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Cash Disbursements command (Transactions menu)
Use this command to display a form that allows you to record cash disbursements.
The Cash Disbursements Form is organized as three sections: Record Bank Withdrawal, Classify Bank Withdrawal, and Entries List.
The process of recording a cash disbursement tranasaction is as follows:
- In the Record Bank Withdrawal section, enter the transaction Date, select a Disbursing Account, and enter the total amount of cash reduction as the Disbursement Amount.
- In the Classify Bank Withdrawal section, select the type of transaction you are recording in the Classify As dropdown list, then complete the enabled form fields and controls that remain. The Amount(Debit) may be more or less than the Disbursement Amount.
- Click the Accept button. The details of Amount(Debit) are then moved to and displayed in the Entries List section.
- If Disbursement Amount consists of more than one Amount(Debit) , repeat steps 1 through 3 until SUM= in the Status Bar equals zero.
- When SUM= is zero, you may click Done to record the transaction and proceed.
Data Members:
Date
Provides a place for you to specify the transaction date.
Disbursing Account (Credit)
Allows you to select a cash account as the current disbursing account for subsequent transactions. The selected account becomes the credit side of the accounting entry.
Income Cash Available
Displays the balance of income cash available in the selected disbursing account before the current transaction.
Principal Cash Available
Displays the balance of principal cash available in the selected disbursing account before the current transaction.
Total Cash Available
Displays the sum of income and principal cash available in the selected disbursing account before the current transaction.
Disbursement Amount (Credit)
Provides a place for you to specify the amount of a check or total disbursed.
The field may contain twenty digits including one decimal point. Commas are not acceptable.
A maximum of two digits to the right of the decimal point is allowed. Digits to the right of the decimal point beyond two are removed. Rounding is not performed.
Entries with less than two digits to the right of the decimal point are expanded to two.
Classify As
Displays a list of possible transaction types to aid you in the transaction recording process. Select the nature of the current cash disbursement from among the following choices:
Expense paid Income - Reported as income disbursements, grouped with similar items.
Expense paid Principal - Reported as principal disbursements, grouped with similar items.
Asset purchased Income - Record a new income asset or increase an existing income asset. Record bank transfers.
Asset purchased Principal - Record a new principal asset or increase an existing principal asset. Record bank transfers.
Distribution of cash Income - Distribution of income cash to beneficiaries (does not apply to guardianships).
Distribution of cash Principal - Distribution of principal cash to beneficiaries (does not apply to guardianships).
Payment of a liability Income - Reduction of existing income liability.
Payment of a liability Principal - Reduction of existing principal liability.
To Be Paid Income - Income expenses unpaid at time of final reporting. Reported as disbursements (finals only).
To Be Paid Principal - Principal expenses unpaid at time of final reporting. Reported as disbursements (finals only).
Other Income - All other income payments.
Other Principal - All other principal payments.
Debit Account (Credit) Category and Name
Allows you to select an account.
Units Balance
Displays the balance of number of units of the currently selected account before the current transaction.
Account Balance
Displays the carrying value balance of the currently selected account before the current transaction.
Number of Units
Provides a place for you to specify the number of transaction units.
Unit Value
Provides a place for you to specify a transaction unit value.
Amount (Debit)
Provides a place for you to specify the amount of the current Debit of the current transaction.
The field may contain twenty digits including one decimal point. Commas are not acceptable.
A maximum of two digits to the right of the decimal point is allowed. Digits to the right of the decimal point beyond two are removed. Rounding is not performed.
Fields with less than two digits to the right of the decimal point are expanded to two.
Producing Asset Category and Name
This data area is enabled when you select Expense Paid - Income/Income Receipts/Business Income. This option allows you to match business expenses with business receipts and show business expenses netted against receipts on cash receipts reports. To show business expenses on cash disbursements reports, ignore these fields.
Description
Provides a place for you to type a description for the current transaction. Text can be copied from a selection in the Prior Text drop-down box that displays in the toolbar.
Entries List
Accumulates and displays the previously recorded elements of the current transaction.
Also see: Cash Receipts; Non-Cash Transactions; General Journal
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