Bank Receipts

Use the Bank Receipt option to record any money you receive that is not to pay invoices you have sent, e.g. interest or dividends received or money received for an insurance claim you made, or for a grant.

You can record details of this money into one or more of the different nominal accounts. By allocating your income to different accounts you can see at a glance the different sources of your money, how much you are receiving from each source, and when.

The transaction entry window that appears for you to enter your receipts is the same, whatever the type of bank account that you select: Cheque Account, Cash Account or Credit Card Account. However, each type of account logs into the audit trail a different transaction type.

Make sure when you are dealing with credit card receipts that you have selected the correct credit card bank, i.e. do not use your company credit card bank to receive the credit card sales slips that you accept.

Note: If you select a Company Credit Card account (rather than a Credit Card Receipts account), Sage Line 50 warns you that the account you selected is usually for payments only and vice versa. You can turn off this warning on the Company PreferencesÆ Parameters tab.