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Using TurboCASH


Sometimes the owner of a business agrees that a percentage of certain expenses may be charged to him. This is usually when the owner uses the telephone or motor vehicle for business and private use. During the course of the financial year or accounting period, the expenses will be debited to the expense accounts in the normal manner. At the end of the financial year, the particular expenses will be calculated according to the agreed formula and the owners, portion will be debited to the drawings account and the expense account will be credited.

Identify the Account, Calculate, Enter the Private Expenses and Post it to the Ledger:
For example, the pre-adjustment trial balance reflects petrol expenses of R() 5 000. It has been agreed with the owner that 20% of petrol expenses is private and 80% is for business. At the end of the year, (on 28/29 February), the 20% private expenses of the 20% of the petrol expenses needs to be calculated and must be disallow it to the Drawings account.
Enter the transaction in the General Journal. Press the key on your keyboard or click on the speed button or icon. The Batch Type selection screen will be displayed.
Select the General journal Batch Type and click on the button. The General journal Batch Entry screen will be displayed. If the correct contra account for the batch was not displayed on the Batch Type selection screen, press the key on your keyboard or click on the speed button or icon to set the options for this batch. Note that it is recommended that the Amount Entry field be set to allow both (debit and credit).

Enter the transaction in the batch. After entering the transactions in the general journal, the transactions is as follows:
Minimise button - inactive. Restore button - click to display this screen to full size and click again to restore it to its original size. Title bar - double-click to display the screen in full size or to return to the normal size. Title bar. The name of the selected batch. Title bar. The Alias for the selected batch. Close button - Click to close or exit this screen. Click to delete a selected transaction. Click to insert a row or line above a selected transaction. Click to balance the batch, if the batch is not already in balance. Click to post or update the transactions to the ledger, if the batch is in balance. Click to enter transactions Inclusive or Exclusive of VAT. Click to list the entries or transactions entered into the batch. Click to access more processing options for the batch. Click to set the Options for this batch. Enter the reference number for the transaction. Enter or select the date of the transaction. Enter a description for the transaction. Select the Drawings (Proprietary / Capital) account for the debit transaction and select the Expense account for the credit transaction. Enter the debit amount for the Drawings (Proprietary / Capital) account. Enter credit amount for the Expense account. Scroll bar - scroll to view more transactions entered in the batch.
Click on the speed button or icon or press the key on your keyboard. Select the change the alias option.
Click on the speed button or icon or press the key on your keyboard to post the transactions to the ledger. After posting the transactions to the ledger, the entries should reflect as follows in the ledger.


The actual amount of the particular expense account on the pre-adjustment trail balance, less the amount of the calculated private expenses. The expenses are decreased (credited) and drawings account is increased (debited).