SYSPRO Ltd reserves the right to alter the contents of this document without prior notice. This document is a copyright work and is protected by local copyright, civil and criminal law and international treaty. Cash flow is a crucial aspect in any business.
SYSPRO Ltd reserves the right to alter the contents of this document without prior notice. This document is a copyright work and is protected by local copyright, civil and criminal law and international treaty. Cash flow is a crucial aspect in any business.
SYSPRO Ltd reserves the right to alter the contents of this document without prior notice. This document is a copyright work and is protected by local copyright, civil and criminal law and international treaty. Cash flow is a crucial aspect in any business.
SYSPRO Ltd reserves the right to alter the contents of this document without prior notice. This document is a copyright work and is protected by local copyright, civil and criminal law and international treaty. Cash flow is a crucial aspect in any business.
Copyright:
Attribution Non-Commercial (BY-NC)
Available Formats
Download as PDF, TXT or read online from Scribd
Download as pdf or txt
You are on page 1of 10
Cash Book
Copyright 2008 SYSPRO Ltd
Published: 20 August 2008 All rights reserved. No part of this document may be copied, photocopied, or reproduced in any form or by any means without permission in writing from Syspro Ltd. SYSPRO is a trademark of Syspro Ltd. All other trademarks, service marks, products or services are trademarks or registered trademarks of their respective holders. Syspro Ltd reserves the right to alter the contents of this document without prior notice. While every effort is made to ensure that the contents of this document are correct, no liability whatsoever will be accepted for any errors or omissions. This document is a copyright work and is protected by local copyright, civil and criminal law and international treaty. This document further contains secret, confidential and proprietary information belonging to Syspro Ltd. t is disclosed solely for the purposes of it being used in the context of the licensed use of the Syspro Ltd computer software products to which it relates. Such copyright works and information may not be published, disseminated, broadcast, copied or used for any other purpose. This document and all portions thereof included, but without limitation, copyright, trade secret and other intellectual property rights subsisting therein and relating thereto, are and shall at all times remain the sole property of Syspro Ltd. Business perspective 'Cash, being the most liquid form of money, is of prime importance to the enterprise. Cash must be carefully administered and controlled, and the cash flow recorded in the cash journal. The balance on the cash account must regularly be reconciled with the bank balance'. (Accounting An ntroduction, Faul, Pistorius, Van Vuuren). Most businesses are in business to sell goods and/or services in order to make a profit. n order to do this, organizations need to have customers and suppliers. To facilitate the management of cash inflow and outflow, an organization requires a Cash Book in which to record all cash transactions. As cash flow is a crucial aspect in any business, it is important to accurately record all receipts and payments and keep a record of the transactions that have been processed by the bank (bank reconciliation). You would use a Cash Book to collect all the cash transactions (payments and receipts) and ensure the effective documentation of all cash transactions. Cash Book 2008 SYSPRO Ltd. All rights reserved. www.syspro.com Page 1 of 8 Process fIow The Cash Book module provides an efficient way of recording all withdrawals and payments that are made by organizations. All payments made to suppliers (including electronic payments) and receipts from customers are automatically posted to the Cash Book. Repetitive payments (e.g. automatic payments for insurance premiums) can be set up to post automatically to the Cash Book on the day that they are due to go through the bank. f required, the bank statement can be downloaded into the system and the converted file can be used to automatically reconcile items on the Bank Statement. Business issue Avoid double capturing into Accounts Payable, Accounts Receivable, Work in Progress, General Ledger and Cash Book Manual checks are required to pay for items not purchased through the Accounts Payable module Monthly automatic payments to be recorded (for actual payments and cash forecasting) Bank Reconciliation SYSPRO soIution Fully integrated solution, with automated updating of all transactions to General Ledger and Work in Progress and from Accounts Payable and Accounts Receivable On-line checks can be printed for withdrawals posted directly into the Cash Book Permanent entries (both deposits and withdrawals) can be entered. This will facilitate accuracy of these entries and ensure that they are included in cash forecasting reports This function can be either done manually or the bank statement can be downloaded to facilitate automatic bank reconciliation Cash Book 2008 SYSPRO Ltd. All rights reserved. www.syspro.com Page 2 of 8 Cash Book 2008 SYSPRO Ltd. All rights reserved. www.syspro.com Page 3 of 8 Positioning Cash Book is one of the financial modules within the suite of SYSPRO products. t can be run standalone, or integrated with other modules in the SYSPRO system. The other SYSPRO modules to which the Cash Book module integrates include: General Ledger Accounts Payable Accounts Receivable Electronic Funds Transfer Work in Progress ModuIe dependencies EssentiaI None Recommended General Ledger Cash Book 2008 SYSPRO Ltd. All rights reserved. www.syspro.com Page 4 of 8 Positioning within SYSPRO Cash Book 2008 SYSPRO Ltd. All rights reserved. www.syspro.com Page 5 of 8 Integration to other moduIes Cash Book The Cash Book module allows you to set up multiple banks in both local and foreign currency. You can run it as a standalone module, or integrate with General Ledger, Accounts Payable, Accounts Receivable, Electronic Funds Transfer and Work in Progress. n addition, it can produce online checks and remittances, bank reconciliation statements, consolidated statements and a bank balance report. An electronic bank reconciliation facility is also available. t provides a daily means of recording details about sundry deposits and withdrawals, maintaining Cash Book bank balances, reconciling and adjusting entries, and printing on-line checks. Entries can be posted manually or automatically, and the amounts can be distributed to a number of ledger accounts, including those belonging to other companies. Cash Book 2008 SYSPRO Ltd. All rights reserved. www.syspro.com Page 6 of 8 The system provides the facility of multi-period accounting that enables you to post transactions to previous months, making it appear as if the transaction actually occurred in that prior period. This feature is useful for month end procedures where, typically, documentation relating to the current months' business cycle has not yet been completed. You can close off the current months' processing; complete all the procedures relating to a month end; and then at a later stage still post transactions to the previous month. t is for this reason that many financial reports within the system allow you to produce reports for the current month, the previous month, or the month prior to the previous month. Payments to suppliers are normally recorded in the Accounts Payable module and receipts from customers are normally recorded in the Accounts Receivable module. These transactions can be integrated to Cash Book thereby avoiding double capture. This module is mainly used to capture movements on bank accounts, but can also be used for petty cash. The VaIue of Cash Book Provide visibility of current bank balances Track transactions that have not cleared the bank Know in what form cash resources lie Produce checks on line ncrease the speed and efficiency of bank reconciliations Provide statement balance inquiries Allow the forecasting of cash positions with automated cash projections Facilitate electronic payments nter-company postings Matching Cash Book to your business Manage numerous bank accounts Maintain local and foreign currency bank accounts Handle foreign currency transactions through local currency bank accounts Associate each bank with a unique General Ledger control account for accurate auditing Record bank deposits and withdrawals quickly and easily Perform bank reconciliations, both manually and electronically quickly and easily Process recurring entries automatically Easily process transactions between banks Update exchange rates for foreign currencies on the fly while processing entries Easily adjust previously entered deposit and withdrawal amounts Post transactions to multiple companies from the same screen Drill down to source transaction of A/P and A/R generated entries Cash Book 2008 SYSPRO Ltd. All rights reserved. www.syspro.com Page 7 of 8 Process transactions in prior periods Process A/P payments and A/R deposits in new month without closing Cash Book Cash Book 2008 SYSPRO Ltd. All rights reserved. www.syspro.com Page 8 of 8