Working with Cashbook
All incoming and outgoing cash transactions must be registered in chronological order in the cashbook. Cash transactions are:
- Internal transactions - for example incoming payments from employees or from bank account. An outgoing payment to employees is also an example of internal transactions.
- External transactions - customers who pay in cash or cash payments to suppliers.
The cash report displays all incoming and outgoing cash transactions for a specific period, for example per day, week, or month. The report also displays information about the balance on the cash account. Each cash transaction will be given a unique number. Two different number series are used - one for incoming payments and one for outgoing payments. You can also use prefix for the number series. In Poland, the prefix KP is used for incoming payments and KW for outgoing payments.
Here you will see a schematic illustration of the cashbook management.
All transactions are coded in a cash report. Each report has a number. Bases for the cash report are ledgers in the general ledger that are coded on the cash account. All cash transactions must be coded in the cashbook.
Other Settings for Cashbook Management
Before you can start using the cashbook management, you must configure settings in the following procedures: