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Recording cash receipts - Coggle Diagram
Recording cash receipts
10
11
9
Calculate early payment discount
Select receipts
Select month in which you receive the money = March 2016
Blue screen = receipts
Select the day on which you deposited the money = 9 March 2016
Yellow screen = payments
Select C => Cash sales are part of Debtors
Deposit slip 07 => Cash sales
Click magnifying glass => D007
Process => Cash book => Process cash book
Fill in reference => DEP07
Cash receipts are never recorded from the cash register roll and receipts
Description => Use original transactions reference number = CR01
Cash receipts are always recorded from the bank deposit slip
Bank amount => R6642
In total R10 962 of cash must still be deposited which is in the cash register in respect of cash sales
Ok
View => Customers => Detailed ledger => By customer
Customer account start D007 and end D007
View open batches? => NO
View => Customers => Detailed ledger => By customer
Select debtor N Bester => D006
Period start => 01-01/03/16 - 31/03/16 March
Period end => 01-01/03/16 - 31/03/16 March
Sales => Credit (+) 100
Cash sales debtor => Debit (+)
Click ok
N Bester owes us a total of R3940. He only pays us R3743 in respect of his account
R3743
Click on blue tax invoice
RCPT200
Then you will see the settlement terms
DEP08
Entitled to a cash discount of 5% on invoice
R3940 x 5% = 197 discount
R3940 - R197 = R3743 payment
D006
Close
Select C
Discount R197
Select day => 11 March
Select month in which you receive money => March 2016
Calculate early payment discount
Select C
Account => D002
Date => 27 March 2016
Select month in which receive money => March 2016
Reference => DEP10
Opening balance => 15 000 => no discount
Invoice - CN => 59 950 x 95% = R56 952,50 => Discount = 59 950 x 5% = R2 997,50
Total => R71 952,50 => Equal to payment
Description => RCPT202
Settlement terms => 5% within 30 days from invoice date
Bank amount => R71 952,50
Click on the blue tax invoice
Discount => R2 997,50
The net amount of the invoice + credit note = R60 390 - R440 = R59 950
Update receipts batch
Oceanview owes us a total of R74 950. He only pays R71 952,50 in respect of this amount
DON'T Tick
Update
Ok
View => Customers => Detailed ledger => By customers
View open batches => NO
Account start => D001
Customer account start => D002
Account end => D007
View => Customers => Detailed ledger => By customer
Select ok