[Question] TRANSFERING FROM MAIN ACCOUNT TO CALL ACCOUNT

[Tee]

Good day

How do you account for money transfered from the call account to the main bank account in pastel express partner and vice versa.

[Neville Bailey]

I assume that you have set up a cashbook journal for both the Call Account and the Main Bank Account?

If so, then you first need to create a Transfer Account in the Balance Sheet.

Go to the Cashbook Payments journal for the Call Account and allocate the transfer to the Transfer Account. Then go to the Cashbook Receipts journal for the Main Bank Account and allocate the transfer to the Transfer Account. The Transfer Account will then be cleared to zero and the correct entries will be in both cashbooks.

[Tee]

Thank you so much fro your assistance Neville, in response to above i have not set up a cashbook journal for both, how do i go about it

[Neville Bailey]

Here are the steps to create a new cashbook.

After creating the general ledger account for a new cashbook, you need to do the following:

• Go to Setup...Entry Types
• Scroll down to the next available empty row
• In the "Description" column, type in CB* Payments (where * represents the cash book number)
• In the "DC" column, type in D
• In the "Account Access" column, click on the drop-down arrow and select "GL and Suppliers"
• In the "Date/Period Entry" column, leave the default setting (Period Defaults Date)
• In the "Cash Book" column, type in the cash book number, or click on the drop-down arrow and select the next available number
• In the "Currency" column, leave the default setting as "Home Currency" (unless you are using foreign currency)
• In the "Bank Account" column, type in the new general ledger account that you had previously created for this cash book
• On the next row, in the "Description" column, type in CB* Receipts (where * represents the cash book number)
• In the "DC" column, type in C
• In the "Account Access" column, click on the drop-down arrow and select "GL and Customers"
• In the "Date/Period Entry" column, leave the default setting (Period Defaults Date)
• Repeat the above steps for the other cash books that you wish to setup

Click on OK

[Tee]

Thank you sooo much Neville i really appreciate your assistance