A. Cash and Card Payments 


Category: These payments are typically categorized under 'Not Yet Posted to the Cash Book' because they do not yet appear on your bank statement.

Processing Location: Typically processed in-store at the Point-of-Sale (POS). However, you can also post Cash and Card payments via the Back-Office in Customer Payments.

Important:

  • Payments posted from the Customer Payments screen will NOT affect the Cash Control Account. Instead, they will be posted to the Trade Debtors Payment Clearing Account.
  • It is recommended to have the “Post to Cashbook” option turned OFF when processing these payments. 
  • When a payment is posted, the customer’s account is updated immediately. However, the corresponding journals are only posted to the General Ledger after completing the Sales Day-End process.


During the Sales Day-End, the system automatically posts the following journals (Red below):



The bank statement will now be processed through the Cash Book/Internet Cash Book screens. In these screens, the payment must be posted to the Trade Debtors Payment Clearing General Ledger account. Once the payment is posted, the system will automatically generate the following journals (Blue below): 



B. EFT and Debit Order Payments


Category: These payments are generally categorized under 'Transactions Already Received on the Bank Statement' because they are typically recorded directly from the bank statement.

Processing Location: Usually processed in the Customer Payments screen using your bank statement.

Important:

  • Posting an EFT or Debit Order payment will affect the Trade Debtors Payment Clearing Account.
  • It is recommended to keep the “Post to Cashbook” option turned ON when processing EFT and Debit Order payments.
  • When a payment is posted, the customer’s account is updated immediately. However, the corresponding journals are only posted to the General Ledger after completing the Sales Day-End process.


Before the Sales Day-End is processed, the system automatically posts the following journals (Purple below):


During the Sales Day-End, the system automatically posts the following journals (Green below):