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Using TurboCASH

 







BATCH (JOURNAL) TRANSACTIONS
GENERAL JOURNAL
  
The General Journal Batch Type is used to enter the general transactions and corrections or adjustments you would not normally enter in the Sales Journal, Purchase Journal, Receipts Journal, Payments Journal or any other Batch Type or Journal Type you have created to enter transactions for your normal business activities. The General Journal is used to enter and update or post non-regular transactions to the General Journal, such as:
  1. To Take-on your Opening Balances for General Ledger accounts, Debtor accounts and Creditor accounts.

  2. To correct errors in posting (accounts have been debited or credited incorrectly or with incorrect amounts, etc.)

  3. To enter transactions for depreciation of fixed assets.

     

  4. To write-off bad debts and make provision for doubtful debts.

  5. To do year-end adjustments for the accrual-based accounting.

  6. To enter salaries and wages from payroll reports from other payroll systems, etc.
To enter General Journal Transactions:
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 General Journal from the list displaying the available Batch Types and click on the button. The Batch Entry screen for the General Journal will be displayed.
 If no contra account or if you need to select other account than the account that is displayed on the Batch Type selection screen, you need to set the options for the batch. If you have not yet set the General Journal batch up, or if your requirements should change, click on the speed button or icon.
You would record the journal number, date of the transaction, details of the transaction, the accounts which are debited or credited, output VAT or input VAT (if VAT are applicable on the transaction) and the amount of the transaction - including or excluding VAT, depending on your requirements.

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 in this column. Enter or select the date of the transaction in this column. Enter a description for the transaction. Select the General Ledger, Debtor and / or Creditor Account. Enter debit amounts for accounts in this column. Enter credit amounts for accounts in this column. Scroll bar - scroll to view more transactions entered in the batch. The code or number and the description or name of the selected account will be displayed. Total amount of the transactions entered into the batch. This is the net total (debits minus credit total. If a 0 (zero) is reflected, the batch is in balance. Accounts search facility if the cursor is in the Account field. If the cursor is in the Tax field, the Tax Codes search facility will be displayed. The amount of the selected transaction, the reference total and accounting period as well as the contra account of the batch or journal.
It is not necessary to balance the batch if you have entered debit transactions for the same amount as for credit transactions, the net total of all transactions (debits minus credits) and the reference total for the entire batch or journal should be zero. If not, click on the speed button or icon or press the key on your keyboard to balance the batch or journal. TurboCASH will then automatically generate the balancing entries or transactions to the contra accounts as set in the options for the batch (and any Tax accounts if VAT is applicable to the transactions).
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 selected accounts and tax accounts if VAT is applicable to any of the transactions.

Before you wish to post the batch, please ensure that you have checked the transactions and that you have changed the alias, print a list of the entries in the batch.

It is not necessary to post or update the transactions at the end of each day. You may add your transactions on a daily or weekly basis and at the end of a month, you may post the transactions. When you have entered a few transactions, you may close or exit the batch. The data will not be lost.

The following Batch Types, are used to enter specific transactions of similar nature:

Journal or Batch Source Documents
Sales Journal Sales invoices, credit notes
Purchase Journal Supplier invoices, Supplier credit notes
Receipts Journal Deposit Slips and other credits on bank statements.
Payments Journal Cheque counterfoils or requisitions and other debits or charges on bank statements

If you trade stock items, TurboCASH will generate the source documents for customers or debtors (Invoices, Credit Notes) and write up the Sales Journal.

If you trade stock items, TurboCASH will generate the source documents for suppliers or creditors (Purchase, Stock or Goods Returned documents) and write up the Purchase Journal.