Allocating cash withdrawal to invoices

Question asked by Jonathan Smith 9 years ago

Hello,

I am allocating some car park receipts paid for in cash, which have been imported from Receipt Bank as purchases, against a single cash withdrawal from the bank account. As it stands I still have some cash in hand and expect to use it against future car park expenses. How do I account for this in the system? At the moment I have a residual balance which I would in theory allocate to cash in hand (though I'm not sure how to do that on the system) but in due course I will transfer from cash in hand to expenses when I use up the spare cash.

In short is there a way to part allocate the cash and come back to finish it off once it's all used up?

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3 Replies

Do you have a single supplier set up for parking?

If so, head to Settings > Codes > All and ensure the 'show in purchases' box is ticked next to trade debtors (then press save down the bottom).

Then simply analyse the excess balance to the same parking supplier but instead of allocating against an invoice you'll use the trade debtors nominal. It would look something like this:

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The excess £15.48 in this example can then be found in Money > Unallocated cash:

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Once you've entered further bills against the same supplier you simply head back to the unallocated cash section, click allocate and you'll be given the option of allocating it against said bill:

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Best answer
9 years ago

Personally though I treat cash withdrawals as either transfers to petty cash or usually the DLA, then treat cash receipts as being paid from the same account. It's all to easy to end up with petty cash balances that aren't really there anymore or money in unallocated cash that you forget about.

9 years ago

Thanks for that fulsome answer Kevin. Very helpful I think I'll keep a petty cash balance going and see how that works.

9 years ago

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