Receiving money in cash account

Money deposited in your bank account should be recorded under Statement balance column.

When you click on the amount under Statement balance column, you can click Receive money button to record new transaction.

Every recorded transaction must be properly categorized. For example, if you have received 1,200 from customer for sales, you would record it like this:

If you have received from customer 1,250 but bank has charged 50 fee, you need to split the transaction using Add line button and enter both amounts making 50 negative so the net amount deposited into bank account comes to 1,200.

You are not restricted to use only simple income accounts to categorize your bank receipts. If money in the bank account has been deposited by business owner set up under Capital Accounts tab, you can select their account too.

If money has been received from a customer set up under Customers tab, select Customer credits account. This will allocate the money received automatically against their outstanding sales invoices.

Or allocate received money against specific sales invoice.

Even inventory items can be directly sold using this method.

As you can see, it’s all about specifying the correct account or accounts to categorize all money received.

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Money Deposited and Money Spent through the bank. In the desktop version I cannot find where these options are located
Thanks

Have you activated the Cash at Bank tab under Customise below Settings?
Click on the Cash at Bank tab and Create a Bank Account.
Once created click on “blue” dash under the heading Statement Balance.
Now you should see the Receive Money (Money Deposited) and Spend Money (Money Spent).

I’m using the desktop version 16.5.42. I don’t see the ‘Cash at Bank’ tab. I only have Cash Account.

The Cash on Hand & Cash at Bank tabs have been merged into one- Cash Accounts read here

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Using a recent Mac desktop version (16.5.54), i have set up my bank accounts under the Cash Accounts tab. However, if i try to record an income event (not a sale but a gift), I get offered columns such as Quantity and Unit Price, which I don’t need. What am I doing wrong?

It an added feature. Leave them blank if you don’t need them. So select account and enter amount under rate

Thanks for your reply. I still find it hard to understand or believe that a simple cash receipt requires me to enter a quantity and a unit price when none of the images in this thread (above) show a unit price. Has the program changed so much since 20 April that there is no way to enter cash income simply.

For a not-for-profit, where there are no sales, no customers, no inventory, and no invoices, it seems a shame to not have the option to do simple receipts and payments without entering a quantity and unit price. How did lubos generate these images?

@dram yes the software has changed. Now receive money and spend money will better serve users who sell and buy inventory and users using sales & purchases invoice items as well as users like you. This feature is a great advancement. Like I said earlier leave the fields you don’t want blank. Enter nothing in quantity in your case. You may also leave 1 in quantity and enter rate. It doesnt do anything. Many paid Accounting software don’t even give the option of erasing the 1.

@lubos is trying to make manager useful for all of us in all common business situations

I agree that Qty and Unit price is not applicable in every context. There will be something done about it in future. For example, some checkbox which you can tick/untick to indicate whether you want to see these columns or just enter the amount straight into `Amount column.

Ticking boxes seems like a nuisance, even if it isn’t mandatory. What if the entry screen in such situations allowed entries to Quantity, Unit Price, or Amount by default? Then, if a Quantity were entered, Amount would grey out, requiring a Unit Price. Likewise if a Unit Price were entered, Amount would grey out, requiring a Quantity. And if Amount were entered directly, Quantity and Unit Price would grey out.

That approach would prevent contradictory entries, allow simple entries when appropriate, and permit calculated entries when needed. I suppose you could even set the trigger for Quantity at 2, since 1 times anything wouldn’t change the result. (Setting it at 1, though, might be better for consistency and intuitiveness.)

That sound great to me. I feel it is not difficult to know which accounts require Quantity and Unit Price column when setting it up. Also, maybe that is the place for a default description, if desired. For very frequent entries into an account, it might be useful to have the description entered automatically and only change it if required.

I have a few questions about receiving money from a customer.

  • when I enter the customer name, the window shows me all the invoices I ever have send to that customer and not only the ones with an outstanding balance. Why does it show all invoices?
  • the window that opens shows name and invoice number, but not the amount outstanding. When there is no invoice number mentioned on the bankstatement it is very difficult to discover which invoice is paid. Could you include the outstanding invoice-amount as well? This will increase productivity.

The below doesn’t directly answer your points. but

Have you tried doing Receive Money via the Sale Invoices tab.
Click on the Sales Invoice tab and all the unpaid invoices should be grouped at the top.
Then you have two choices for the invoice you want paid:

  1. Click View then click Receive Money
  2. Click the Balance Due figure and then click Receive Money

Hi Brucanna
Thanks for your tip. I knew this one, but when I import banktransactions via “import bankstatement” (a gif-file) it does work that way. Then I encounter the problem as I described earlier.

All invoices are basically accounts of Accounts receivable. I do plan to implement some archiving function when invoice could be archived so it will no longer appear in drop-downs.

The problem is that balance due is basically running total which changes based on the date. I know you are interested in “current balance” only but I think it’s distraction when working with historical transactions.

I think simple function to bulk-archive paid invoices is better way to handle this.

Thanks for your answer, but one question is still not answered. Is it possible to show the invoice amount in the window as well. That would be of help to identify which invoice is paid.

Every account has a balance. I don’t really want to cherry-pick invoices as being more special than other accounts. Either all accounts would show current balance or no accounts.

Not to mention, I would discourage people from assigning money received directly against invoices if customer didn’t indicate in their remittance what invoices the amount should be applied to.

In that case, you should simply allocate the payment against their customer account (rather than selecting individual invoices) and let Manager allocate the payment to invoices automatically.

I have some idea how to encourage this even more than it is now.

I import bank statements regularly. The time of import is also the time I check that payments have been made correctly.
Having the invoice amount included along with the Customer name & Invoice number would save a lot of time as I would not have to go from the Uncategorized transactions screen to check the amount of the invoice before coming back to complete the categorization.
For our contract customers who send a remittance I can use Customer Credits and this is quick and easy.
It would be ideal to categorize all the incoming payments without having to leave the Uncategorized transactions / edit screen.


Could the invoice amount be in the box along with the Customer name & Invoice # ?
Or could it be in a box beside the Customer name? (Greyed out would be fine)

having trouble with tax will show no tax even when change default and have 10% tax set up on income accounts in settings