Miscellaneous Deposits and Miscellaneous Income

Miscellaneous deposits transaction is used for posting directly to a bank account cash received that has not been as a result of a receipt from a sales invoice or some other form of sales income. Items such as borrowings, interest received, capital contributions, share subscriptions, repayments of loans etc. As a miscellaneous deposit is always associated with a bank account, it is accessed from fly-out menu of the particular bank account.

If monies are received from a Customer and the user is not yet ready to allocate the funds to sales invoices use miscellaneous deposit to place them on the customer account by, on the line item, selecting the customer account. Amounts will be visible on the customer ledger.

Miscellaneous Income transaction is used for posting to a bank account cash received from sales/income sources that have not come from settlement of sales invoices or cash takings. VAT accounting is available if appropriate. Note miscellaneous income transactions will not appear on the customer ledger as they do not relate to sales invoices but to other income sources.

Miscellaneous Deposits

Miscellaneous deposits is accessed via the Accounts menu

Accounts - Bank Account - Miscellaneous Deposit

Note that if the Prompt for Analysis box (set in Profile) is ticked then when transactions are entered which require analysis to branches (Funds) or P11D reporting; the analysis tab is presented first by default so that the required analysis is not forgotten.

On the miscellaneous deposit tab the Deposit To defaults to the bank account selected, it may be changed if required. If required or relevant select a From name. This could be a customer, supplier, Employee or other third party but can be left as Not Applicable if preferred. Enter a Reference for the transaction if required and edit the Date of transaction if today's default date is not correct.

ADD ITEM button accesses the line item input. Select the Item from the account drop-down. This is the account that will hold the value of the amount paid into the bank account. Enter a Memo entry if required.

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.

Account

The account drop down list is used to associate the line item of a transaction with an account from the chart of accounts.

If nothing is displayed either
simply start typing an account name or ledger 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 third party (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

The analysis tab allows for further details to be added for recording if the entity is using Branches, activities or Funds.

A miscellaneous deposit transaction can be deleted or edited any time up to it being reconciled or running the year-end close routine. It is easiest to locate a particular transaction by listing the details of the appropriate bank account.

Accounts - Bank/Credit Accounts - click the relevant account

Select a date range, and a full listing of all transactions is presented. From the Action Box the transaction by be opened, analysed or deleted if not locked.

If the transaction is to be a regular one, OPEN the transaction and use the MEMORISE button, to set up a regular posting.

Miscellaneous Income

The miscellaneous income screen allows a user to input income from miscellaneous sources that have not come from settlement of sales invoices or cash takings. VAT accounting is also available if appropriate.

Miscellaneous income is accessed via the Income menu

Income - Add Miscellaneous Income

Note that if the Prompt for Analysis box (set in Profile) is ticked then when transactions are entered which require analysis to branches (Funds) or P11D reporting; the analysis tab is presented first by default so that the required analysis is not forgotten.

A refund of miscellaneous income can be recorded by clicking the 'Refund to Customer' box and continuing to complete the rest of the transaction as usual.

In the A/C box select the bank account into which the cash receipt is to be credited, a reference may also be entered.

As the transaction is for sales income a Customer is required, Select the Customer from the drop-down list or + button to enter the details for a new one. Make sure that a duplicate customer is not being created.

ADD ITEM accesses the line item input. Select the Item from the account drop-down, entering the value and if appropriate any VAT. Enter any Memo Text required. Note that if the organisation is set for Flat Rate VAT, the system will post an adjustment to recognise the flat rate liability as it does for other sales invoice income.

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.

Account

The account drop down list is used to associate the line item of a transaction with an account from the chart of accounts.

If nothing is displayed either
simply start typing an account name or ledger 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 third party (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

The analysis tab allows for further details to be added for recording if the entity is using Branches, activities or Funds.

A miscellaneous deposit transaction can be deleted or edited any time up to it being reconciled or running the year-end close routine. It is easiest to locate a particular transaction by listing the details of the appropriate bank account.

Accounts - Bank/Credit Accounts - click the relevant account

Select a date range, and a full listing of all transactions is presented. From the Action Box the transaction by be opened, analysed or deleted if not locked.

If the transaction is to be a regular one, OPEN the transaction and use the MEMORISE button, to set up a regular posting.

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