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Using TurboCASH

 







BATCH (JOURNAL) PROCESSING
INTROCUCTION TO BATCH (JOURNAL) PROCESSING
  
Before you can enter your transactions in a batch, you need to sort your source documents according to the type or nature of the transactions. You then need to select the correct batch type or journal to capture the transactions of a similar nature. You may only select a batch type from the available batch types (journals) in which you may enter your transactions from source documents. Should you wish to enter transactions of a similar nature into any other batch type, which is not available, you first need to create or add the batch type.

Any business issues source documents and hands the original documents to its customers or debtors or other parties with whom a transaction is concluded. These source documents are generated internally and the copies of such source documents are used to enter the transactions in the journals or batch types.

On the other hand a business receives original source documents from its suppliers or creditors or any other party with whom a transaction is concluded. These source documents are generated externally and the business would usually receive the original source documents, which are used to enter the transactions in the journals or batch types. Batch types or journals are used to enter the details of the transactions and to summarise the details into.

 

In any business the transaction data on source documents are entered in the following subsidiary journals or books of first entry:

Source document Internal / External Subsidiary journal / Books of first entry
Sales invoices (copies) Internal Sales Journal
Credit notes (copies) Internal Sales returns journal
Supplier Invoices (originals) External Purchases Journal
Credit notes (originals) External Purchase returns journal
Deposit slips or receipts (copies) Internal Receipts Journal
Cheque counterfoils Internal Payments Journal
Petty Cash vouchers Internal Petty cash book
Miscellaneous Internal General Journal

For each of these subsidiary journals or books of prime entry, you would debit specific accounts and credit specific accounts applicable to the specific subsidiary journal. This will definitely help to eliminate or significantly reduce the errors that may occur when recording and summarising the transactions or when the transactions are posted to the ledger.

The entries for each of these subsidiary journals or books of prime entry is as follows:

Subsidiary journal Account(s) Debited Account(s) Credited
Sales Journal Debtor's Control Sales
Sales returns journal Sales Debtor’s Control
Purchase journal Stock Control or sundry account. Creditor’s Control
Purchase returns journal Creditor’s Control Stock Control or sundry account.
Receipts journal Bank Debtor’s Control or sundry account.
Payments journal Creditor’s Control or sundry account. Bank
Petty cash book Expense account Petty cash

The general journal is used for other transactions, which cannot be classified into any of the transactions that are entered into the subsidiary journals listed above.

Other journals, which may be required, are: You would normally record your depreciation transactions and payroll transactions with a general journal. If you open separate journals for these transactions, you could easily reconcile your depreciation and payroll transactions with your ledger accounts or asset registers. You need to assess the volume and complexity of your transactions to decide for yourself, which transactions you wish to enter into separate journals or batch types.

To Select a Batch Type:
Click on the speed button or icon. You may also press the key on your keyboard. Alternatively you may press the and and keys on your keyboard. The Batch Type screen will be displayed listing all the available batch types.

Title bar. Close or exit button. Select the sales journal batch entry screen. Select the receipts journal batch entry screen. Select the payments journal batch entry screen. Select the general journal batch entry screen. Select the purchase journal batch entry screen. Select the petty cash journal batch entry screen. Select the salary or payroll journal batch entry screen. Open - will launch the selected batch entry screen. Cancel - close the batch type selection screen. Scroll bar. Scroll to view more batches or journals. Select the sales returns journal batch entry screen. Select the purchase returns journal batch entry screen. The contra account for the sales journal is displayed, if the options for this batch is set. The contra account for the purchase journal is displayed, if the options for this batch is set. The contra account for the receipts journal is displayed, if the options for this batch is set. The contra account for the payments journal is displayed, if the options for this batch is set. The contra account for the general journal is displayed, if the options for this batch is set. The contra account for the sales returns journal is displayed, if the options for this batch is set. The contra account for the purchase returns journal is displayed, if the options for this batch is set. The contra account for the petty cash journal is displayed, if the options for this batch is set. The contra account for the salaries or payroll journal is displayed, if the options for this batch is set. Select the depreciation journal batch entry screen. If you have not set depreciation journals, select the general journal batch entry screen. The contra account for the depreciation journal is displayed, if the options for this batch is set. Do not select the Cost of Sales Journal. The transactions will automatically be written up by TurboCASH when Invoices and Credit Notes for stock items are updated or posted to the Ledger. Totals for the amounts of the debit and credit columns of the batch (journal). If zero no transactions have been entered. If the debit or credit column reflects a figure and no amounts is reflected in the corresponding column, it indicates that the batch is not yet balanced.
Select the Batch Type in which you wish to enter your transactions.

Click on the button.
Or - Right-click on the selected batch (journal) on the Batch Type Selection screen and select the Edit option on the Context menu
The selected Batch Type screen will be displayed.

Title bar. Alias - to change the alias, select the F9:Process option. Title bar - double-click to display the screen in full size or to return to the normal size. Close button - Click to close or exit this screen Click to delete a selected transaction. Click to insert a row or transaction above a selected row. Click to balance the transactions entered in the batch. Click to post a batch to the ledger. You first need to balance a batch before posting the batch. Click to enter transaction inclusive or exclusive of VAT. Click to list the entries in a batch. Click to select more processing options for the selected batch. Click to set the defaults for the selected batch type. Enter a reference or document number (e.g. cheque no., invoice no, etc.) Enter a valid transaction date or select the date using the Date Picker. Enter a valid description for the transaction, unless the description is set to be repeated. Select a valid account from the search facility in the bottom left-hand corner of this screen. Select a valid Tax account from the search facility in the bottom left-hand corner of this screen. Select No Tax if tax does not apply to an item or if you are not registered for VAT. Enter the transaction amount as a debit. If the batch is set for credit amount entry, you will not be able to enter any amounts in this field. Enter the transaction amount as a credit. If the batch is set for debit amount entry, you will not be able to enter any amounts in this field. Scroll bar - scroll up or down to view more transactions. Select a valid account. The transaction details. Total amount of the transactions entered into the credit column of the batch. Minimise button - inactive. Restore button - click to display this screen to full size and click again to restore it to its original size. Total amount of the transactions entered into the debit column of the batch. The account code and description of the selected account.
Click on the speed button or press the key on your keyboard to set the defaults for the batch.
 Start to enter your transactions in the batch.
 Click on the speed button or icon or press the key on your keyboard to change the alias. This will help you if you wish to identify a specific batch, if you wish to generate a batch type report or if you wish to export posted batches to a file.
Click on the speed button or icon or press the key on your keyboard to list the batch. It is a good idea to list the batch and check the entries on the batch thoroughly. If there are any errors, you may edit the batch before posting the batch.
Click on the speed button or icon or press the key on your keyboard to post the batch. This will update all ledger accounts including the individual accounts for debtors and creditors and the VAT amount to the selected Output or Input VAT accounts.

Should you have entered any repeating transactions in the Edit - Repeating Entries menu option for the selected batch type, you may import the repeating transactions in the selected batch type.