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Misc Cash Application

  • 7 February 2023
  • 6 replies
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Hi Community,

How do I apply a misc cash application? We are a non profit that receives large cash donations. We do not create an invoice as these are random.

I tried Banking>Bank Deposits> CA Deposit> Select the Charges tab entering the rev accounts. but the following error. My “charge” does not return levels.

 

Thanks,

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Best answer by Manikanta Dhulipudi 7 February 2023, 20:28

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You could create a bank entry type for these an record as a bank entry or you could process as a Cash Sale if you want to create a customer to track who gave you the money or create a CASH or DONOR customer to use when recording donations.

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kgartly83, thanks. how do you create these entries?

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I am not sure which option you prefer of the two provided.

For the first one, in Banking - Preferences open the Entry Types screen and create a new receipt entry type for this linked to the GL account and subaccount that you want the amount to be posted to.

Then go to the cash account that you are wanting to deposit this to and add the new entry type on the Entry Types tab and Save.

Lastly, go the Cash Transactions screen and record the receipt to the cash account using the entry type you created and release the transaction.

For the second option of entering this via AR, create a new customer and record the transaction in Receivables - Transactions - Cash Sales.

Userlevel 7
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kgartly83, thanks. how do you create these entries?

Hi @enriquey 

If you go to Banking> Preferences> Entry Types this is where you can create them

 

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by bank entry do you mean “Bank Deposit”.

 

Thanks

Userlevel 7
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Hi @enriquey 

Did you created entry type for cash account?

 

 Banking> Preferences> Entry Types this is where you can create them

 

The entry types are used in Acumatica in module like Banking (Cash Manager), Receivables, Payables to record the Cash Receipt(Payment received), and Cash Paid(Disbursements) to record the miscellaneous fees paid or received.

Yes, you have to explain the use of Entry Types in Acumatica and get the list of direct cash entries on the legacy system. The person performing the bank reconciliation or an accountant can help you.

Just ask the below Question to the client to setup the entry types:

  1. List of direct entries like Bank Fees , Interest received, CC Fees, direct corporate credit card expenses (without an AP Bill)..etc.,
  2. Applicable Bank Account for the above entries(if more than one bank account (cash account) is defined in Acumatica 
  3. Type - Receipt (Incoming Cash) or a Disbursement (Outgoing Cash)
  4. Account and Subaccount for the above transactions.    .

Examples of Entry types:

Bank Fees  - Directly paid or deducted by bank without any AP documents(Vendor Invoice)

Interest Charge received from bank - Interest

Credit Card fees 

Late fee or Charge

Thanks

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