Overview of Petty Cash functionality

Introduction

An overview of the new cash advance functionality through the new menu path at Cash flow/Entries/Cash advance

Description

A new setting for defining a general journal for the costing transactions to be recorded has been created

This will be the general journal where the invoices' transactions will be recorded. If a general journal has not been specified yet, while clicking the new button, cash advance button in the cash advance entry screen will return a message pop up like below image

Users can create new, edit, delete and select cash advance entries through this browser which has the similar columns and filters like the existing cash flow's browser

Date

Date range from and to of cash advance entries

 

Show

All - show all cash advance entries regardless matched or unmatched

Open - show open entries which are unmatched and unallocated

 

View

Transactions - show entries in details

Statements - show entries in groups of bank account

 

Own bank account - filter only cash type cash instruments

 

Type - default to cash and not editable

 

Statement - filter the statement number of entries

 

From/to bank account - to enter employees' bank account

 

Pay.ref. - to enter the payment reference of a cash advance entry

 

Account - filter only employee type creditor

 

Refresh - refresh button to refresh screen

 

Zoom - Zoom button can only be used for statements view

 

Delete - to delete the cash advance entry

 

New - to create a new cash advance entry

 

Edit - to edit an existing cash advance entry

 

Close - to close the screen

 

Upon clicking New, above screen will appear. Amount column can be treated as either payment or receipt. If is receipt, there will not be a negative sign in front of the value and this will be treated as a receipt to purchase credit note. If is with a negative sign, then is consider payment to purchase invoice. Type/Method columns will be disabled. Allocation to creditor can only select employee type. The new button for this screen will be cash advance where entries are book to cost general ledgers.

 

Unmatch button has changed to void entries button. Functionality is the same where entries are unmatch and the expense lines are voided simultaneously

 

Upon clicking cash advance button, above screen will appear. This is similar to cash flow entry's booking to cost general ledgers. G/L column can only select a few types of general ledgers. They are:-

• Expense GL (Purchase invoice)

• Revenue GL (Purchase credit note)

• Neutral GL for both Balance Sheet and Profit and loss accounts.

 

Date - shows date of entry

GL description - shows general ledger description

Description - allows user to type in description of payment

Your ref. - allows user to enter your reference which is a compulsory field

Crd.G/L - can only select creditor general ledgers

Creditor - can select both supplier and employee accounts

XRate - shows the exchange rate of a foreign currency which has been set from System/General/Countries/Exchange rates

Amount - user must enter the amount to book on

Amount in DC - shows amount in default currency

Tax - only can select including type of taxes

Tax amount - shows tax amount

 

In Advance button, additional columns will be available such as Project, Cost center, Cost unit, Item and Resource.

 

After the entry is saved, reopen cash advance screen will have a new button Edit for users to edit the entry.

 

 

Users are able to edit the entry as long as it has not been processed through Finance/Entries/Process. If the entry has been processed, clicking edit button will return a message pop up

       

 

Click No will not allow for editing. Click Yes will allow user to edit the entry and the old transaction will be deleted. The new modified entry will have to be processed again. Unmatching and unallocating the entry will also prompt up the same message if user wants to edit the cash advance entry upon clicking the cash advance button

 

Un-matching at other applications is not allowed. The above message will be prompted when user un-matches the cash advance entry at other applications.

 

If inconsistencies are found at the Diagnose function, the entries will be unmatched and not voided. User can manually void the entries if required

 

 

IMPORTANT:

 

When creating a new cash instrument for this cash advance functionality purpose, Bank/Type columns have to be filled with Cash type

 

Related documents

 

Release 390: New Petty Cash Functionality