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Using TurboCASH

 







GENERATE MULTIPLE ENTRIES
CREDITORS WITH CHARGE AMOUNT
  
TurboCASH provides this useful feature to generate transactions for those creditor accounts, which have a charge amount entered in the Edit - Accounts - Creditor (Accounting Information tab) menu option. When this charge amount is generated and once the batch has been posted, the creditors accounts will be increased (credited) and the selected contra account (e.g. expense or cost account) will also be increased (debited).

To Generate Multiple Entries for Creditors with Charge Amount:
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.

Select the Batch Type (except Payment and Receipt Batches, which is linked to Bank Accounts) and click on the button. The batch entry screen for the selected Batch Type will be displayed.

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.
Click on the speed button or icon or press the key on your keyboard. The Process the batch options screen will be displayed.
Select the Generate Multiple Entries option and click on the button. The Generate Multiple Entries screen will be displayed. Select the Creditors with charge amount option and the screen will change to reflect the options for this option.

 

Title bar. Close button - click to close or exit this screen. Select to generate transactions for those Debtor accounts with balances less than the specified amount. Select to generate transactions for those Debtor accounts with a Charge amount. Select to generate transactions for those Creditor accounts with a Charge amount. Select to generate transactions for a specified amount to selected Debtor accounts. Select to calculate interest on overdue Debtor accounts and to generate transactions. Enter or select the date for the transaction. Select the Contra account on the Accounts search facility. Enter a description for the transactions. Click to generate the transactions. Click to cancel and to close or exit this screen.
Select and enter the following:

Option Description
Date for Transactions Enter or select the date for which the transactions should be generated.
Contra Account Select the account to be debited with the generated transactions. This account may be an expense or cost account or any other account you specify.
Description Change "My Description" with any description to suit your requirements. Note that this description must be useful to your creditors, since it will be displayed on Creditor Remittance Advises.

Click on the button. The Generate Multiple Entries screen will automatically be closed and the transactions for the Creditors which have charge amounts entered in the Accounting Information tab of the Edit - Accounts - Creditor menu option will be imported into the selected batch. Check the transactions and if necessary, change the descriptions, etc.

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. The reference number will automatically be inserted. The date of the transaction will be inserted in this column. The description as entered on the Multiple Entries screen will be inserted in this column . The Creditor Account will automatically be inserted. No amounts should be entered in this column. The credit amounts will automatically be inserted . Scroll bar - scroll to view more transactions entered in the batch. TurboCASH will automatically genreate the balancing transaction to the selected contra account. If necessary, overtype the description with your own description.
Click on the speed button or icon or press the key on your keyboard to balance 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. TurboCASH will post the entries to credit the individual creditor accounts, debit the total to the selected contra account (i.e. finance charges).

After posting the transaction, the Batch Type Details report should reflect as follows:




The Contra Account (e.g. Finance Charges) is debited with the amount charged to the Creditor's Account.

The Creditors Account is credited with the charge amount, which we need to pay to the Creditor.