Record Takings

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 undeposited receipts in the Cash/Undeposited Receipts 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.

Reference

Enter any reference to be associated with the transaction.

Transaction Date

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.

Deposit To

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.

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.

tender Type

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: -

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.

If nothing is displayed either
simply start typing an account name or ledger codeledger code and the system will provide a list of potential selections; choose the required account by clicking on it.
or click the Search icon
to display a list of document-type sensitive account possibilities. Note to change to other account-type options click the small down arrow at the base of the screen
If an account is displayed
In many instances once a counterparty (customer, supplier or employee etc) has been selected the account box will display a default learned account. For other associated learned accounts click the Search icon. Note to change to other account-type options click the small down arrow at the base of the screen

Amount

The amount associated with the line item.

Departments, Activities and Funds

Line item entries may be analysed to Departments and/or Activities where this has been activated. In addition, for Not-for_profit Organisations a Fund must be selected.

In each case use the drop-down to choose the analytical area appropriate to the line item. If no selection is needed just leave the field or select Not Applicable.

For information about analysis areas see Sites, Departments and Activities

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 Cash/Undeposited Receipts offers some help for dealing with the mix of income in an efficient manor for both the user and the system.

Related Topics