Cash Day Book

Cash Day Book

The Cash Daybook is selected from the Financial menu on the t3 shell window and shows a table of all recent payments which have been entered into the system. The payments will have been entered against bookings, sundry sales, vouchers, through the mail list (travel club payments) or via the agent batch payment system. All these payments have to be reconciled on a regular basis, ideally immediately prior to the payments being banked. 

In short, reconciliation is the process of balancing the recorded payments with the actual monies waiting to be banked. The reality it can be a bit more complex as there are many payment types which need to be considered, including :
  1. Cash.
  2. Cheques.
  3. Card payments which have been manually processed through a terminal.
  4. Automated card payments taken through t3 or Webres.
  5. Direct bank transfer.
  6. Credit Notes.
  7. Gift vouchers purchased by customers then redeemed against bookings.
  8. Compensation vouchers redeemed against bookings.
The payments can be for
  1. Tours and excursions.
  2. Travel insurance.
  3. Travel Club membership fees.
  4. Credit and Debit card handling fees.

The Cash Daybook allows the processing of payments in real-time, while other users are taking more payments, and it produces an Audit Trail report and banking summary records. In addition to the printed
output, the reconciled cash daybook transactions are saved to a payment history file and the banking summaries are sent to an Accounts Link file for optional posting into an external accounts system.



The function of the window controls are listed below

Controls
​
List Sort Order
Order Select the sort order from the drop down list - Cashbook (payment date), booking (booking reference number), User (user reference).
Agency Filter
Filters transactions for the Company (Head Office) or for any travel agents set to use the Memo Cash Option - ie., take payments from clients on behalf of the company.
Transaction
List List of all payments waiting to be reconciled and banked. The column contents are:
  1. Date - Date of payment
  2. Reference - Booking reference or agent reference for batch payments.
  3. Customer - Lead client or agent name.
  4. User - Reference of the user who entered the payment.
  5. Cash - cash payment.
  6. Cheque - cheque payment.
  7. Card - Debit or credit card.
  8. Transfer - Bank transfer, BACS etc
  9. Suspense - Items with a value to the company but are not legal tender and can't be banked. This includes credit notes, vouchers, errors and corrections.
  10. TOMS - Checked for tours set up as margin VAT-able.
  11. Refund - Payment set to be a refund - sub-grouped in cash daybook report.
  12. Tagged - indicates payment has been selected for printing and is included in the batch tagged totals.
User Ref
Initials of the currently logged in user who is performing the reconciliation.
Batch Tagged Totals
The sum of each payment type: Cash, Cheque, Card (Debit and Credit), Transfer (bank transfers) and Suspense. This includes credit notes, vouchers, errors and corrections.
Edit (button)
Same as right-clicking an item in the list - opens up the payment window and allows the transaction date, payment type and narrative to be amended. Note that changes here are recorded in the system audit log. Payment values cannot be altered.
Criteria (button)
Opens a filter dialog to enable transactions to be tagged or untagged, either all items or those falling in a date range.

The check boxes allow further filtering of Margin Scheme items and Refunds.
Print (button)
Print the Cashbook - a preview is seen first and this should be printed for the Audit Trail prior to posting. Once the printout is correct and safely printed, post the Cashbook.

Note: The Cash daybook window closes after the posting run is finished.
Close
Close the Cash Daybook window.


Reconciling the Cash Daybook

The task of reconciling payments involves checking each item in turn against the physical payment (cheques, cash amounts, voucher etc) and tagging it to sum the value of that particular payment type. Items are tagged by double clicking on them in the payments list. As each payment is tagged, its value will be added to the Tagged Batch Totals at the foot of the page. Double-clicking a tagged entry will untags it.

Instead of reconciling each item individually, the Criteria feature can be used for batch tagging or untagging of payments. The criteria window shown above allows for easy selection of multiple entries.

Payments can also be edited, should this ever be required, by highlighting in the list then then right clicking. This is however limited to changing dates and amending payment types, payment values cannot be amended. If a payment has been entered with an incorrect value then a fresh payment of equal value but with the opposite sign has to be entered to cancel the erroneous item. It is a good idea to move the erroneous payment and it's correction into the Suspense payment column and to add a narrative to explain the error.

It is good practice to always ensure that all non-bankable items are kept in the suspense column, this way
they should ideally balance off to zero and will have no effect on the banked totals.

Printing and Posting
Once the Cash Daybook has been reconciled it should be printed. Once the printed copy is safely on paper and checked it can then be posted, the window shown below will be displayed and provides the user an opportunity to a halt if any discrepancies are noted.



On clicking the Yes button the Cash Daybook Update window, shown below, this provides a mechanism to log the action and also a final chance to halt the process.



On clicking confirm t3 copies the payments to the history files (allowing the payment history to be viewed from within a booking).
The batch totals are converted into a Journal and saved to the Accounts Link and the internal system batch number register is incremented ready for the next cashbook posting.
The cash daybook window is closed automatically when a posting is completed.

IMPORTANT: The Cash Daybook Report is part of the company's Financial Audit Trail and EVERY report must be filed securely in sequential numeric order.

If you have any other questions about the above, please do not hesitate to contact our support team, who will be happy to help.

Opening Hours
Mon-Thu - 0900 - 1730
Friday       - 0900 - 1700
T: 01302 841333



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