Please refer to: Cash Book Maintenance
Basic
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Idea of
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How / When Do You Use the Cashbooks
- When you received payment from customer, either from POS, by creating an Official Receipt or settle invoices, the money will be recorded in the appropriate cashbook.
- When you make payment to supplier, you will need to choose from which cashbook the money will be deducted from.
Cash Book vs GL Codes
In EMP, Cash Book is different from GL Code.
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Please note that multiple Cash Books can share the same GL Code. This is because in the General Ledger, most of the time the account departments just want a summary of the money transactions occur in these cash books, however. However, we create different cash books Cash Books to allow the business to keep track of the money separately as required by the operations.
What
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Are the
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Common Cash Books?
- Petty Cash / Cash Drawer (CD)
- Cheque Drawer (CHQ)
- PD Cheque
- Banks (for example, MBB, RHB, HSBC) / Others
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- CC - Credit Card Receivablee
What Is the Advantage of Creating a Cash Book for
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Each of the Branches?
You are advised to create separate Petty Cash / Cash Drawer cashbooks for each of the Branches, this is so that you will be able to keep track of the exact monetary transactions for each of the Branches from the Finance Module.
Having said that, you can actually configure the Petty Cash cashbooks for all branches to share the same GL Code (example GL Code : cashDrawsCashDraws), so that the Account Department will have a consolidated view.What about other
How About Other Cash Books,
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Do I
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Create Separate Cash Books for
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Each of the Branches
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Also?
Banks:
For Cash Books that represent your actual Bank Accounts, you will only create 1 Cash Book for each of the Bank Account. This is so that you will have a consolidated transactions for Bank Reconciliation later.
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