General Receipt
This transaction is used for entering miscellaneous receipts and cash sales for which you have not issued an invoice.
If the receipt relates to an issued customer invoice, use Customer Invoice Payment.
If the receipt relates to the refund of a supplier credit note, use Supplier Refund.
The starting point for creating this entry is one of the following options. View the relevant help files to see how the pop up window for New Receive Money is activated:
- Transaction ID: Automatically generated sequential number based on the Transaction Numbering settings for the organisation.
- Customer: Use the drop down list to select the appropriate customer. This field is automatically entered if you are processing a bank statement using an import rule. Note that when the Type selected is General, the customer is an optional selection.
- Reference: Enter any relevant information you may require eg. cheque number.
- Amount Received: Enter the amount of the receipt. This field is automatically entered if you are processing a bank statement in which case you can change this amount to a lesser value if you require. You cannot save the transaction if this value differs from the Total.
- Date: The date that the receipt took place. This defaults to the current date unless you are processing a bank statement in which case its the date provided by the bank for the line item.
- Bank Account: The relevant Bank Account for the receipt. This field is automatically entered if you are processing a bank statement or entering a receipt from the Bank Transactions path.
- Type: Type of transaction being entered which should be General. This field is automatically entered if you are processing a bank statement. It can be changed if required.
- Add New Line Item: If more than one line item is to be entered, click on this button to initiate the entry of the next line item.
- VAT Treatment: This option is only visible if your organisation is registered for VAT. It is mostly relevant to UK organisations with European sales or purchases. If entering amounts relating to refunds/returns, you may need to change the default VAT Treament. See VAT UK - Box by Box for information on how this setting affects the VAT Report.
- Show VAT Amount: Selecting this checkbox displays the VAT Amount field for each line item. The VAT amount can be changed if required.
- Amounts include VAT: This is ticked as the default setting for General Receipts. If required, remove the tick to continue entering amounts net of VAT. Be sure to check that the VAT is correct.
- Account: Enter the account against which the receipt should be recorded. Use the drop down arrow to search available accounts or click in the field and enter free text to find matching values. If you cannot find an appropriate account, check your settings for the Chart of Accounts and create a new account if required.
- Description: Enter a description of the receipt.
- VAT Code: Select the appropriate VAT Code which should be applied to the line item (default VAT codes can be set in Chart of Accounts). The codes chosen here impact your VAT Reporting. If you are unfamiliar with VAT, it is advisable to consult your accountant or the HMRC for advice.
- VAT: Only visible if Show VAT Amount checkbox selected. The VAT amount can be changed if required.
- Category: Only visible if Categories have been created. Optional field for further classification of line item.
- Amount: Line item amount.
- Delete Line: This button allows you to delete an unwanted line item if there are no validation restrictions (such as the transaction being included in a Bank Reconciliation or VAT Report).
- Memo: Enter information applicable to the entire receipt.
Click the Save button to complete the General Receipt.
NOTES
Unlike, Invoice Payments and Refunds, General receipts do not save values to the Accounts Receivable account. The Customer field in this type of bank transaction is optional and for information purposes only.
The transaction can only be saved if the Amount Received equals the transaction Total.