Recording a Bank Receipt

Use Bank > New Receipt to record any money you receive that does not go to pay invoices you have sent. For example, you can record;
Bank interest.
Dividends received.
Money received for an insurance claim.
Money received from a grant.

The Bank Receipts facility is often used by cash businesses, for example, newsagents, bars and restaurants, where customers pay at the time of purchasing and no invoice is raised.

You can record details of this money received in one or more of the different nominal accounts. By allocating your income to different accounts you can see at a glance the different sources of your money and how much you are receiving from each source. For example, you would record money you received from an insurance claim to the nominal code 4903 (Insurance Claims). The window that appears for you to enter your receipts is the same, whatever the type of bank account that you select; Cheque Account, Cash Account, or Credit Card Account. However, each type of account records a different transaction type onto the audit trail. Make sure when you are dealing with credit card receipts that you have selected the correct credit card bank account.

Select Bank > New Receipt.
The Bank Receipts window appears.
For each receipt, enter the relative details one line at a time.

If you calculated the batch totals manually before you started entering them in Sage 50 Accounts, check your totals against those shown on the Bank Receipts window.

If you are using Foreign Trader and have set up foreign bank accounts, the Currency and the Exchange Rate are displayed as well as the standard information listed in this procedure.

To accept your entries, click Save. The details are 'posted' instantly to update the appropriate nominal and bank accounts, and the Bank Receipts window clears. If you don't want to save this batch, click Discard to clear the data and start again. The Discard button does not however cancel any batch entries you have already saved. To exit the Bank Receipts window, click Close.

Posted in: bank