1. In the main menu bar select Petty Cash > Petty Cash Entry
2. Click the Insert button to start a new batch
3. Select your Petty Cash Custodian Code and Currency
4. Enter the Date of the envelope.
5. In the Vendor field, enter first three digits of vendor name (e.g. 'SMI' for Brett Smith) and press TAB. A pop-up window will appear with all current vendors (if it has already been setup as a Petty Cash vendor in Vendor Master Maintenance). Highlight the vendor and click Select
If the Vendor hasn't already been setup, then from the same pop-up screen click Add New Vendor. This will take you into VENDOR DETAILS window (refer Creating a New Vendor).
The importance of entering all data with its relevant claimant Petty Cash Vendor Code cannot be overstated. Even if claimants do not have a Petty Cash Float, they should still be entered under their Petty Cash Vendor Code so that inquiry and reports can be run for these people if needed.
6. Enter the PC barcode sticker number if you are scanning your files. See Scanning and Uploading Files
7. Enter Envelope Number if you have a numerical numbering system setup. Or leave in number generated through auto-numbering.
Through system defaults, you can elect auto numbering. Although if you are using a multi-user system, the envelope number is committed as soon as the window is opened. As soon as you complete an entry in the Petty Cash Entry window, you will be prompted for your next entry and with it the next chronological Envelope Number. If for any reason you decide to close this window at this point and then re-enter it later, you will find that the Envelope number will jump one number, hence you will not have consecutive numbers. This will have no effect on the integrity of your data but rather affect the cosmetic look of your Envelope reference numbers. You can elect to enter you own envelope numbers if you have your own numerical numbering system.
8. Check the Tax Code to make sure it is correct. This is setup with vendor in Vendor Details window > Tax Details tab
9. In Amount Accounted For enter the total amount of the receipts. In Amount Adv enter the amount to be return to the crew member from the petty cash custodian.
When entering the Petty Cash Amount in your Petty Cash Entry window, it is important to understand the principle of "Cash in Cash out". The bottom line is how the transaction affects your Petty Cash Tin as to how you will enter the Petty Cash amount. The Petty Cash amount is treated like an invoice. If cash is paid out, the amount should be a positive. If cash is received, the amount should be negative and an entry should then be made in the distribution to show the float being reduced if applicable.
If no cash is paid out or received, enter zero in the amount field and an entry should then be made in the distribution to show the float being reduced. If you are confused when someone is partly returning a float and at the same time is claiming expense reimbursement, remember to just look at the net effect on your Petty Cash Tin for the whole transaction for guidance. If you stick to this "Cash In Cash Out" rule you will always be able to Reconcile your tin.
10. Enter each receipt in the transaction lines. Enter the Chart of Account codes that receipt has been coded to.
11. Enter the TX field per receipt.
12. Enter Date and the Description of purchase
13. Enter the full amount of receipt in the Gross field. This will automatically calculate the net amount.
The processing of large amounts of Petty Cash detail which includes Indirect Taxes, can be a tricky exercise as you must be able to balance correctly in order to complete your Indirect Tax returns. When entering Petty Cash, you will notice three amount columns on the distribution line. They are Gross, Tax and Amount.
When entering Cost Distribution details, you have the choice of simply entering the Net amount or the Gross. This can be setup through System Defaults.
14. The Tax field is just a balancing tool and has no bearing on distribution. Use this to balance against Tax distribution line only.
15. Once all receipts are entered, press OK. If your distribution balances, a fresh screen will appear.
Please note: You may have to make minor adjustments to receipt totals due to rounding
16. Once you have entered all of your PC Forms, return to the Unposted Petty Cash List window. Tick the Select All button and click Reports.
17. Run an Input Report to double-check all your entering
18. Run a Distribution report to ensure that the amounts are allocated to the correct accounts
19. Once everything looks good, in the Unposted Petty Cash List window, tick Select All and click Post, the Post PC to GL window will appear, select Post again. The expenses are now posted to your General Ledger.