The Cash Book Journals version of nominal journal postings is used to post
nominal journals that update a source of finance, e.g. bank account, petty
cash, credit card etc, and include VAT. For example direct debit payments,
petty cash receipts, credit card transactions etc. It is quicker to use this
program than Nominal Journal Postings since the system automatically
posts
the bank and VAT elements of the transaction, you only need to select the
expenses/overheads account. It also ensures that all receipts are included in
your VAT Return.
1. Select Gx Nominal in the toolbar.
2. Hold the cursor over Cash Book on the menu.
3. Choose Cash Book Journals from the second menu.
4. Choose the Batch Type, either Purchase or Sales. Purchase
will
reduce the bank (credit) and Sales will increase the bank (debit).
5. Batch Control Total - enter the total of all the receipts to be entered.
6. Cash Book Nominal Code - select the nominal code for your bank
account, petty cash account or credit card that the receipts are being
posted to.
7. VAT Nominal Code - select the nominal code that the VAT on these
cash book entries is to be posted to.
8. Enter a Journal Reference for this set of cash book journals, e.g.
"January Petty Cash Receipts".
9. Click Ok.
10. Select the Nominal Code for the overhead or expense the receipt
relates to from the drop-down menu.
11. Enter the posting Date.
12. Enter a Reference for this transaction.
13. Enter the Goods value on the receipt.
14. Select the correct VAT Rate for the goods.
15. Confirm the VAT amount on the receipt.
16. Enter the next receipt or item.
17. When you have entered all the items in your batch, click the Save button.
Your cumulative total should match the batch total and you should check
for errors if it does not. The transactions are posted to the nominal
ledger and you can use Nominal Transaction Enquiry to view them.