6.6 Cash Receipts Entry (06140m)

NOTES:

• All incoming money is processed through this application
• Muli requires all money be allocated
• One payment may be allocated to a number of different Income Orders
• All payments are converted to local currency for posting
• The GST on payments is identified and allocated separately

1. Company : The alpha "A" allocated to the company producing the invoice
2. Customer Organisation : The 6-alpha code you have allocated, eg: MULIMA
3. Receipt Date : Date payment received
4. Payment Method 323 : F3 key displays a list of payment methods.  You can add to this list by going into menu [1.9] type in code 323, which is shown at the top of the list of payment methods, and input your new data.
5. Cheque Number :  This field allows you to type in the cheque number; DD reference; payment reference for other selections, such as Visa; and if receiving Cash, will skip this field.
6. Client Reference : Type in the Client's reference; repeat the cheque no; or leave blank
7. Bank Alpha : Select the Bank Alpha you are depositing this payment into.
8. Currency 223 : Defaults to $AUS.  F3 will display other currencies.
9. Received Amount : Amount of payment received
10. Create Invoice - Yes/No : If the invoice for this payment is already in the Muli system, select "No".  Otherwise, you can produce the invoice by selecting "Yes".  If "Yes" selected, the cursor will skip to Item 13 and you proceed to create the invoice in the normal manner.
11. Our Invoice Number : If an invoice has been raised in Muli and you have selected "No" at Item 10, you can F3 and a window will pop up showing outstanding invoices, from which you can select the required invoice to be cash receipted.  The cursor skips to Items 16-20, accept the defaults or change if necessary.
12. A/R Folio Number
13. Project/Order
14. Allocation
15. Order
16. G.S.T code 321
17. Apply-to Date
18. Description 280
19. Folio Received amt inc G.S.T
20. G.S.T amount

You will now be asked the question "Do you want to reconcile this transaction?".  If "Yes", you will be allocated a Folio Number.  If "No", you can manually reconcile at a later time through menu [6.8] AR Reconciliation.

NOTES: Adjust incorrect Cash Receipts

Muli does not allow reversal of a RECONCILED Cash Receipt.  If you inadvertently reconcile a cash receipt against the wrong order through menu [6.6], the following steps can rectify the problem:

1.  [6.3] Raise an AR invoice for the two Orders involved, with a (+) and (-) Amount to balance the two Orders to zero.

2.  [6.6] Do a Cash Receipt for both Orders with a "0" value.

This procedure corrects the Orders and the Bank is not affected.

NOTES: Receipt of money on overhead after close of year

Historically, Muli created a payment in the prior year, then brought forward a (-ve) invoice to the next year during the transfer of the year-end balance for accounts receivable not yet received. However if the funds were not received in the following year issues emerged, so Version N no longer creates transactions at Year End Roll Over.

On cash receipt (6.5) if the user selects invoice from last year's overheads, then an account receivable payment is credited to last year's overheads, The normal AR transaction is created on the Credit Order along with a Second Balance transaction 0999 - the Roll Forward Clearing Account.

Therefore the prior year's overhead can't balance in the "General Ledger Prior Years" unless all Account Receivable invoiced monies are received.