You can record financial events against ledgers using the "Process a Transaction" function. These transactions will not directly influence loans but can affect the debtors account. The system operates as a Double-Entry bookkeeping system.

Navigation: General Ledger > Process Transaction > Process a Transaction

Transaction Details

• Branch: Select the branch where you want to record or create the transaction.

• Financial Event: Select the specific event from the list. These events must be pre-configured by the GSA or Accountant. Only events linked to the currently logged-in cash box will be displayed.

• Transaction Date: Enter the date on which the transaction occurred. This will be the transaction date recorded on the ledger for this event. Click the Select button to use the calendar.

  • Processing in Previous Periods: If you need to process a transaction in a previous period, your user role must have the necessary access.

    • Process a Transaction in All Periods: Enable this role setting under Setup > Security > General Ledger: Record in All Periods.

    • Process a Transaction in Current and Previous Periods: Enable this role setting under Setup > Security > General Ledger: Record in Current and Previous Periods.

    • Process a Transaction in Current Periods: Enable this role setting under Setup > Security > General Ledger: Record in Current Periods.

• Transaction Reference Number: Enter a reference for this transaction. If "Auto Increase" appears in the field, the system will automatically assign a reference number.

• Transaction Description: Enter a description of the transaction. The system will automatically populate a description based on the selected financial event.

Debit Ledger (Dr. Nominal Account Number)

• Dr Nominal Account Number: This field indicates which ledger account will be debited. The system will automatically select this ledger based on the financial event's setup.

• Dr Client Search: If the "Dr Nominal Account" is the Client Control Account, you can search for a client by their client number or their first name along with their surname. Enter the details and click the Search button. The client will then be displayed in the "Dr Subsidiary Account Number" field.

• Dr Subsidiary Account Number: The sub-ledger will be automatically displayed according to the event setup. Click the down arrow to view available sub-ledgers. If working with the Client Control Account, use the "Dr Client Search" to find the desired client.

Credit Ledger (Cr. Nominal Account Number)

• Cr Nominal Account Number: This field indicates which ledger account will be credited. The system will automatically display this ledger based on the financial event's setup.

• Cr Subsidiary Account Number: The sub-ledger will be automatically displayed according to the event setup. If working with the Client Control Account, use the "Cr Client Search" to find the desired client.

Transaction Amount and VAT

• Print Transaction: Select this checkbox if you want the system to print the transaction information (Transaction Description, Transaction Date, Reference Number, Debit Account Description, Credit Account Description, Amount, VAT Amount, and Total).

• Amount Excl. VAT: Enter the transaction amount excluding VAT. If you enter this value, the system will automatically calculate the "VAT Amount" and "Amount Incl. VAT."

  • To reverse an accounting transaction, enter a negative amount, and the system will record a reversal entry.

• VAT Amount: The system will automatically calculate the VAT amount based on:

  • "Amount Excl. VAT" or "Amount Incl. VAT."

  • The VAT percentage defined in Setup > Accounting > General.

  • The VAT selection on the Ledger in Setup > Accounting > Financial Ledger. (The VAT input/output sub-ledger will be affected based on this selection.)

  • The VAT selection on the Event in Setup > Accounting > Financial Events. (The event must be activated for VAT to be posted.)

• Amount Incl. VAT: Enter the transaction amount including VAT. If you enter this value, the system will automatically calculate the "VAT Amount" and "Amount Excluding VAT."

Actions

• Cancel: Click this button if you do not want to store any of the information.

• Finish: Click this button to record the transaction information on the General Ledger Accounts and return to the main page.