Hi how can i enter cash deposits to bank it is not showing the account title and automatic it come in suspense
Hi wat is the correct entry for cash deposits i try to select in the accounts title but only accounts receivable is it possible to separate account title cash at bank and cash in hand because automatic it will come in cash and cash equivalents
To do deposit between Cash at Bank and Cash in Hand use Transfer Money
Cash & cash equivalents is a control account that includes other cash accounts. Click on its balance on the Summary page and you will see the separate accounts that make it up. Or click on the Cash Accounts tab to see a breakdown of each account.
Suspense is an automatic account where Manager stores incomplete or unbalanced transactions until they are fixed.
You might benefit from reading several Guides, including these:
Hi i want to put cash deposits in the bank i will click receive money then i will choose which name in the cash accounts then down is the account title wat i will choose because only accounts receivable is showing the cash and cash equivalents not showing so it will come in suspense
When recording the receipt of money against a sales invoice, choose Accounts receivable. Another field will appear in which you must select the customer. Then a third field will appear in which you select the sales invoice. Without the customer, Manager cannot allocate the receipt to the proper subaccount, so it goes into Suspense.
Cash & cash equivalents is a control account. You cannot deposit money into a control account. By selecting the cash account when you started entering the receipt, you have bypassed the control account and gone directly to the subaccount for your bank account. If you read the last Guide I linked to, this is very clearly explained and illustrated under the heading “Receipts against sales invoices.”
Hi that is the ptoblem i need to record the receipt of money but not against the sales invoice or not from the customer but from the owner itself
The correct account will depend on your organization type and structure of your chart of accounts. The deposit must be credited to some equity account (capital account, owner’s equity, etc.)
Yes thats what im thinking…thank you for the reply.