Difference between revisions of "Recording Daily Transactions in Gnucash"

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({{Cleanup}})
(first stab at overhauling the daily transaction bookkeeping instruction)
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{{Cleanup}}
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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."
  
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In Gnucash, record the transactions from the shift. (You need to be a member of the beancounters group on [[Free Geek's internal application server|ryukin]] to do this.)
+
== Note on Double Entry Bookkeeping ==
 +
* As a bookkeeper, you may notice always enter transactions twice.  Basically, we track exactly how the money comes in and then how it goes out (i.e. credit and debit).
 +
* FOR EXAMPLE
  
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== For the Store: ==
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== Start with Credit/Debit for Front Desk and Thrift Store ==
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# Enter the ''Net Sales'' number from the [http://data/reports/misc/incomeRptChoose.php income report] in the "Assets:Petty Cash:Store" account as "Income:Sales, Retail" as of the date of the shift with a description of "Sales".
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*  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
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# Enter (miscellaneous) ''Money Receipts'' as separate transactions in the "Assets:Petty Cash:Store" account. Each should have an appropriate income account and description. Enter them as of the date of the shift. The total of all ''Money Receipts'' entered should match the ''Money Receipts'' line on the [http://web.freegeek.org/deadtrees/endofshiftform.ps end of shift form].
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* 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
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# Enter ''Reimbursements'' as seperate transactions in the "Assets:Petty Cash:Store" account. Each should have an appropriate expense account and description. Enter them as of the date of the shift. The total of all ''Reimbursements'' entered should match the ''Reimbursements'' line on the [http://web.freegeek.org/deadtrees/endofshiftform.ps end of shift form].
+
 
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# Make sure that all Transfers in and out from the [http://web.freegeek.org/deadtrees/endofshiftform.ps end of shift form] are recorded in gnucash as well.
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== Then Enter the Front Desk Transactions ==
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# Enter the ''Till Adjustment'' number from the [http://web.freegeek.org/deadtrees/endofshiftform.ps end of shift form] in the "Assets:Petty Cash:Store" account as either "Income: Overages: Thift Store Overs" or "Expenses: Short Tills: Thrift Store Shortages" as of the date of the shift with a description of "Short Till".
+
* Bookkeepers keep track of how money comes and goes at the Front Desk till.  In addition to credit and debit cards (see above),the Front Desk receives cash, checks, and some coins.  In addition, when staff members need to be reimbursed (for mileage, buying a plunger for the toilet, etc.) they generally go to the Front Desk for this.
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# Enter the ''Money for Safe'' number from the [http://web.freegeek.org/deadtrees/endofshiftform.ps end of shift form] in the "Assets:Petty Cash:Store" account as "Assets:Petty Cash:Safe" as of today's date with a description of "Daily Transfer".
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* Front Desk transactions are entered into Assets:Cash:Front Desk
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# Verify that the balance in the "Assets:Petty Cash:Store" account is $300.00 (three tills at $100.00 each).
+
* First off, we track the cash and checks that the database says we received that day.  On the Income Report printout, this line is called '''Till Total'''.  Enter this in the books (under Assets:Cash:Front Desk) as '''Cash Income'''.  Please note the difference between mandatory Fees (i.e. monitor or pickup fees) and Suggested donations.
 +
* Secondly, we track the money that the Front Desk 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 or someone bought a sticker.  This amount is noted on the Till Worksheet for the Front Desk 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:Front Desk), enter a '''Daily Transfer''', using the amount on the Till Worksheet next to '''C - Money for Safe'''
 +
* 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, (ideally) they would be detailed in the '''Cash out notes''' section.
 +
:* HOW TO ENTER REIMBURSEMENTS
 +
:* HOW TO ENTER CASH IN
 +
:* Can't find the discrepancy?  Then write it off and enter the discrepancy as an overage or a short till.
 +
 
 +
== Now Enter the Thrift Store Transactions ==
 +
* Bookkeepers keep track of how money comes and goes at the Thrift Store till. In addition to credit and debit cards (see above), the Thrift Store receives cash, coins, and very rarely checks (people have to be approved to pay by check). In addition, when staff members need to be reimbursed (for mileage, buying a plunger for the toilet, etc.) they can go to the Thrift Store for this.
 +
* Thrift Store transactions are entered into Assets:Cash:Thrift Store
 +
* First off, we track the cash that the database says we received that day. On the Income Report printout, this line is called '''Till Total'''. Enter this in the books (under Assets:Cash:Thrift Store) as '''Cash Sales'''.  Please note the differences between Bulk, Friend, No Discount, and Volunteer - ''this is not always in the same order''!
 +
* 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:
 +
:* 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.
 +
:* HOW TO ENTER REIMBURSEMENTS
 +
:* HOW TO ENTER CASH IN
 +
:* Can't find the discrepancy?  Then write it off and enter the discrepancy as an overage or a short till.
  
−
== For the Front Desk: ==
 
−
# Enter the ''Cash'' number from the [http://data/reports/misc/incomeRptChoose.php income report] in the "Assets:Petty Cash:Front Desk" account as "Income:Donations:Donations, Cash" as of the date of the shift with a description of "Cash Donations".
 
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# Enter the ''Monitor Fees'' number from the [http://data/reports/misc/incomeRptChoose.php income report] in the "Assets:Petty Cash:Front Desk" account as "Income:Monitor Fees: Monitor Fees, Cash" as of the date of the shift with a description of "Monitor Fees".
 
−
# Enter (miscellaneous) ''Money Receipts'' as separate transactions in the "Assets:Petty Cash:Front Desk" account. Each should have an appropriate income account and description. Enter them as of the date of the shift. The total of all ''Money Receipts'' entered should match the ''Money Receipts'' line on the [http://web.freegeek.org/deadtrees/endofshiftform.ps end of shift form].
 
−
# Enter ''Reimbursements'' as seperate transactions in the "Assets:Petty Cash:Front Desk" account. Each should have an appropriate expense account and description. Enter them as of the date of the shift. The total of all ''Reimbursements'' entered should match the ''Reimbursements'' line on the [http://web.freegeek.org/howto/deadtrees/endofshiftform.ps end of shift form].
 
−
# Make sure that all Transfers in and out from the [http://web.freegeek.org/deadtrees/endofshiftform.ps end of shift form] are recorded in gnucash as well.
 
−
# Enter the ''Till Adjustment'' number from the [http://web.freegeek.org/deadtrees/endofshiftform.ps end of shift form] in the "Assets:Petty Cash:Front Desk" account as either "Income: Overages: Front Desk Overs" or "Expenses: Short Tills: Front Desk Shortages" as of the date of the shift with a description of "Short Till".
 
−
# Enter the ''Money for Safe'' number from the [http://web.freegeek.org/deadtrees/endofshiftform.ps end of shift form] in the "Assets:Petty Cash:Front Desk" account as "Assets:Petty Cash:Safe" as of today's date with a description of "Daily Transfer".
 
−
# Verify that the balance in the "Assets:Petty Cash:Front Desk" account is $300.00 (three tills at $100.00 each).
 
  
 
== See Also ==
 
== See Also ==

Revision as of 14:18, 10 March 2009

In Gnucash, record the transactions from the day. (You need to be a member of the beancounters group on ryukin to do this.) These are frequently called "the Dailies."

Note on Double Entry Bookkeeping

  • As a bookkeeper, you may notice always enter transactions twice. Basically, we track exactly how the money comes in and then how it goes out (i.e. credit and debit).
  • FOR EXAMPLE

Start with Credit/Debit for Front Desk and Thrift Store

  • 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

Then Enter the Front Desk Transactions

  • Bookkeepers keep track of how money comes and goes at the Front Desk till. In addition to credit and debit cards (see above),the Front Desk receives cash, checks, and some coins. In addition, when staff members need to be reimbursed (for mileage, buying a plunger for the toilet, etc.) they generally go to the Front Desk for this.
  • Front Desk transactions are entered into Assets:Cash:Front Desk
  • First off, we track the cash and checks that the database says we received that day. On the Income Report printout, this line is called Till Total. Enter this in the books (under Assets:Cash:Front Desk) as Cash Income. Please note the difference between mandatory Fees (i.e. monitor or pickup fees) and Suggested donations.
  • Secondly, we track the money that the Front Desk 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 or someone bought a sticker. This amount is noted on the Till Worksheet for the Front Desk 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:Front Desk), enter a Daily Transfer, using the amount on the Till Worksheet next to C - Money for Safe
  • 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, (ideally) they would be detailed in the Cash out notes section.
  • HOW TO ENTER REIMBURSEMENTS
  • HOW TO ENTER CASH IN
  • Can't find the discrepancy? Then write it off and enter the discrepancy as an overage or a short till.

Now Enter the Thrift Store Transactions

  • Bookkeepers keep track of how money comes and goes at the Thrift Store till. In addition to credit and debit cards (see above), the Thrift Store receives cash, coins, and very rarely checks (people have to be approved to pay by check). In addition, when staff members need to be reimbursed (for mileage, buying a plunger for the toilet, etc.) they can go to the Thrift Store for this.
  • Thrift Store transactions are entered into Assets:Cash:Thrift Store
  • First off, we track the cash that the database says we received that day. On the Income Report printout, this line is called Till Total. Enter this in the books (under Assets:Cash:Thrift Store) as Cash Sales. Please note the differences between Bulk, Friend, No Discount, and Volunteer - this is not always in the same order!
  • 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:
  • 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.
  • HOW TO ENTER REIMBURSEMENTS
  • HOW TO ENTER CASH IN
  • Can't find the discrepancy? Then write it off and enter the discrepancy as an overage or a short till.


See Also

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