BOOKKEEPING : ENTERING TRANSACTIONS

Accounting software works either on a batch entry system, real time system or both. TurboCASH accounting works on a batch entry system. This is the way ‘real’ accountants work and saves time in the long run. All transactions are entered in batches into any of the following journals:

Sales – sales of stock or provision of services to customers
Receipts – cash receipts and receipts from debtors
Payments – cash purchases
Purchases – goods purchased on credit
Petty cash – payments made using petty cash
General – for transactions not falling into any of the other journals e.g. depreciation

Use F10:Setup on the Batch Entry screen to ensure your batch is correctly set up before entering any transactions. Then to record your transactions, use the following menu options:

• Cash Payments
  Batch entry – Payments journal
• Receipts from debtors/Cash receipts
  Batch entry – Receipts journal
• Sales (for businesses NOT controlling stock)
  Batch entry – Sales journal
• Sales (for businesses that HOLD trading stock)
  Input – Document – Quote to send a quote to a prospective customer
  Input – Document – Confirm to confirm the quote as a sale
  Input – Document – Invoice – Enter to record the sale in the journal
  Input – Update Ledger to update the ledger
• Purchases (for businesses NOT controlling stock)
  Input – Batch Entry – Purchases journal
• Purchases from suppliers (for businesses that HOLD stock)
  Input – Document – Order to send an order to your supplier
  Input – Document – Confirm to confirm the order
  Input – Document – Purchases to record the purchase in the company’s books