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Note: You can enter payments or receipts in the Cash Book as well as the Nominal Ledger. If you are using the Cash Book to control cash transactions, you can enter foreign currency transactions using this routine.
Use these routines to record money you receive, or have paid, that does not relate directly to a customer or supplier transaction.
Note: Receipts and payments made in respect of customers and suppliers should be processed through the Sales Ledger, Purchase Ledger or Cash Book, where appropriate.
These routines direct the postings to either the Cash Book bank account or the Nominal Ledger bank account, depending on which module you are using to control cash transactions.
Note: You cannot enter foreign currency transactions if you are using the Nominal Ledger to control cash transactions.
If you are using Project Accounting, you can also add project analysis details to the transaction.
You can print a cheque, using this routine, provided the cheque is in your base currency. You cannot print a foreign currency cheque.
Any transaction entered using this routine can be analysed over several nominal accounts with one posting made to the bank account.
When dealing with foreign currency transactions:
The transaction currency and bank currency do not need to match. This means you can record a foreign currency transaction, even if you do not operate a foreign bank account in that currency.
Note: Exchange rate variations are handled in the Foreign Bank Revaluation option in the Cash Book.
Note: Nominal postings are in base currency. If the bank account is a foreign currency account, the default exchange rate set up in your exchange rate table is used to convert the value from the bank’s operating currency to base currency for the nominal postings.
Note: If the transaction is non taxable, only one entry is posted to the bank account, representing the total of the nominal analysis lines.
Open: Nominal Ledger > Enter Transactions or
Open: Cash Book > Payments and Receipts > Nominal >
- Nominal Taxable Receipt.
- Nominal Taxable Payment.
- Nominal Non-Taxable Receipt.
- Nominal Non-Taxable Payment.
If you are using a foreign currency bank account, you can change the Exchange rate to base once you enter a Cheque value for the transaction.
Note: The Nominal Ledger is only available for use, if you have no bank accounts set up in the Cash Book. In this case, you cannot enter foreign currency transactions.
Note: You cannot print a cheque for a foreign currency transaction.
Note: Once you enter the cheque value, you can amend the Exchange rate to base, if required. Click the icon () to the left of the box to open the window; then amend the rate.
If the cheque is in a different currency from the bank account currency, you can change the Exchange rate for the bank account to the cheque currency.
If you do not amend the exchange rate, the displayed exchange rate is used for the transaction.
Note: If a loss has been made, then enter the amount as a positive value, e.g. 125.00. If a gain has been made, then enter the amount as a negative value e.g. -125.00.
Select As Cost or As Revenue to post the value of the transaction to the project.
Note: The Project Item must be set up to contain the cost or revenue option you have chosen.
Click Print to print the cheque.
You cannot print a foreign currency cheque. Once you have printed a cheque, you cannot re-print it.
Note: This message will only be displayed if you have selected Display cheque printing message when entering nominal payments from the Nominal Ledger Settings > Options tab.
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