Cash Box—Exercises
IMPORTANT |
It is extremely important that you set up and work within your own
company and with your own customers and suppliers to maintain your
data integrity. If you work with any other objects, your exercises will
not function as intended and the data of other students might be affected.
Predictable exercise results require that your data must be isolated in
your own company. |
Basic Data Setup
Purpose: The purpose of this exercise is to enter a new
tax code to be used in the following exercises.
Windows:
Tax Codes
- Open the Tax Codes
window and populate.
- Select an existing record, for example, tax code 1.
- Create a duplicate, change the identity of the tax code to P1,
change Valid From to a previous date.
You can select either Invoice Entry or Payment for Tax Method Received
and Tax Method Disbursed.
- Save your changes.
Purpose: The purpose of this exercise is to set up
posting control for the new tax code to be used in the following exercises.
Windows:
Posting Control
- Open the
Posting Control
window and query for posting types where Control Type = AC7 (tax
code).
- As a result, you will have a number of tax-related posting types, among
others IP4 and PP45.
- Select the line with posting type IP4, right-click and then
click Details.
- Add your new tax code. You can also create a duplicate of tax
code 1 here.
- Save and close the
Posting Control Details
window.
- Select the line with posting type PP45, right-click and then
click Details.
- Add your new tax code. You can also create a duplicate of tax
code 1 here.
- Save and close both windows.
Purpose: The purpose of this exercise is to prepare the
cash account
for the cash box.
Windows:
Cash Accounts
- Open the
Cash Accounts
window and populate.
- Choose the cash account CASH or define your own cash
account based on payment institute CASH. The Cash Box check box will
be selected for the payment institute CASH.
- Set the
balance method to Detailed for your cash account.
- Save.
Required Data
Purpose: The purpose of this exercise is to enter the
data required to run the cash box functionality.
- Enter or create a few invoices for three different customers. Enter
at least one invoice in a currency other than your accounting currency.
Link to
Manual Customer Invoicing
Purpose: The purpose of this exercise is to enter the
data required to run the Cash Box functionality.
- Create Customer Invoices in another
company other than your default company for one of your customers.
Link to
Manual Customer Invoicing
Purpose: The purpose of this exercise is to enter the
data required to run the cash box functionality.
- Enter a few invoices for three different suppliers.
- Authorize the invoices/installments for payment.
Link to
Arrival Entry Supplier Invoice
Link to
Authorize Supplier
Invoice
Cash Box
Purpose: The purpose of this lesson is to enable users
to enter various types of payments into the cash box process.
The cash box process is used to manage
cash box in the company. All incoming and outgoing cash transactions are
registered in the application. Depending on the direction and kind of the person
paying or receiving money proper transaction type should be chosen. There are
three available transaction types in cash box: Enter Customer Payment, Enter
Supplier Payment, Direct Cash Payment. The last one is used when payment is not
connected to either customer or supplier . The account and other code parts are
specified directly on the transaction.
The right mouse button option Match Payment can be used
to match transaction with invoices/installments. If one invoice is paid then it
can be entered directly on the transaction.
In the following exercises, you will
enter payment transactions one at a time, in the same cash box. When the
cash box is approved, a voucher will be created including all these payment
transactions. If you would
like to view the postings created by each exercise, you can approve
the cash box after each exercise, and then start the next exercise by
initiating a new cash box.
The invoice currency can be different
from the currency of the cash transaction which results when the invoice is
paid. All transactions in one cash
box has to be specified in cash account currency.
To see the difference between
using balance methods Detailed and Group, go through the following exercises
twice, once for each balance method.
Purpose: The purpose of this exercise is to enter a customer
payment and match it with several invoices.
Windows:
Cash Box
- Open the Cash Box
window and create a
new record.
- Enter your cash account or use the List of Values to
select a value for the Cash Account
field. You will get default values for currency and currency rate, balance
method in the
Header Details tab.
- Go to the detail table on
Transactions tab
and create a new record. In the
Transaction Type list, select Enter
Customer Payment.
- Use the tab key to move to the Payer/Payee Identity
field where you enter the
identity of your customer. You can also use the List of
Values.
- Enter an amount that will cover two of the invoices/installments for this customer. A
positive amount, as a customer payment has a positive effect on
the cash account.
- Save the payment transaction.
- Select the payment transaction line, right-click and and then
click Match
Payment. This would open the
Matching window and the
Select Batch of Invoices dialog box which will be populated with open ledger
items.
- Select two of your invoices/installments and click
OK.
As a result, the invoices/installments will be copied
to the matching window.
- If there is a remaining amount in the matching window header, the amount
on the payment transaction will not match the two invoices/installments. You can
then
either change the paid amount for one or both invoices/installments, or change the amount
on the payment transaction after having confirmed the matching.
- Click OK to confirm the matching.
You have now completed the first payment transaction in the Cash Box,
and can continue with the next exercise.
Purpose: The purpose of this exercise is to enter a customer
payment and match it with one invoice/installment.
Windows:
Cash Box
- As we continue in the same cash box as in the previous exercise,
leave the
Transactions tab window open.
- Create a new record and select Enter
Customer Payment from the list for the Transaction Type field.
- Use the tab key to move to the Series ID field
and enter
the series ID for the invoice to
be paid. The List of
Values can be used to select a series ID.
- In the Invoice No field, enter the number of the invoice to
be paid, or use the List of
Values.
- In the Installment Id field, enter the number of the installment to
be paid, or use the List of Values
- The customer ID and amount of the invoice/installment is now displayed in the
payment transaction.
- Save the payment transaction.
You have now completed the second payment transaction in the Cash Box,
and can continue with the next exercise.
Purpose: The purpose of this exercise is to enter a payment received from a
customer without knowing what is being paid for.
Therefore, we will enter the payment without matching
with invoices.
Windows:
Cash Box
- As we continue in the same Cash Box as in the previous exercise,
leave the
Transactions tab window open.
- Create a new record and select Enter
Customer Payment from the list for the Transaction Type field.
- Use the tab key to move to the Payer/Payee Identity
field and enter the
ID of the customer who made the payment. You
can also use the List of Values.
- Enter the paid amount. A positive amount, as a customer payment has a
positive effect on the cash account.
- Save the payment transaction.
Note: Since this payment is not matched with
invoices/installments and only the
customer is specified, a payment on account will be
created when the cash box is approved. This payment on account can later be offset with customer
invoices/installments.
You have now completed the third payment transaction in the
cash box,
and can continue with the next exercise.
Purpose: The purpose of this exercise is to enter a Direct Cash
Payment,
which is payment not related to any customer or supplier. The account and other
code parts are entered directly on the transaction.
Windows:
Cash Box
- As we continue in the same Cash Box as in the previous exercise,
leave the
Transactions tab window open.
- Create
a new record and select Direct
Cash Payment from the list for the Transaction Type field.
- Enter the paid amount, which will be displayed as a negative
amount.
- In the Tax Code field, enter your new tax code
to create a tax posting. Note: It is not mandatory
to enter a tax code for direct cash transactions if no tax postings are
needed.
- The tax amount will now be calculated and displayed.
- In the Account field, enter a proper cost account.
- Save the payment transaction.
You have now completed the fourth payment transaction in the
cash box,
and can continue with the next exercise.
Purpose: The purpose of this exercise is to enter a General
Payment
that should be posted to several cost accounts.
Windows:
Cash Box
- As we continue in the same Cash Box as in the previous exercise,
leave the
Transactions tab window open.
- Create
a new record and select Direct
Cash Payment from the list for the Transaction Type field.
- Enter the paid amount, which will be displayed as a negative
amount.
- In the Tax Code field, enter your new tax code to create a tax posting. Note: It is not mandatory
to enter a tax code for direct cash transactions if no tax postings are
needed.
- The tax amount will now be calculated and displayed.
- Save the payment transaction.
- Select the payment transaction line, right-click and
then click Manual Posting. This will open a dialog box where you can post your payment.
- Select Gross Amount Entry as the amount method. This means that the amount
entered on each line will be taken as gross amounts when it comes to calculating the tax amount.
- Enter two lines with different accounts and split
the payment amount between the two lines.
- Click OK.
- Save the payment transaction.
You have now completed the fifth payment transaction in the Cash Box,
and can continue with the next exercise.
Purpose: The purpose of this exercise is to
print cash receipt for entered transaction.
Windows:
Cash Box
- As we continue in the same Cash Box as in the previous exercise,
leave the
Transactions tab window open.
- Select the entered transaction and click right
mouse button option Print Cash Receipt.
- In the Print Report dialog box,
select Preview or click
OK to send the report to the printer. Verify that the information printed is
correct.
- Verify that the state of the transaction has been
changed to Printed.
- Verify that the columns
Transaction No, Transaction Date, Payer/ Payee Identity, Cash Receipt
payer/payee, Text, Amount and Amount in Acc Currency cannot be
modified after the receipt has been printed.
Purpose: The purpose of this exercise is to
print cash box report for all entered transactions during the day or other
chosen period.
Windows:
Cash Box
- Select the cash box, right-click in the header, and
click Print Cash Box Report.
- In the Print Report dialog box,
select Preview or click
OK to send the report to the printer. Verify that the information printed is
correct.
Purpose: The purpose of this exercise is to approve a
cash box.
Windows:
Cash Box
- As we continue in the same cash box as in the previous exercise,
leave the
Transactions tab window open.
- Right click in the upper part of the tab and then
click Approve. As a result, the Approve Cash Box dialog
box will appear on the screen,
showing information on the voucher date, accounting period, user group, and voucher type. The voucher type for a voucher created
in cash box must belong to function group CB.
- Click OK.
Note: Another dialog box will appear showing the identities of the Voucher and
the Payments created. Note that there are three payments created, one customer
payment, one supplier payment, and one general payment.
- Take note of the Voucher Type and Number and Payment Series
ID and Numbers.
- Click OK to close the dialog box.
Note: The status of the Cash Box has now changed from Not Approved to Approved.
- Close the Cash Box
window.
- To analyze the payments and voucher created, use the following query
windows:
-
Voucher Analysis to view the voucher
created.
-
Cash Account Balances Analysis to analyze the cash account balance and the cash transactions.
-
Query - Cash Box Details to
view details of the Cash Box.
Note: Check out the difference between Detailed
and Group balance methods. If you have
used Detailed as the balance method, you should for example see
eight Cash Transactions and eight postings
to the Cash account. If you used Group, you should only see three Cash
Transactions and three postings to
the Cash account. One per payment created.
Purpose: The purpose of this exercise is to
un-match invoices paid by given payment transaction. This operation is possible
in approved Cash Box. The parked payment is created for the total of the matched
invoices. The invoices are opened back for payment. This function should be used
when wrong invoice has been matched.
Windows:
Cash Box
- Open the Cash Box
window find the cash
box which is
approved. In the
Transactions tab, query for the Enter Customer Payment
or Enter Supplier Payment transaction, which is matched with invoices.
- Select the line, right-click and click Cancel Matching.
- Click OK in the
Cancel Matching dialog
box.
- Click OK in the dialog confirming that payments
and voucher has been created.
- Analyze the voucher created in the query form
Voucher Analysis
- Verify the open amount of the invoices which has
been unpaid in the following windows.
- Payment/AR Queries and Reports/Query
Customer Details or
- Payment/AP Queries and Reports/Query
Supplier Details