ENTER CASH RECEIPTS

Use this screen to record cash received from invoices, transfers, and travel advances. You can enter transactions for invoices and transfers using one of two methods.

To use the first method, enter all of the accounting information related to the cash receipt for both the debit to the cash account and the credit to the receivable account. You also need to reference the invoice number and customer number for each cash receivable account.

To use the second method, select the Invoice Info button, then select from the table of outstanding invoices and enter the amount received for each one. When you have distributed the amount received, click OK. The system will look up the accounting information related to the selected invoices and use it to create the debit and credit rows on the Enter Cash Receipts screen.

After you have entered all the accounting information, print a cash receipts journal and then post it to the ledgers. The posting from the cash receipts journal will update receivable history.

Record accounting transactions in this screen in accordance with your company's policy of recording cash receipts from invoices, transfers, and total advances (for example, daily, twice weekly, etc.). Once you have posted a cash receipt, you can view but not edit it.

Receipt

Date

Enter the receipt date for the transfer(s) or cash receipt(s) to be entered. In general, you should do this daily. The date you enter cannot be more than 50 years before the current year, as determined by your system date. If you enter an old date, you will receive an error message asking you to check and reenter the date.

Number

The receipt number is a nine-character numeric field. This number must be unique within each accounting period. Leave this field blank to have the system automatically assign the next available receipt number within the account period entered on this screen. When you save the transaction, the assigned receipt number displays and cannot be changed. If you allow the system to assign the receipt number, it will add one to the number currently stored in the transaction control number table. As an alternative, you can manually assign receipt numbers.

Costpoint assigns the cash receipt number by fiscal year and period. Cash receipt numbers will automatically begin at 1 for each new accounting period. You can change the last system number in the Set System Assigned Cash Receipt Number screen whenever the validation for duplicate numbers prevents you from saving a new transaction. You can also use the Set System Assigned Cash Receipt Number screen to maintain the sequential ordering of numbers from one accounting period to the next.

Deposit Number

Enter a deposit number of up to 15 alphanumeric characters. This field is optional.

Travel Advance

If you select this check box, you can use the Advances button to access the Travel Advance subtask. The Exchange Rate, Invoice Info, and Transfers buttons will not be accessible and you will not be able to edit the data in the table window of this screen. However, if you leave the check box unchecked, the Advances button will not be accessible, but you can use the other buttons and edit the data in the table window of this screen.

If you use a cash receipt to record travel advance reimbursements, you must select this check box immediately upon entry into this screen. You cannot enter a cash receipt that contains both invoices and travel advances. The Travel Advance check box is enabled only if you have purchased Costpoint Travel.

Over Budget

This check box is used in Costpoint Budgeting and ETC during the Calculate Over Budget Transactions process. Encumbrance tracking allows you to track expenditures for both posted and unposted transactions on an individual project and compare these expenditures to the budget ceilings.

This checkbox will be selected if the transaction amounts are above the budget ceiling. As a result, if someone tries to post cash receipts, the transaction will not be accepted. If this occurs, you can:

Currency/Rate

Exchange Rate

Click this button to open the Exchange Rates subtask. Use this subtask to enter the type of currency received in payment for the selected invoice. This subtask is used to override the currency type in the Currency field. Remember to use the Change Rates function in the Exchange Rates subtask when changing currency. This button is not available if you selected the Travel Advance check box.

Currency

When you enter a new cash receipt, this field contains your company's functional currency. Using the Exchange Rates subtask, you can change this to the type of currency received.

When you review an existing cash receipt, this field displays the currency received for this cash receipt.

Rate Group

This field displays the rate group selected for this cash receipt. Rate groups are maintained in the Maintain Exchange Rate Groups screen in Costpoint Multicurrency and contain currency exchange rate information.

Period to Post

Fiscal Year, Period, Subperiod

These fields will automatically display the current fiscal year, period, and subperiod. To change these fields, select a fiscal year, period, and subperiod from the drop-down lists or enter the information.

Entry

User

This non-editable field displays the ID of the person who logged into the system.

Date

This non-editable field displays the system date.

Table Window

Line

This is a non-editable field, incremented automatically by the system. As you insert lines in this table, the line number is recalculated.

Invoice Number

Enter the invoice number that relates to the amount received. If the system finds the invoice in the receivable history, it will fill in the account, organization, project, and customer number fields, if they apply. You also can select the Invoice Info button to record cash receipts. If you use the Invoice Information subtask, do not enter anything into the Enter Cash Receipts screen; the program will automatically enter all of the required accounting information, including the debit to the default cash account, after you have selected the invoices that were paid. If the invoice has not been entered or posted to the General Ledger, you can still enter it, but you must also enter the Account, Organization, Project (if applicable), and Customer Account (if applicable), so that, when the invoice is posted from the billing side, all of the information will match up in the open receivable reports.

Expense Report ID

Use this optional column to enter an expense report ID of up to 12 alphanumeric characters.

This expense report ID identifies the travel advance that produced leftover monies that an employee returned to the company. You enter the actual funds into Costpoint using this screen. 

Customer Account

Enter, or use to select, the customer account number a customer. When you post cash receipts, the system automatically uses the customer number assigned to the invoice for history. If you enter a customer number and the system cannot find the invoice number for that customer, the system will record the transaction using the customer number that you entered. This may cause a discrepancy if you run the A/R Aging report by customer, rather than invoice or project. In general, you should not enter a customer account for cash receipts that have invoices related to them, since the system will automatically bring in the customer's account number after the invoice number is entered.

Account

Enter, or use to select, an account. As you tab to the next column, the system will validate that the account number is not a summary account, that the account is active, and that the account allows charging for the fiscal year, period, and subperiod of this cash receipt. The system will display a warning message if the account fails any of the above validations; you should then correct the account. When you exit the row and save the cash receipt at the same time, the system will perform additional validation to determine whether the account is valid for the organization. In general, you should not enter accounts for cash receipts that have invoices related to them. Instead, you should either use the Invoice Information subtask, or enter the existing invoice ID on the line and the account will automatically default in the column.

Organization

Enter, or use to select, an organization number. As you tab to the next column, the system will validate that the organization is active and that the organization allows charging for the fiscal year, period, and subperiod of this cash receipt. The system will display a warning message if the organization fails any of the above validations; you should then correct the organization. Note that if you have used an organization abbreviation, you should not enter anything in this field unless you want to erase the organization abbreviation. If you exit the row and save the cash receipt at the same time, the system will perform additional validation to determine whether the organization is valid for use with the account.

Bank Abbrev

This non-editable field displays the bank abbreviation for the account/organization combination on this line. This bank abbreviation name is created in the Maintain Company Bank Accounts screen in Costpoint General Ledger and is linked to accounts/organizations via the A/R Settings screen or the Maintain Transfer Accounts screen.

Project

Enter, or use to select, a project number. If you use for a project after entering the Account and Organization, it will list only those projects that are valid for the Account and Organization combination. The program will also check that the fiscal year, period, and subperiod ending date is not later than the project end date. You will receive a warning if the project is not included in the period of performance, but you will be able to continue. You should note that if you have used a project abbreviation, you should not enter anything in this field unless you want to erase the project abbreviation.

Proj Acct Abbrev

The project account abbreviation, if any, will default into this column.

Ref 1

Enter, or use to select, a reference number that is assigned to reference number 1. The heading entered for reference 1 in the G/L Settings screen in Costpoint General Ledger will display your label for this field. As you move to the next field, the system will validate that this reference number can be charged. If you have entered an invalid reference number or a reference number that is not a reference number 1, you will receive an error message and will need to correct the reference number before continuing. No additional validation will occur if you exit the row or save the cash receipt.

Ref 2

Enter, or use to select, a reference number that is assigned to reference number 2. The heading entered for reference 2 in the G/L Settings screen will display your label for this field. As you move to the next field, the system will validate that this Reference number can be charged. If you have entered an invalid reference number or a reference number that is not a reference number 2, you will receive an error message and will need to correct the reference number before continuing. No additional validation will occur if you exit the row or save the cash receipt.

Org Abbrev

Enter, or use to select, the abbreviated code, up to six characters, for the desired organization number. If you have already entered the organization number on this line, you can tab through this field and the system will insert the corresponding organization abbreviation.

Proj Abbrev

Enter, or use to select, the abbreviated code, up to six characters, for the desired project. If you have already entered the project number on this line, you can tab through this field and the system will insert the corresponding project abbreviation.

Check Number

Enter the number of the check or EFT (up to nine numerals) that the customer used to pay the invoices. This information will be stored in the receivable history or travel advance history for future reference. Although this field is optional, we suggest that you enter a check or wire transfer number as a reference for the cash you are posting.

Transaction Description

Enter a description (up to 30 characters) for this detail line. This will be stored in the General Ledger detail and will be printed on detail account and project reports. You can edit this field for both cash receipts and receivable items.

Amount Received

Enter the amount received for this invoice number. If the customer took a discount, record the amount received on one line and the discount on another line, using the same invoice number.

Discount Amount

Enter the discount taken for this invoice. The system will credit the receivable account and post the debit to the Discounts Taken Account in the A/R Settings screen. Note that entering a discount taken does not change the debit and credit totals at the bottom of the screen. This is done so that you can match the total debit to the cash received for the day.

Finance Charge Rcvd

Enter the amount of the finance charge that you received for this invoice. You should enter this amount as a separate line item. The total of this column plus Amount Received plus the Unidentified Amount Received (in the Invoice Information subtask) must add up to the Amount Received in the header of the Invoice Information subtask.

The Account/Org/Project where you post finance charges is usually different than the receivable account used for A/R.

Vendor

This non-editable field displays the vendor identification number once you select a vendor and complete the required information in the Travel Advances subtask and click OK.

Advance Number

This field displays the non-editable 10-character number you assigned to the advance in the Enter Advance Requests or Maintain Advance History screens in Costpoint Travel.

Show Names

Select this check box to display the Project Name, Organization Name, Reference 1 Name, and Reference 2 Name for this cash receipt row.

Customer Name

This field displays the customer name.

Bill Curr

This column displays the three-letter code of the currency used for this customer's bill.

Func Amount Rcvd

This column displays the value of the Amount Received column displayed in your company's functional currency.

Func Discount Amt

This column displays the value of the Discount Amount column displayed in your company's functional currency.

Func Finance Chg Recvd

This column displays the value of the Finance Chg Rcvd column in your company's functional currency.

Receipt Currency Total (Debit, Credit)

These two fields display running totals for the debit and credit table window transactions. You cannot save the cash receipt if the debit and the credit totals do not equal.

Functional Currency Total (Debit, Credit)

These two fields display running totals for the debit and credit table window transactions expressed in your company's functional currency. You cannot save the cash receipt if the debit and the credit totals do not equal.

Invoice Info

Click this button to open up a subtask where you can select from all outstanding invoices and apply cash received against them. You can sort invoices by invoice number, customer PO number, project, customer account, invoice date, due date, original discount, or invoice amount due. Once the invoices have been selected and the amounts distributed, click OK to have the system look up the accounting information and record it in the cash receipts screen. The information in this screen is updated only after you post the cash receipts to the General Ledger. You cannot save this subtask until the Amount Received field has been reduced to zero.

Transfers

Click this button to open the Transfers subtask where you can record transfers of cash from one account/organization to another. You must set up the allowable accounts in the Maintain Transfer Accounts screen before you use this subtask. Once you have entered all of the required information, click OK to make the appropriate entries appear in the Enter Cash Receipts screen.

Advances

Click this button to open up a subtask where you can enter reimbursements for travel advances given to vendors (employees) by your company. You must enter data such as vendor ID, check number, and the amount of the check received before you create the cash receipt lines on the main screen table window. The Amount Received field in this subtask should always equal that of the Current Amt Applied field. The Advances button is accessible only if you have Costpoint Travel.

You must perform all entries and edits for travel advances in this subtask. You cannot edit advance information in the main screen.

Once you have launched the Travel Advance subtask, enter, or use to select, a vendor ID from which you have received reimbursement. Once you tab out of the Vendor field, all outstanding advances for that vendor will display. Only outstanding advances default into the table window.

Outstanding advances are defined as advances that have an outstanding balance. Advances that have been partially relieved will display and will reflect that previous amounts have been applied against them. You can modify the output in the table window to display all travel advances issued for the selected vendor. If you do not select the Show Outstanding Advances check box, a total advance history for that vendor will display.

The table window will populate with the amount of the advance request. It will also display the amount of the check issued for that advance. The Outstanding Amt column displays the outstanding amount and is derived by subtracting previous amounts applied from the check amount. The Current Amt Applied column displays the current amount of the travel advance and is the only column that you will edit, by recording the cash reimbursement for the selected advance. The current amount applied to any record will be limited to the outstanding amount. In other words, you cannot apply a cash receipt that exceeds the outstanding balance of the advance. The Previous Amt Applied column reflects the amount of the advance already reduced by previous cash receipts or expense reports.

Doc Location

Click this button to open the Document Location subtask. Use this subtask to pinpoint the location of a document image containing information that supports the data you are entering.