Proper journalling of excess cash ("keep the change")

[JBrinkZA]

Hi Everyone,

Contemplating options for the appropriate handling of excess cash in the general ledger on Sage Online.

A client has paid more in cash than the invoiced amount, and did not accept the change back ("keep the change"). The cash has been banked in full, so obviously this is a split allocation.

The total amount splits into:

• R1480 to the walk-in client
• R20 unallocated

The client is a once-off cash customer, so can't allocate it to a Customer Account to serve as a credit.

What is the best way to handle this? Maybe put it into a control account in the Banking Split allocation, and then pushing it to Petty Cash?

All advices are appreciated!

-JB

[Andromeda]

Hi

It is an Accounting matter, not a Sage matter.

At the end of the entry you should have
Debit Cash on hand (the total monies collected)
Credit sales
Credit cashup surplus or whatever you want to call it.

After depositing the takings it is Debit Bank, Credit Cash on Hand.

Leave Petty Cash out of it.