Entering Creditor Sundry a/c Receipts

A Creditor Sundry a/c Receipt is a transaction used to accept and allocate monies received against other outstanding transactions.
Receipts from Creditors are unusual but may be required if you have overpaid the Creditor.
It is the reverse of a Payment transaction.

Transact

Suppliers

Receipt

Mandatory Prerequisites

Prior to entering a Creditor Sundry Account Receipt Transaction, refer to the following Topics:

Accounting Periods (flagged as Current and Open for the Division) - Maintaining Accounting Periods

Cash Book (Bank Account) Chart of Account - Maintaining Chart of Accounts

Creditors Sundry Account - Maintaining Creditor Sundry a/cs

Transactions to be Receipted - These are outstanding / residual Invoices, Credit Notes, Payments and Receipts.

Screenshot and Field Descriptions

Receipts follow the Double Entry book-keeping rule of having a balanced set of entries.

A Red Credit Cash Book Total on the Left, balanced by net Black Debit Creditors Control Receipt Allocations on the Right.

Left Hand Side fields:

Transaction Date: this is the date of the transaction. Normally it must fall within the Accounting Period defined by the Year and Period.

Year: this is the Accounting Period Year.

Period: this is the Accounting Period.

The default values for Transaction Date, Year and Period come from the Accounting Period marked as Current.

Number: this is the Accounting Period Number. The combination of the Year, Period and Number constitutes the unique transaction Number.

Sundry a/c: this is the Sundry (Creditor) Account ID.

Reference: this is a free format, optional reference entry field.

Batch: this is a read only field that displays the batch number / date of when the transaction was interfaced with another system.

Details (Header): this is a free format, optional detail associated with the whole transaction (header).

Cash Book: this is the COA for the Bank account to which the Total will be posted.

Type: this is the banking type of the transaction.

@ Bank: this is the banked date of the transaction and ties into the Bank Reconciliation.

Account: this is the a/c Bank Account Name.

BSB: this is the a/c Bank Account BSB Number.

Account #: this is the a/c Bank Account Number.

Default values for the Cash Book, Type, Account, BSB and Account # fields can be set on the a/c.

Number: this is the banking reference Number for the transaction eg. Cheque Number.

Total: this is the Cash Book (Banked) Total. It can be manually entered or generated automatically based on the sum of amounts in the Allocated Items table.

Right Hand Side fields:

Unallocated Items table: this is the upper table. It contains rows of Unallocated / Unpaid transactions.

Unallocated: this is the total of Unallocated / Unpaid transactions.

Allocated Items table: this is the lower table. It contains rows of Allocated / Paid transactions.

Paid: this is the total of Allocated / Paid transactions.

The allocation process involves shifting items from the upper table to the lower table.

The correction process involves shifting items from the lower table to the upper table.

Single Items are shifted between the tables by double clicking a source line item.

All Items are shifted between the tables by double clicking the source table top corner box.

It is permitted to change the values in the Paid column of the lower table if items are to be only partially allocated. This will result in the item being split, with an unallocated portion in the upper table and an allocated portion in the lower table.

Screenshot and Field Descriptions: Residual Over / Under Payment

The Residual Over / Under Payment screen will display when a transaction is saved and the sum of amounts in the Allocated Items table does not equal the Total of the transaction.
It allows the Residual amount to be allocated to a Property and COA for reporting until the transaction is fully allocated at a later date.

Lease: this is the Lease ID.

Annexe: this is the Annexe ID.

Suite: this is the Suite ID.

Section: this is the Section ID.

Building: this is the Building ID.

Land: this is the Land ID.

Owner: this is the Owner ID.

Enter COA for Cash Book accounting / reporting:

COA: this is the Chart of Account ID.

Details: this is a free format, optional detail associated with the residual line. It will default to the value set up for the COA.

GST: this is the residual line's GST Type. It will default to the type set up for the COA.

GST From: this is a historical field and current use is now irrelevant.

Cost Code: this is the cost centre that the residual amount relates to. This field can be set as optional, mandatory or not required on the COA set up screen.

How Do I : Search For and Maintain Entities

These General Rules are described in the Fundamentals Manual: How Do I : Search For and Maintain Entities

How Do I : Add a new Receipt Transaction

There are several ways of adding new transactions:

Manually, starting from an existing transaction and clicking the Application tool-bar push button: Template.
Manually, starting with an empty transaction.
Automatically, as a result of transaction generating applications.
Automatically, as a result of transaction import applications.

Left Hand Side Fields:

These relate to the whole of the transaction:

The Transaction Date, Year and Period will be automatically populated, but can be changed if required. The Number will be automatically generated when the transaction is saved.
Enter a Sundry a/c.
Change the default Due Date if required.
Enter a Reference.
Enter some transaction header Details.
Select a Cash Book from the available drop down options.
Select a banking Type from the available drop down options.
Change the default @Bank date if required.
Enter an Account name.
Enter a banking reference Number if required.
Enter a BSB number.
Enter an Account #.

Right Hand Side Fields:

The Unallocated Items table (upper) will contain all the outstanding or partially outstanding transactions for the a/c.

The Allocated Items table (lower) will initially be empty.

If the whole of the upper table contents are to be cleared by this transaction, double click the top corner box to drop the contents down to the lower table.
Alternatively, double click selected upper table lines to individually drop them down to the lower table.
Any of the values in the Paid column of the lower table may be changed if the items are to be only partially allocated.

Final:

Click the Left Hand Side Application tool-bar push button: Add.
If the sum of amounts in the Allocated Items table does not equal the Total of the transaction, the Residual Over / Under Payment screen will display.
Edit the Property and COA fields in the Residual Over / Under Payment screen for reporting purposes if required, then click the Application tool-bar push button: Yes.
Confirm that you wish to save the whole transaction.

How Do I : Modify an existing Receipt Transaction

Select / search for a transaction via optional combinations of Year, Period, Number and Sundry a/c.
Make changes to the Left Hand Side fields as required.
The current Unallocated Items table (upper) and original Allocated Items table (lower) will be accessible. Make any changes by double clicking the rows of these tables or amending any of the values in the Paid column of the lower table.
Click the Left Hand Side Application tool-bar push button: Change.
If the sum of amounts in the Allocated Items table does not equal the Total of the transaction, the Residual Over / Under Payment screen will display.
Edit the Property and COA fields in the Residual Over / Under Payment screen for reporting purposes if required, then click the Application tool-bar push button: Yes.
Confirm that you wish to save the whole transaction.

How Do I : Dishonour a Receipt Transaction

Select / search for a transaction via optional combinations of Year, Period, Number and Sundry a/c.
Click the Left Hand Side Application tool-bar push button: Dishonour, and confirm that you wish to dishonour the transaction.
Edit the Property and COA fields in the Residual Over / Under Payment screen for reporting purposes if required, then click the Application tool-bar push button: Yes.
If all the details look correct confirm that you wish to add the dishonour transaction.

How Do I : Delete an existing Receipt Transaction

Select / search for a transaction via optional combinations of Year, Period, Number and Sundry a/c.
While the Left Hand Side Application tool-bar push button: Delete is available, click it and confirm that you wish to delete the record.

A transaction can only be deleted if there are no other transactions associated with it, its Accounting Period is Open and it has not been Deposited or Reconciled.