Recording Daily Transactions in Gnucash - Revision history

Rfs at 18:49, 25 September 2010

2010-09-25T18:49:04Z

MichaelWestwind: /* Special tills */

2010-04-23T00:54:10Z

Special tills

MichaelWestwind: /* Special tills */

2010-04-23T00:53:45Z

Special tills

MichaelWestwind: /* Special tills */

2010-04-23T00:49:27Z

Special tills

MichaelWestwind: /* Special tills */

2010-04-23T00:41:51Z

Special tills

MichaelWestwind: special tills

2010-04-23T00:40:51Z

special tills

MichaelWestwind: /* Start with Credit/Debit for Front Desk and Thrift Store */

2010-03-10T23:14:14Z

Start with Credit/Debit for Front Desk and Thrift Store

MichaelWestwind: /* Now Enter the Thrift Store Transactions */

2010-02-27T21:07:27Z

Now Enter the Thrift Store Transactions

MichaelWestwind: /* Then Enter the Front Desk Transactions */

2010-02-27T21:03:34Z

Then Enter the Front Desk Transactions

MichaelWestwind: /* Then Enter the Front Desk Transactions */

2010-02-27T21:00:49Z

Then Enter the Front Desk Transactions

← Older revision		Revision as of 18:49, 25 September 2010
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−	In Gnucash, record the transactions from the day. (You need to be a member of the beancounters group on [[Free Geek's internal application server~~\|ryukin~~]] to do this.) These are frequently called "the Dailies."	+	In Gnucash, record the transactions from the day. (You need to be a member of the beancounters group on [[Free Geek's internal application server]] to do this.) These are frequently called "the Dailies."

	== Note on Double Entry Bookkeeping ==		== Note on Double Entry Bookkeeping ==

@@ Line 42: / Line 42: @@
 *Unless the miscellaneous till is going to be used again immediately, the total amount that comes back is the amount in box "B" and is then transferred from "Assets:Cash:Miscellaneous Till" to "Assets:Cash:Safe"
 **This should equal the initial amount, plus the income minus the cash outs.
-**If the till is going to be used again, then the amount in boc "C" is the amount of the transfer and should equal the income minus the cash outs.
+**If the till is going to be used again, then the amount in box "C" is the amount of the transfer and should equal the income minus the cash outs.
 This assumes that none of the contributions went into the database so there is no correction for differences from the database.

@@ Line 40: / Line 40: @@
 *Cash out items are put in "Assets:Cash:Miscellaneous Till" just the same as reimbursements at the front desk with the debit side being the appropriate expense type.
 *The amount above the initial amount plus the cash outs (box "F" on the End of Shift form or Till Worksheet") is a transfer from "Income:Fundraising Income:Fundraisers" or "Income:Fundraising Income:Outreach Events" to "Assets:Cash:Miscellaneous Till"
-*The total amount that comes back is then a transfer from "Assets:Cash:Miscellaneous Till" to "Assets:Cash:Safe"
+*Unless the miscellaneous till is going to be used again immediately, the total amount that comes back is the amount in box "B" and is then transferred from "Assets:Cash:Miscellaneous Till" to "Assets:Cash:Safe"
 **This should equal the initial amount, plus the income minus the cash outs.
 This assumes that none of the contributions went into the database so there is no correction for differences from the database.

@@ Line 38: / Line 38: @@
 == Special tills ==
 *When there is a special till for an event, the initial amount of the till is a transfer from "Assets:Cash:Safe" to "Assets:Cash:Miscellaneous Till"
-*The amount above the initial amount is a transfer from "Income:Fundraising Income:Fundraisers" or "Income:Fundraising Income:Outreach Events" to "Assets:Cash:Miscellaneous Till"
+*Cash out items are put in "Assets:Cash:Miscellaneous Till" just the same as reimbursements at the front desk with the debit side being the appropriate expense type.
 *The total amount that comes back is then a transfer from "Assets:Cash:Miscellaneous Till" to "Assets:Cash:Safe"
 == See Also ==

@@ Line 38: / Line 38: @@
 == Special tills ==
 *When there is a special till for an event, the initial amount of the till is a transfer from "Assets:Cash:Safe" to "Assets:Cash:Miscellaneous Till"
-*The amount above the initial amount is from "Income:Fundraising Income:Fundraisers" or "Income:Fundraising Income:Outreach Events"
+*The amount above the initial amount is a transfer from "Income:Fundraising Income:Fundraisers" or "Income:Fundraising Income:Outreach Events" to "Assets:Cash:Miscellaneous Till"
 *The total amount that comes back is then a transfer from "Assets:Cash:Miscellaneous Till" to "Assets:Cash:Safe"

← Older revision		Revision as of 00:40, 23 April 2010
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	If there are any amounts for invoices go to [[Invoices and the books\|this page]]		If there are any amounts for invoices go to [[Invoices and the books\|this page]]

		+	== Special tills ==
		+	*When there is a special till for an event, the initial amount of the till is a transfer from "Assets:Cash:Safe" to "Assets:Cash:Miscellaneous Till"
		+	*The amount above the initial amount is from "Income:Fundraising Income:Fundraisers" or "Income:Fundraising Income:Outreach Events"
		+	*The total amount that comes back is then a transfer from "Assets:Cash:Miscellaneous Till" to "Assets:Cash:Safe"

	== See Also ==		== See Also ==

@@ Line 7: / Line 7: @@
 *  When people pay with credit or debit cards, this payment is automatically shuttled into our checking account (unlike cash and checks which we physically deposit at the Bank).  This is why we track credit/debit payments separately in the books
 * Credit/Debit payments are entered into Assets:Bank:Main Checking.  There are two entries per day, one for the Front Desk and one for the Thrift Store
-* Make sure you enter the amount from the credit card summary slips, not from the database report.
+* Make sure you enter the amount from the credit card summary slips, not from the database report.  Normally the credit card deposits will be split out into the categories in the database, but if there is a discrepancy between the database and the summary slip, you will probably need to create a special line for the discrepancy (such as a tech support ticket paid by credit card)
 == Then Enter the Front Desk Transactions ==

@@ Line 27: / Line 27: @@
 * Secondly, we track the money that the Thrift Store staff actually ends up with at the end of the day.  This amount should be equal to the '''Till Total''' amount, but it may be different because someone was reimbursed.  This amount is noted on the Till Worksheet for the Thrift Store as '''C - Money for Safe'''.  Why is it called Money for Safe?  Because this is the amount that is physically transferred into the Safe, as part of a daily deposit.
 :* So, in the books (still under Assets:Cash:Thrift Store), enter a '''Daily Transfer''', using the amount on the Till Worksheet next to '''C - Money for Safe'''
-* So now we've tracked sales AND the actual amount of money in the till at the end of the day.  The '''Balance'' should read $600.00 (because, unlike the Front Desk, there are two tills in the Thrift Store).  If it ''doesn't'', then read on:
+* So now we've tracked sales AND the actual amount of money in the till at the end of the day.  The '''Balance'' should read $750.00 (because Thrift Store tills start out with $250).  If it ''doesn't'', then read on:
 :* What does the Till Worksheet say under '''D - Cash out*'''?  If there were any reimbursements, (ideally) they would be detailed in the '''Cash out notes''' section.
 :* see [[Recording_Income_and_Expense_Transactions_in_Gnucash|here]] for more info on recording income and expenses
 :* Can't find the discrepancy?  Then write it off and enter the discrepancy as an overage or a short till.

@@ Line 17: / Line 17: @@
 * So now we've tracked incoming donations AND the actual amount of money in the till at the end of the day.  The '''Balance'' should read $300.00.  If it ''doesn't'', then read on:
 :* What does the Till Worksheet say under '''D - Cash out*'''?  If there were any reimbursements or IOUs, (ideally) they would be detailed in the '''Cash out notes''' section.
-:* Did any money come in that was not recorded in the database?  Make sure that it is entered either as misc cash in (checks go here as well) or misc credit in and is itemized properly.
+:* Did any money come in that was not recorded in the database such as cash-only donations or tech support income?  Make sure that it is entered either as misc cash in (checks go here as well) or misc credit in and is itemized properly.
 :* see [[Recording_Income_and_Expense_Transactions_in_Gnucash|here]] for more info on recording income and expenses
 :* Can't find the discrepancy?  Then write it off and enter the discrepancy as an overage or a short till.