Enter Cash Transfer Transaction Cash Box

Explanation

This activity is used to enter and post money transfers between the cash account for which the Cash Box is entered and another cash account of the same company (= counter cash account).

There are two different methods to create the postings for the counter cash account:

• Create a cash transaction for the counter cash account. This method is to be used if the counter cash account is not connected to a cash box and no separate mixed payment is created for the counter cash account. The cash balance of the counter cash account will be updated on the same date as the cash balance of the cash box cash account.
• Create an interim posting which will be balanced when the counter cash transfer transaction in a mixed payment or a cash box for the counter cash account is created and approved. This method is to be used when a separate mixed payment or a separate cash box is created for the counter cash account. It is the only method which is allowed if the counter cash account is connected to a cash box.

 Prerequisites

In order to perform this activity:

• A cash box of the Entered status should exist.
• The Cash Transfer transaction type should be set to Used for the cash box cash account.
• A counter cash account in the same company should exist for which Cash Transfer is allowed, i.e. the Cash Transfer Method must be different from Not Allowed.

System Effects

This entry allows the cash transfer to be printed as a receipt. Receipts have to be printed for all entered transactions.

For both cash transfer methods a cash transaction and a posting of the PP1 posting type are created for the cash box cash account, and the cash account balance of the cash box cash account is updated.  A payment of the General Payment type is created.

If the Cash Transaction cash transfer method is selected a cash transaction and a PP1 posting with the reversed amounts are created for the counter cash account too. The cash balance of the counter cash account is also updated with the reversed amount.

If the Interim Posting cash transfer method is selected neither a cash transaction nor a PP1 posting are created for the counter cash account but a PP77 posting with the reversed amount is created instead. The cash balance of the counter cash account is not updated.

Window

Cash Box

Related Window Descriptions

Cash Box
Cash Boxes Analysis
Cash Box Analysis

Procedure

To enter a cash transfer transaction:

1. Open the Cash Box window and query for the Cash Box in which you you want to include the cash transfer transaction.
2. Create a new record.
3. Select Cash Transfer for the Payment Transaction field (if not suggested as default for the cash account of the Cash Box).
4. Enter the transfer payment amount in the Amount field. For an outgoing cash transfer  (= transfer from the Cash Box cash account) enter the amount with a minus sign in the Amount field or enter the amount in the Credit Amount field, for an incoming cash transfer  (= transfer to the Cash Box cash account)  enter a positive amount in the Amount field or enter the amount in the Debit Amount field.
5. Enter the cash account to or from which the amount is transferred in the Counter Cash Account field, or select the counter cash account from the List of values. The account number of the counter cash account is displayed in the Account Number field, and the cash transfer method of the counter cash account is suggested in the Cash Transfer Method field.
6. Select Cash Transaction for the Cash Transfer Method field, if you want the cash balance of the counter cash account to be updated when the current Cash Box will be approved. Select Interim Posting for the Cash Transfer Method field, if the cash balance of the counter cash account must not be updated but a separate Mixed Payment/Cash Box will be entered for the counter cash account. Note: If the counter cash account is connected to a cash box, only Interim Posting is allowed.
7. In the Cash Receipt Payer/Payee field, the short name and account number of the counter cash account are displayed. Update the Cash Receipt Payer/Payee field if you want other information be printed as cash receipt payer/payee.
8. Save the information.
9. Right-click and click Print Cash Receipt to print the cash receipt for this transaction. The Cash Receipt Status of the transaction is set to Printed, and the transaction can no longer be modified.