FAQ‎ > ‎

Cashbook and Journal Transaction should follow PDC date instead of Receipt Creation Date

posted Aug 4, 2009, 1:24 AM by Unknown user   [ updated Aug 10, 2009, 9:42 PM ]
Scenario 1:
Assume that today is 10-08-2009, a customer settle a payment with a PDC dated 02-09-2009, the dates captured by the system will be as below:

 Journal Transaction Date
 10-08-2009
 Cashbook Transaction Date
 02-09-2009
 Receipt Transaction Date
 10-08-2009


The Journal Transaction and Cashbook captured different dates. Thus, when the users check the GL balance and Cashbook on 31-08-2009, the balance will not tally because the GL has included the above transaction whereas the Cashbook has not.

In order to prevent the scenario above from happening, users are advised to change the receipt date to the post date (eg. 02-09-2009) when settling customer payment with PDC.



Scenario 2
:

Assume that today is 10-08-2009, a customer settles a payment with cash and PDC dated on 02-09-2009 at the same time. In order to maintain the integrity of the GL and Cashbook, user will need to create 2 individual receipt because there will be only one journal transaction per receipt. The date for the respective receipt will be as follow:

 Receipt 1001 for cash 10-08-2009
 Receipt 1002 for cheque 02-09-2009


Note:

The customer's billing statement will follow the receipt date so it is important to make sure that the receipt date is correct. When user generate customer billing statement for August 2009, the amount of the cheque, dated 02-09-2009 will still appear in the outstanding amount as the payment is not considered settled until 02-09-2009. To generate the billing statement, refer to Customer Billing Statement.




Comments