GOROKA TECHNICAL COLLEGE

Computerised Accounting Systems

LESSON TWENTY

On completion of this unit you should be able to:

a) Confirm receipts in the transaction journal.

b) Record receipts of cash from other sources.

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Confirming receipts
Follow these steps:
1) Click the Transaction journal button.
2) Enter the date range 1/4/98 – 30/04/98.
3) Click the Receipts tab. Each entry shows you the increase in the cheque account and
corresponding decrease in the debtor’s (customer’s) outstanding balance.
4) Click the zoom arrow next to the receipt just processed. Notice that the invoice is now
closed.
5) Click Ok.
6) Click Close to return to the commend centre. Later in the month these entries will be
reconciled with the bank statement.

Recording other cash receipts

A business may receive cash from a number of other sources. For example, the owner might contribute
more cash, an asset might be sold for cash, a loan might be taken out, cash received from a transaction
not related to the normal trading of the business. Henry’s father has offered K8,000 to buy a new
colour matching computer. Follow the steps below record the receipt.

Follow these steps:

1) At the Banking commend centre click money received icon.

2) The Receive Money dialog window will appear.
3) Click in the Date field, key 2/4/98.
4) Click the amount received box.
5) Key 8000 and press TAB.

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 6) Select cheque for payment method.
7) Click the Memo field.
8) Key Loan from Dad (No interest, pay back when possible) and press TAB.
9) Key 2 and press TAB to see a list of liability accounts available.
10) Key 2-2500, click the New icon and press TAB.
11) Key Loan-Dad in the Account Name field and click Ok.
12) Select the new Loan-Dad account as the allocation account. MYOB completes the entry.
Your screen should look like figure 5.30.

Fig: 5.30 Received money dialog box

Activity 5.12
Record the other cash receipts from customers for April:
a) 2nd April, Pro Paint: K1,213.50 (after giving a discount of K24 by keying 24 in the
discount column) for invoice no.2.
b) 5th April, Sydney Paint Shop: K109.34 (after giving a discount of K2.20 as calculated
by MYOB) for invoice no.3.
c) 19th April, Pro Paint: K100 part payment for invoice no.6. Key Part Payment in the
memo field.
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Reference:
Keeping Account with MYOB by Cathy Grundy & Doug Lyte.