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Cash Receipts command (Transactions menu)
Use this command to display a form that allows you to record cash receipts.
The Cash Receipts Form is organized as three sections: Record Bank Deposit, Classify Bank Deposit, and Entries List.
The process of recording a cash receipts transaction is as follows:
- In the Record Bank Deposit section, enter the transaction Date, select a Depository Account, and enter the total amount of cash increase as the Amount of Deposit.
- In the Classify Bank Deposit section, select the type of transaction you are recording in the Classify As dropdown list, then complete the enabled form fields and controls that remain. The Amount(Credit) may be more or less than the Amount of Deposit.
- Click the Accept button. The details of Amount(Credit) are then moved to and displayed in the Entries List section.
- If Amount of Deposit consists of more than one Amount(Credit) , repeat steps 1 through 3 until SUM= in the Status Bar equals zero.
- When SUM= is zero, you may click Done to record the transaction and proceed.
Data Members:
Date
Provides a place for you to specify the transaction date in the form mmddyy or mm/dd/yy. The field must contain at least six numerals and may contain up to two slash (/) symbols. No other symbols are acceptable.
Depository Account (Debit)
Allows you to select a cash account as the current depository account for subsequent transactions. The selected account becomes the debit side of the accounting entry.
Income Cash Available
Displays the balance of income cash available in the selected depository account before the current transaction.
Principal Cash Available
Displays the balance of principal cash available in the selected depository account before the current transaction.
Total Cash Available
Displays the sum of income and principal cash available in the selected depository account before the current transaction.
Amount of Deposit
Provides a place for you to specify the amount of deposit or total deposited.
The entry may contain twenty digits including one decimal point. Commas are not acceptable.
A maximum of two digits to the right of the decimal point is allowed. Digits to the right of the decimal point beyond two are removed. Rounding is not performed.
Entries with less than two digits to the right of the decimal point are expanded to two.
Classify As
Displays a list of transaction types to aid you in the transaction recording process. Select the nature of the current cash receipt from among the following choices:
Earned income - Interest, dividends, rent and other income produced by income and principal assets.
Sale/maturity/redemption Income - Recognizes gain and loss on converted income assets.
Sale/maturity/redemption Principal - Recognizes gain and loss on converted principal assets.
Receipt of accrued income Income - Relieves carrying value of accrued income assets.
Receipt of accrued income Principal - Relieves carrying value of accrued principal assets.
Collection of an asset Income - Relieves carrying value of certain income assets.
Collection of an asset Principal - Relieves carrying value of certain principal assets.
Additional debt Income - Recognizes new income debt.
Additional debt Principal - Recognizes new principal debt.
Other Income - All other income receipts.
Other Principal - All other principal receipts including capital gain dividends.
Credit Account Category and Name
Allows you to select an account.
Units Balance
Displays the balance of the number of units of the currently selected account before the current transaction.
Account Balance
Displays the carrying value balance of the currently selected account before the current transaction.
Number of Units
Displays the Units on Hand dialog box to assist you in recording transactions involving securities.
Unit Value
Provides a place for you to specify a transaction unit value.
Amount (Credit)
Provides a place for you to specify the amount of the current Credit of the current transaction.
The entry may contain twenty digits including one decimal point. Commas are not acceptable.
A maximum of two digits to the right of the decimal point is allowed. Digits to the right of the decimal point beyond two are removed. Rounding is not performed.
Entries with less than two digits to the right of the decimal point are expanded to two.
Gain/Loss Account
Lists the gain/loss accounts that are available to record the current transaction gain or loss.
Gain/-Loss
Displays the amount of gain or loss on the sale of assets. This is a calculated amount.
Description
Provides a place for you to type a description for the current transaction. Text can be copied from a selection in the Prior Text drop-down box that displays in the toolbar.
Entries List
Accumulates and displays the previously recorded elements of the current transaction.
Also see: Cash Disbursements; Non-Cash Transactions; General Journal
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