The SapphireOne Cash Payment is entered in the Payables section of Accounts Mode, it is the simplest way to pay funds from a bank account by-passing the creditors ledger. You may need to use this type of transaction to enter bank fees, or any expenses and charges that are not related to a vendor’s transaction ledger. You can transfer monies from one bank to another by entering a cash payment from one bank and a matching cash receipt to another bank account in your general ledger.
The cash payment may be split on the sub-ledger lines to an unlimited number of general ledger accounts, each general ledger accounts can be allocated to a specific project. The user has the ability to assign the same general ledger account multiple times with a unique amount going to each project if required.
The user may add notes about the payment in the memo field and can also attach one or more documents by selecting the paper clip icon. Each document attached has a record of time, date and version. These documents can be accessed in history for the life of the data file.
A cash payment may be scheduled as a recurring transaction, which can be set to recur daily, weekly, fortnightly, monthly or yearly, or a specific number of days. The recurring cash payment may be set up with a start date and finish date, for example it may be regular bank charges, or interest on your overdraft, where the same amount is charged monthly. These recurring transactions are created automatically with no input required by the end users.
In a cash payment transaction, the user has the ability to add an Action where a reminder can be set to email or message a particular user and will automatically appear in the SapphireOne calendar.
The user may also create a workflow for cash payment transactions which will enable automatic notification of the users within the organisational chart that a cash payment has been entered and requires authorisation.
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