This transaction allows the recording of any takings.
Either from a till-roll summary or a manually recorded summary, the details of income values will be available. Cash and Cheques will be recorded as un-deposited funds in the Un-deposited funds account as they have not yet been paid into a bank, and therefore are still held on hand inside the organisation.
Credit/Debit card income is recorded in an Anticipated Receipts via Payment Processors Account or an appropriate sub-account until the cash is received from the Card Company or BACS and use bank transfer to record the cash receipt to the relevant bank account.
Enter any reference to be associated with the transaction.
The Takings Breakdown date defaults to the current date, it may be overridden as required.
VAT Breakdown (VAT Registered Organisations only)
For a VAT registered organisation, prior to using this transaction you must have recorded the associated VAT Breakdown.
A VAT breakdown will not show or be required in a non VAT registered organisation.
The list of VAT Breakdown transactions not yet processed as takings is displayed in the drop-down
A relevant VAT breakdown transaction must be selected when recording takings. The value of both the VAT Breakdown transaction and the Record Takings transaction must balance.
For a Non-VAT organisation the bank account (or undeposited Funds) to which any amount is to be deposited. This will not be visible on the case of a VAT registered entity.
If required select an appropriate branch or fund (in the case of a Not for Profit Organisation) to which the transaction is analysed.
If required select an appropriate activity to which the transaction is analysed.
Note that Branch/Fund and Activity fields will only be visible in the case of a Non-VAT organisation.
The line items that make up the Takings Breakdown now need to be added.
ADD ITEM button accesses the line item input.
SAVE ITEM button saves that line item in the screen. Clicking ADD ITEM button on each occasion allows user to enter further Line items. UNDO ITEM cancels the current line item data.
Each line item of income may be analysed by tender type; if the analysis is not required simply select any one of the types for each lien item. Select from: -
- Credit Card
- Debit Card
- Direct Debit
- Standing Order
Income account or Deposit To
For a VAT registered entity select a Deposit To account associated with the line item.
For a Non-VAT entity select the Income account associated with the line item.
The amount associated with the line item.
If visible and necessary the default Branch/Fund and Activity from the header my be overwritten for each line item.
Dealing with Church Collections
Most churches will have at least weekly collections of cash, cheques, gift-aid envelopes and perhaps card reader postings. This topic Regular Church Collections and Un-deposited Funds offers some help for dealing with the mix of income in an efficient manor for both the user and the system.