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The Cash Book controls transactions associated with your bank and cash accounts. Use the Cash Book to maintain details of your bank accounts. You can control transaction processing and reconciliation.
Use the Cash Book to:
Set up bank accounts, specify a default bank account, enter cash book opening balances and configure e-banking options.
Can be recorded here or in the Sales Ledger.
You can also allocate the receipt from the Cash Book.
Can be recorded here or in the Purchase Ledger. You can also allocate the payment from the Cash Book.
Can be recorded here or in the Nominal Ledger. You can enter transactions with or without VAT. These are posted to a bank account and a specified nominal ledger account.
These can be in the same or different operating currencies. If the accounts operate in different currency, the system converts the transactions based on the appropriate exchange rate.
Update the Nominal Ledger.
This makes sure that the relevant nominal accounts such as the exchange discrepancy, bank charges and commission accounts are updated with postings made in the cash Book.
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