The Cash Box Payment process is used to manage transactions that have affected cash accounts which are connected to payment institutes of type Cash Box. Supplier/customer payments and direct cash payments are the only transaction types that are allowed in this special type of cash account. When transactions of these three types are performed and if they are carried out through a cash box payment institute, the cash box process will be effective. If other cash accounts are used, the mixed payment process will be effective.
The cash box process is handled in the Cash Box window. A cash box is account-specific and applies to a time period which can start from a date later to the date on which the previous cash box was approved. Cash box contains details of the cash account, the payment institute, currency information and balance information. When new transactions are entered the distinction between the opening and the closing balances in the cash account can be identified. The sequential order in which the cash box payments are entered ensures that each cash box must be approved before another one can be entered. The order of the cash boxes are signified by the Cash Box Report Number. Transactions cannot be entered in a cash box once it has been approved. The payments and the voucher will be created when the cash box is approved.
Using the cash box process, all the transactions carried out using a cash box cash account within a specific period of time are entered in order of the date of entry. These transactions are first separately printed as receipts. Then, details of all the transactions are collectively printed as a cash box report, i.e. one cash box represents one cash received/cash paid document. This process allows for transactions to be printed as receipts as soon as it is performed and entered into the system. It can be posted to the relevant accounts later. After a transaction is printed, it can be cancelled, but a printed transaction cannot be deleted. Transactions are entered in sequential order and includes the cancelled receipts. Cancelled transactions are also included in the cash box report because a receipt has already been produced, but it will be crossed out to indicate that it is cancelled. The amounts in cancelled transactions will not be reflected in the report. This facility allows the maintenance of detailed information pertaining to transactions performed through a cash box cash account.
Before printing the receipt the transaction amounts can be matched with existing invoices. Transactions which are not fully matched or not matched at all can be saved as Parked Invoices, Payments in Accounts or as Different Items. With the possibility of matching invoices, the Cash Box window can be used to enter several payment transactions within one payment. When payments are matched with the invoices, the payment and the matched invoice will be assigned a unique ID and a user date. This matching ID will be shown in both invoices and payments, in the relevant queries and reports, which makes it easier to identify which payment is connected to which invoice.