Enter Cash Receipts

This option is used to enter cash receipts and track checkbook balances. Cash receipts typically include payments of premiums by customers or commission payments received from companies. Any revenue that represents a deposit into a bank account is entered as a cash receipt. You may enter cash receipts at any time, but you should enter them daily for the following reasons.

• When you enter a receipt from a client, a credit is automatically applied to the client's account balance. By staying current with client receipts, you can keep client balances up-to-date.
• Each time you enter a cash receipt, the General Ledger cash account balance is updated. This feature ensures that you keep a current bank balance at all times.

1. At Home Base, click Accounting.
2. Click Receipts > Enter Cash Receipts.
3. The Entering Cash Receipts screen displays. Double click in the Journal Number field to select the cash journal to which you are depositing the receipt. When you select a cash journal, the Agency, Account (this is the General Ledger account number for the cash journal), description, and Bal fields default accordingly.
   
   Note: You can only view the balance for the cash journal if granted security rights.
4. The Deposit Number defaults and cannot be modified.
5. The Date and Month for the deposit default but can be modified if desired.
6. Optionally enter a Receipt Balance that indicates the total amount you will enter for this receipt. When you file the receipt, TAM verifies that the Receipt Balance entered here matches the Total Deposit field (which calculates based on the Amount column for all lines on the receipt).
7. Double click in the Type field and select Customer, Broker, Lienholder, Finance Company, or Other.
   • If you selected Customer, Broker, Lienholder, or Finance Company, double click in the Ref Number field to select the appropriate entity. The B (branch), D (department), Account, Name, and Bal fields default accordingly. The Account for these types of receipts defaults to the Accounts Receivable General Ledger account.
   • If you selected Other:
   • 1. Modify the B (branch) and D (department) fields as necessary.
     2. Double click in the Account field to select the General Ledger account this deposit should offset. The Title and Bal fields default accordingly.
8. Optionally double click in the Schedule field to associate a schedule to this receipt.
9. Fill in the Check Number/Description and Amount fields.
10. If you selected any Type other than Other, select a Payment Method. To view more information, refer to Payment Methods.
    
    Note: To view the items associated with a specific invoice, click Invoice Search.
11. Click Accept Line to confirm that the information for the current receipt entry is correct. The entry is added to the receipt.
12. Click Accounting Note to optionally attach an internal accounting note to the currently highlighted receipt entry. Use internal accounting notes to store any message relevant to the cash receipt, e.g., explanation of an unusual receipt amount or peculiar payer. Click OK to save the note.
13. To add another line to the receipt, repeat steps 7-12. When you are finished adding lines, click OK.
14. Click Yes to file the deposit. The Print Deposit window displays.
15. Click Print to print the deposit slip.
    
    After the deposit slip prints, the program returns to the Entering Cash Receipts screen.