Setup Example – Bank Receipts (General)
- Bank Receipts record income that is not part of a customer transaction.
- Examples are interest received and the proceeds from the sale of scrapped assets or stock.
- A bank or cash account is debited, and an income account (e.g. Interest Received) is credited.
- The VAT depends on the entry.
💡This page provides an example of a Transaction Type setup for Bank Receipts (General).
In South Africa, there is no VAT on interest. Therefore, the setup has no default VAT settings, and you select the VAT per entry. Check what the applicable VAT setting is for your country.
Header
- Description: Bank Receipts – General
- Code: BNK REC
- Entities: All
Settings (tab)
- This section lists the compulsory and optional settings that can be used to customise Bank Receipts.
- Settings with Default as part of the name can be changed when capturing a transaction.
| Setting | Description | Value | When Required |
|---|---|---|---|
| Accounting > Credit Type | Select from a dropdown list of account types. The options are:
| Ledger | Always |
| Accounting > Currencies | Select which currencies apply to the Transaction Type. The options are:
| All | If you have bank accounts in different currencies. |
| Accounting > Debit Account Filter (Enter string contained in Accounts > Lookup) | Limits the accounts that can be selected to those that include the letters entered. The filter is case-insensitive. | Bank | If you want to limit the accounts that can be selected. Requires all your bank accounts to include the word Bank in the lookup field. |
| Accounting > Debit Type | Select from a dropdown list of account types. The options are:
| Ledger | Always |
| Accounting > Default – Debit Account | Select a default account from the dropdown list. | Bank – FNB 22886552214 | If receipts are generally paid into a specific bank account. |
| Accounting > Enable Accounting | A checkbox. If checked, accounting is enabled. If unchecked, transactions are created in the module and not posted to the ledger. | Check the box. | Always |
| Accounting > Pricing | Select a pricing option from the dropdown list:
| Accounting | Always |
| Accounting > Update Bank | Specifies how to treat entries imported from a bank statement:
| Debit | If you import bank statements using a Bank Import. |
| Defaults > Default – Data Filter | The default filter when you view a list of transactions for the Transaction Type. The options are:
| Select an option from the dropdown list. | The default filter is:
|
| General > Enable Entities | Select an option from this list:
| Branch | If you want to allocate transactions to branches. |
| General > Reference Lookup | Enter Reference lookup lists. | Click the Value column and enter the lookup entries, one per line. Check the Auto Height box to show the full lookup list. | If you want staff to select a reference instead of entering one. |
Statuses (tab)
- You may create an unlimited number of statuses.
- However, there are only four Status Groups:
- Pending
- Active
- Complete
- Cancelled
- The first status should allow editing.
- The final status should ideally not allow editing.
- If the setting Accounting > Enable Accounting is checked, at least one status should have the Accounting column checked.
- If inventory is used, at least one status should have the Inventory column checked.
- If editing is allowed when the inventory or accounting columns are checked, any accounting or inventory reports should be considered provisional.
Categories (tab)
- Use categories to sort records.
- The categories you choose should be meaningful to your business.
- Using categories is optional but recommended.
- Categories can be copied from another Transaction Type. The existing categories are replaced by the copied categories.
This example has no categories. If you want to sort your Bank Receipts (e.g. by type of income, such as interest received or sundry income), create your own categories. See Transaction Categories Tutorials.
Copy Rules (tab)
- Copy Rules determine when transactions may be copied.
- Although two transactions are involved in the copy, you only need to create one Copy Rule.
- User access must be set for each Copy Rule.
- You can automate copying transactions by selecting a Trigger status.
Output Templates (tab)
- Output Templates are the forms you need to print, preview or email a transaction (e.g. invoices).
- Default templates are included. They automatically show your company name, logo and bank details, as filled in on the Output tab of a registered entity.
- You may edit these templates to include or exclude information.
- You may also create your own forms and templates from scratch.
No default templates. If you want to print or email these transactions, you can create your own templates (see Output Template Tutorials) or contact QuickEasy Support to create templates for you.