Cash Book Statement Entry
Cash Book Statement Entry provides a quick method of entering a single line transaction directly from a Bank Statement into the accounts. This means you can enter payments directly from the Bank Statement, rather than entering them into the accounts and then checking them against the statement.
The feature also enables you to correct the opening and closing balances on your bank statement by entering single line transactions for an individual Customer, Supplier, Nominal Account or VAT Account.
Transactions entered this way will be automatically reconciled.
There is a facility to Allocate the transaction immediately.
The transactions will be listed on a window so that you can see the progress of the reconciliation.
The Opening and Closing Balances are shown in the currency of the selected bank account.
The Statement Entry option will be disabled if another User has already opened the Statement Entry window for the selected bank.
If a specific currency record is selected, the information for that record will be displayed in that currency. If an Any Currency record is selected, the information for that record will be displayed in your Home currency. Transactions for Any Currency records must be allocated in your Home currency. Exchange differences will be accounted for.
The window has two parts:
Left hand side is for transaction entry and contains both Header and Detail fields:
Each transaction will have a single detail line.
The Date defaults to that from the statement header.
The Analysis code defaults to that of the Bank Account selected on the main Cash Book window. This will determine the individual postings made to the Nominal Ledger for the single line transaction.
The right hand side shows the statement information and the transactions that have been entered.
When transactions have been entered and the total agrees to the difference between the Opening Balance and the Closing Balance, then they can be saved.
Depending on whether the Working Periods feature is enabled and on your Security Profile permissions, it may be possible for you to continue to post financial changes, for month end procedures, even after the posting period has been advanced; in this situation the Period becomes a drop-down and you can select the appropriate period.
Toolbar
This function is disabled until the Statement Entry has been posted. Here you can produce a Financial Journals report for the currently selected Bank Account, showing the Start Balance, the individual Transactions, and the Final Balance.
Options
The options window is opened from the Cash Book Statement Entry window by clicking on the Options icon.
Pop up Allocation window when tab to new line
Update list when tab to new line
Bypass Costing - select this to bypass the costing fields at the bottom of the window.
Allocate
This function enables you to search for and allocate Supplier and Customer transactions without leaving the Cash Book Statement Entry window.
A selection window for an adjustment transaction opens; the type of transaction will determine whether it is an Increase or a Decrease adjustment.
The amount to allocate is displayed at the foot of the window, along with the amount selected and the unallocated balance.
New
The next Statement Ref. (an internally generated number) and the Date fields will be populated. These fields can be edited.
OK
When you have finished entering transactions, click OK to close the statement entry. You will be warned if your statement entries do not match the difference between the opening and closing bank balance.