Cash information can be accessed faster from the cash book. How the cash book works enables efficient management of cash and also helps cash budgeting. The fields in the extension with the explanations are as follows: i) Cash Book - Once the extension is installed, the 'Cash Book/Receipts and Payments' comes up. A Form is to be completed for every transaction. The fields to be completed are, namely: • Date - The date of entry of the transaction, receipt or payment, is entered here. This is mandatory. Account Name - The name of the transaction: debtor or creditor, purchase or sale of item. This is mandatory. Account Number - The Account Number of the debtor or creditor, item purchased or sold for cash. This is mandatory. • Voucher Types - A drop-down is provided listing various voucher types. The relevant one is clicked on for the field. This is mandatory. • Voucher Number-The Voucher Number is entered here. This is mandatory. • Voucher Date – The date on the Voucher is entered here. This is mandatory. • Cash Receipt - The cash amount received stated on the Voucher is to be entered in this field. This is mandatory. If the transaction being entered is for bank receipt, 0 must be entered here while the Bank Receipt field has the amount for it. • Bank Receipt – Amount stated in the bank credit advice is entered in this field. This is mandatory. If the transaction being entered is for cash receipt, 0 must be entered here while the Cash Receipt field has the amount for it. • Cash Payment – Cash paid is entered here. It is mandatory. If there is no cash payment, 0 is entered. • Bank Payment – Payment made by cheque or by a standing order to the bank is entered here. This is mandatory. If no bank payment, 0 is entered. • Discount Allowed – Discount allowed to a debtor is entered here when the debtor makes payment. If no discount, 0 is entered as it is mandatory. It is to be noted that Discount Allowed is a revenue/income statement item that pertains to a particular accounting year. So, this should be closed at the last day of the accounting year by transferring the total to the debit of discount allowed account in the expense ledger/revenue account. The individual debtors are credited with the amounts relating to them. This is effected in the extension by entering in the Discount Allowed field of the Receipts and Payments Form a negative figure of the latest amount shown in the Total Discount Allowed column of the Receipts and Payments Report. • Total Discount Allowed - NOTHING is to be entered in this field as the System will generate the value! This is the field that gives the updated amount of total discounts allowed when an entry is made. • Discount Received - Discount received from a creditor is entered here when payment is made to the creditor. If no discount, 0 is entered as it is mandatory. It is to be noted that Discount Received is a revenue/income statement item that pertains to a particular accounting year. So, this should be closed at the last day of the accounting year by transferring the total to the credit of discount allowed account in the revenue account. The individual creditors are debited with the amounts relating to them. This is effected in the extension by entering in the Discount Received field of the Receipts and Payments Form a negative figure of the latest amount shown in the Total Discount Received column of the Receipts and Payments Report. • Total Discount Received - NOTHING is to be entered in this field as the System will generate the value! This is the field that gives the updated amount of total discounts received when an entry is made. • Ledger Folio No. – The number of the ledger folio of the counterpart entry of the Cash Book entry is entered here. • Cash in Hand - NOTHING is to be entered in this field as the System will generate the value. • Cash at Bank - NOTHING is to be entered in this field as the System will generate the value! • Cash Balance - NOTHING is to be entered in this field as the System will generate the value!This is the physical cash in hand at a date. • Bank Balance – NOTHING is to be entered in this field as the System will generate the value! This is the amount in the bank at a date. • Notes – Additional particulars of the transaction are stated along with any other information. • Name – This item has two fields for completion: First Name and Last Name. Help text is provided underneath the fields which reads Data Entry Officer. Each field can store names. In entering the First Name, you are to double-click on the field when all the stored names would be displayed. If the name is in the list, you just click on the name and it will be entered in the field. If the name is not in the list, you add it by typing the name in the field when it is also stored and would be available for use subsequently or in the future. The same procedure goes for Last Name. You double-click on the empty field of Last Name when all the stored names are displayed and one can further click on the required name, if displayed. If not displayed, the new name is entered and this will now be stored and be available for future/subsequent use. • Submit or Reset - After the completion of the Form, the ‘Submit’ button is clicked on. If there is the need to cancel the form, the ‘Reset’ button is clicked on. • NB. All fields asterisked in red must be completed before the Receipts and Payments form can be submitted. • ii) Receipts and Payments Report - The data entered in Receipts and Payments Form are all transmitted to the Receipts and Payments Report when the Submit button is clicked on in the Form. The fields in the Form are represented in the Report. • The following activities can be carried out in the Receipts and Payments Report section of the extension, namely, Edit, Duplicate, Delete, Print, and Export. Any of the above activities can be done for any of the entries or a combination of them or for all of the entries. To work on an entry, the box in front of it is ticked and all the activities earlier mentioned appear at the top of the report. The activity required is then clicked on, and the directives are followed (it is interactive). To work on more than one entry, the boxes against the required boxes are ticked when all the activities appear at the top of the report. The activity required is then clicked on, and the directives are followed (it is interactive). To work on all of the entries, the first box, in between the eye-like image and Auto Number column, is ticked which automatically ticks all of the entries. The activity required is then clicked on, and the directives are followed (it is interactive). TAKE - ON BALANCES On installation of this extension, and to ensure completeness of record, it would be necessary to ascertain cash and bank balances before the introduction of the extension. It is important that the figures that appeared in the last Statement of Financial Position (Balance Sheet) would be the opening figures in the extension, provided the installation took place and became operational on the first day of the succeeding year. However, if the installation is done during the accounting year, it may be necessary to draw up a Bank Reconciliation as at the date of installation so as to determine the take-on figure for the bank. A certified Statement of Cash Balance as at the date of installation issued by a designated officer (the CEO or Company Secretary) might be needed. Furthermore, figures of the audited interim financial statements or of the management accounts might be used.You can add any feature you want or edit the ones that are already listed.
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