How to record cash out amount in settlement?

TamNguyen
TamNguyen Member Posts: 48
edited April 2020 in Reckon Accounts (Desktop)
Reckon POS 2015
Hi guys,

I have trouble recording cash out amount in bank settlement and I have no idea what to do. From my understanding cash out amount should not be treated as income, so what account should I put it in? It is going back to the bank account anyway isn't it? 
image
 Please give me an example with this settlement statement. 
Many thanks

Comments

  • Fred_7639421
    Fred_7639421 Member Posts: 37 ✭✭
    edited November 2017

    Split the transaction i.e.

    In your Bank a/c a Total payment $1171.50 then split

    1) Category, Liquor or whatever you are using as this Category

    2) Transfer $200.00 to whatever you are using for daily living (I use Cash)


  • st_6872571
    st_6872571 Member Posts: 79
    edited June 2018
    Don't we all have Cash accounts.   Anyway, Fred's right, split the transaction.
  • TamNguyen
    TamNguyen Member Posts: 48
    edited September 2015
    Hi Mr Fred, I still couldn't get it :( You mean (1) I am going to list of account then go to bank, then credit bank for $1171.50 then split to two accounts. One should be income account like cash sale and other should be bank? Or cash account? (2)Or do I do sale receive? Then ring up customer as cash sale then split to two other items? It doesn't seem right this way :( (3) Or make deposit then split in two account (a) income as cash sale and (b) cash account. Then I have a complete vague understanding of this cash account. :( my head just blow away :(
  • TamNguyen
    TamNguyen Member Posts: 48
    edited September 2015
    Thank you all gentlemen for helping me out. Much appreciated.
  • Janos
    Janos Member Posts: 30
    edited April 2016

    Wait a moment.

    It appears to me that Tam is running a business. People pay him by Debit Card. He records all payments received as income.

    However...

    Some customers asked for cash out as part of the purchase. He gives the customer the cash and he has to make an adjustment because not all payments received are income.

    Is that the correct assumption Tam?

    Janos


  • TamNguyen
    TamNguyen Member Posts: 48
    edited September 2015
    That is correct Janos.
  • TamNguyen
    TamNguyen Member Posts: 48
    edited December 2016
    I am sorry to inform you that I have no idea. That print out is end of day sale that I received from the pub. I am only working with the number. I will try to ask that for you and if I remember she done it with eftpos machine by pressing enter then 6 or something like that. Then print out report in eftpos at end of night it should appear like that. I will double check for you.
  • TamNguyen
    TamNguyen Member Posts: 48
    edited September 2015
    I have no idea what you mean by post transaction file into Reckon. Do you mean recording the figure from the print out paper to reckon pos? I don't have access to the file at the pub and the pub is like 600km away from where I work. It just show that it is 200 cash out. 
  • Rod_7542780
    Rod_7542780 Member Posts: 7
    edited December 2016
    Hi Gving the money to the customer is like depositing in the bank. Dont worry about it. Post your sales from the till strip, and debit the bank the eftpos amount will be in the credit card deposit from the bank. the cash you take to the bank will be less.
    not a problem