All Sales that are completed on the humble Till will be auto allocated with their payment after you have done a cash up. You will not need to allocate the receipts to invoices as this happens automatically.
When a sale is done through Humble till of R750 and you have done a cash up:
An invoice will created on the Cash Sale - Humble Till Customer therefore increasing the Cash customer/ trade receivable balance by R 750.
Your sales account will increase by the R750.00
When the customer pays cash for the Sale:
The humble till (Bank account) will reflect an amount of R750 received which will be allocated to the cash customer.
This will then zero out the balance of the cash customer.
When you import your bank statement through any of the 3 methods. either manually with Yodlee or an Import file.
You will have a transaction of R750 which was received by the customer.
This will then need to be allocated/transferred to the humble Till account.
When reviewing the Humble till cash book after the above transfer, you will note that the balance has been reduced (the Intention is to zero out the balance).
The Final trial balance should not reflect or include the humble Till cash book.
What to do when the bank charges you commission on the R750.00, and the bank statement reflects only R700.00.
Allocate/transfer the payment to the humble till cashbook as you would do to the above steps.
When reviewing the Humble till Cashbook you will note that the balance reflects R50.00.
The outstanding amount being the commission/Bank Charges will need to be allocated to bank charges or bank commission (Expense account).
Allocating a payment to a Credit customer:
When capturing on your humble till you will allocate the sale to your credit customer.
Invoice will be created:
There will be no humble till cash book transaction.
When payment is received through the bank statement, allocation will be made to the specific customer.
When there is commission charged:
Customer balance needs to be reduced by the balance, by processing a customer adjustment.
If you have nay questions, please do not hesitate to contact our support team on firstname.lastname@example.org