Hi, Good Day!
Another question for today. I am currently studying the Accounting Module and I am a bit lost. Anyway, regarding this Cash Register tab, can this be considered as Petty Cash? How to used it? I mean, can somebody give me a step by step procedure on how to use this Cash box, and what is OBI by the way? I'm a bit confused so a little opinion can possibly help.
How to setup its opening and closing balance? Thanks !
I am in a similar situation as you. Let me tell you what I understand so far of how it works. Let me know if my info is helpful to you or if you discovered things that contradict how I think it works!
I got a pile of cash in the safe. (say 1000$) then I have a little box on my office for people coming in wanting a little cash to get small stuff like a lightbulb.
Step 1) configure the cash journal goto: configuration >> journals >> journals >> click on the cash journal Then select the cash journal for the profit account, the loss account and the internal transfer account. This means if you put money in this cash register it will be taken from the cash account.
Question 1) I read in another post something about the checkbox opening with last closing balance but wasn't able to figure out how it works. (checking and unchecking didn't really change the behaviour)
Step 2) Create a cash register goto: bank & cash >> cash registers >> click create Now click open cashbox. At this point the box is empty. Lets assume you have 4 fifty dollar bills for the cash register.
Step 3) Put money in the box Click on the more button in the center of the top toolbar, then select put money in Put 200 and as reason something like initial deposit.
Step 4) do a petty cash transaction Click edit then add item in the obi put lightbulb in the amount put -5 (don't forget the minus sign else it will add to the register). Also put office expenses in the account.
OBI: I am not sure about the OBI but I think it seems to be just a reference to the transaction. Because when you put the reason for the initial deposit it puts it in the OBI space. However if you put numbers it will rank you transactions according to the OBI number which is odd. The OBI code stand for : "Originator to beneficiary information" (hover over and you will see).
Step 5) Take money out to close the cash register At the end of the day you take what reamins fo the cash register out of your box and add it to the cash in your safe. Click more, take money out, Reason end of day withdrawal, amount -195
Step 6) Close cash box Click close cash box and you will see it will make the proposed journal items for you. one in particular being the office expenses being debited and cash being credited.
a bit late(r) cause I had the same problem. However this is one (of the view) things which is described properly in the Docs:
You have to go menu Accounting â£ Configuration â£ Journals â£ Journals and open the cash journal , then go to the Cash Register tab of form and select option Opening With Last Losing Balance and Cash Control.
Because if you do not select that options , than you will find Opening Cash Control field 0.00 of Cash Register form. So first you have to configure Journal.
Hope it (still) helps
Is it a must that closing the cash register should be empty ?
every time i try to close the CR with some money inside I get error msg saying that the expected amount of 0.0 is not equal to the computed amount ?
If so then this is not a way to manage a petty cash. and this is made only for POS sales which got emptied daily.
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