The cash entries screen is used for the posting of cash receipts and payments. The bookings will be made to the relevant cash accounts that should have been created at System->Configuration->Cash Accounts and also to the relevant cash item accounts that should have been specified under Support Files->Cash Items.
How to make Cash Entries
To make cash entries you go to Cash->Cash Entries. A screen that looks as follows will appear:
Branch: From the drop down box, select an appropriate branch for which cash transactions are being made, e.g., "DB".
Cash: Select the appropriate cash account to or from which money is to be paid or received from, e.g., "Cash account". The cash account should have been created at System->Configuration->Cash Accounts.
Cost Center: From the drop down box, select the appropriate cost center to which the cash transaction will be accounted in the balance sheet. The cost center should have been created at Support Files->Cost center.
Cash Balance: This read only textbox displays the balance for the selected cash account, e.g., "1,700,000". This will update the cashier with the balance available before any payments can be made.
Product: Select, from the drop down box, the product to which the cash transaction is related to, e.g., "Free Savings". The product should have been created at System->Configuration->Products.
Date: Enter the transaction date, e.g., "30/07/2014".
Donor: Select the fund to which the cash transaction will be accounted, e.g., "Internal Funding".
Voucher No: Enter the voucher number for the cash transaction if required, e.g., "3222".
Cash Item ID: Select from the drop down box, the appropriate cash item for which cash is to be paid or received, e.g., "Monthly Rent". The cash items should have been added at Support Files->Cash Items.
Amount: This field will automatically be updated with the amount that is set as default for the cash item selected above, e.g., "1,000,000" but you can still edit or change it.
Note that when the check box to the right of the Amount textbox is selected, it will show Payment in red color. This means that the cash account is going to make a payment for the cash item selected. Otherwise when it is unchecked, it will read Received in blue color and this means that the cash account will be receiving money for the cash item selected item.
Description: Here you enter the description of the transaction being carried out, e.g., "Rent for August 2014".
Cash\Cheque: You select the option for the type of receipt or payment being made, e.g., "Cash".
Click on the Save command button and a receipt will be generated for the transaction looking as follows:
Close the report to exit.
You need to activate receipt printing at System->Configuration->Receipts for the receipt to be generated and you will have to define the folder where the receipts will be stored for future access.
How to record daily cash distribution to tellers\cashiers using the cash entries module
Consider an organisation that has a cash vault from which cash is drawn and distributed to tellers every morning and at the day end the tellers return the balance to the cash vault.
To transfer cash to the cash vault you go to Cash->Cash Entries. A screen like the one below will be displayed:
Note that the person carrying out this transaction should have the appropriate access to all Cash accounts, this should have been set at System->Configuration->Users->Add Users.
Cash: Select the cash account where funds are to be transferred from, e.g., "Main Cash Account"
Date: Enter the date when the transfer to the vault is made, e.g., "06/08/2014"
Cash Balance: This field will automatically be updated with the cash balance on the account selected above, e.g., "150,894,333.32"
Voucher: Enter the voucher number in the textbox, e.g., "1123".
Cash Item ID: Select from the drop down box, the Cash Vault to which the transfer is being made, e.g., "Cash Vault" This should have been added at Support Files->Cash Items.
Amount: This field will automatically be updated with the amount that is set as default for the cash item selected above, e.g., "50,000,000" but you can still edit or change it.
Description: Here you enter the description of the transaction being carried out, e.g., "Transfer to Cash Vault".
Cash\Cheque: You select the option for the mode of payment being made, e.g., "Cash".
Click the Save button to complete the transfer.
Therefore, 50,000,000 will be transferred from the cash account to the cash vault and when selected this will now have a balance of 50,000,000. This can be seen from the screen below:
How to distribute cash to tellers in the morning
To distribute cash to the tellers you go to Cash->Cash Entries. A screen like the one below will be displayed:
Note that the funds are transferred to the tellers account from the cash vault in the morning and then in the evening the balance is transferred back to the vault. .
Cash: From the drop down select the "Cash Vault". This is where the funds distributed to the tellers are transferred from.
Date: Enter the date when the transfer is made, e.g., "06/08/2014"
Cash Balance: This field will automatically be updated with the balance on the cash vault, e.g., "50,000,000"
Voucher: Enter the voucher number in the textbox, e.g., "2231".
Cash Item ID: Select from the drop down box, the Teller to which the transfer is being made, e.g., "Teller 1" This should have been added at Support Files->Cash Items.
Amount:. This field will automatically be updated with the amount that is set as default for the cash item selected above, e.g., "2,000,000" but you can still edit or change it.
Description: Here you enter the description of the transaction being carried out, e.g., "Daily Float to Teller 1".
Cash\Cheque: You select the option for the type of receipt or payment being made, e.g., "Cash".
Click the Save button to complete the transfer.
Teller 1 will now have the "2,000,000/=" that was transferred to the his/her account as seen below:
To carry out daily cash entries, teller 1 logs in to Loan Performer using his/her user account depending on the settings at System->Configuration->Users). Going by the above example he has a starting balance of 2,000,000. If that Teller carries out 1 transaction whereby one (1) person makes a withdrawal of 500,000/= from his account on that day, then this would mean that at the close of the day Teller 1 should have 1,500,000/= to be returned to the Cash Vault.
Returning cash to the vault at day end
At the end of the day, log in as the person in charge of the cash vault logs in, e.g., "The Manager" and go to Cash->Cash entries. A screen like the one below will be displayed.
Cash: Select teller that is returning the cash balance, e.g., "Teller 1".
Note that the remaining balance on that tellers account will be displayed under Cash Balance, e.g. "1,500,000 /=".
Amount: Enter the balance on the tellers account that should be returned to the vault, e.g., "1,500,000 /=". Make sure that the option Payment is checked. This will mean that Teller 1 is going to make payment to the Cash Vault of 1,500,000/=.
Description: Enter the description of the transaction, e.g., "Cash returned at end of the day"..
Cash\Cheque:You select the mode in which the cash is returned, e.g., "Cash".
Cash Item ID: Select from the drop down box, the "Cash Vault" where the cash is to be returned.
Click the Save button to complete the transfer.
Note that after returning the balance, Teller 1's account will show zero balance as seen below:
Click on the Close button to exit the screen.
You can view the daily transaction report at Cash->Cast Transaction Report that will look as follows:
