LILAC Document Help

Finalise EFTPOS

Use this function to assit in the bank reconciliation process.

Each cheque received from a debtor is processed individually with comprehensive open-item "tick-off" of invoices automated by the Debtors Receipt program. Each cheque is reflected as a credit to the appropriate debtors account, and a corresponding debit is posted to the BALANCE DEPOSITS EFT account for each point of sale. At the end of the days banking the Bank EFTPOS Report is printed out and used as a listing for reconciliation purposes.

The purpose of the Finalise EFTPOS function is to create a debit on the BALANCE CASH AT BANK account and a credit on the BALANCE DEPOSITS EFT account such that the DEPOSITS EFT account is reduced to zero and there is a single entry on the CASH AT BANK account reflecting the day's banking.

Select the bank account to which you want to debit the total deposit.

Click the 'Finalise' button to proceed. This will generate a figure in the 'Value Posted' field.

Debtor Finalise EFTPOS

Purpose: This document is used in conjunction with the Debtors Receipt document.

Each cheque received from a debtor is processed individually with comprehensive open-item "tick-off" of invoices automated by the Debtors Receipt program. Each cheque is reflected as a credit to the appropriate debtors account, and a corresponding debit is posted to the BALANCE DEPOSITS EFT account for each point of sale. At the end of the days banking the Bank EFTPOS Report is printed out and used as a listing for reconciliation purposes.

The purpose of the Finalise EFTPOS function is to create a debit on the BALANCE CASH AT BANK account and a credit on the BALANCE DEPOSITS EFT account such that the DEPOSITS EFT account is reduced to zero and there is a single entry on the CASH AT BANK account reflecting the day's banking.

Prerequisites: The debtors account must have been opened, and presumably has some invoices to pay. The CASH AT BANK and DEPOSITS EFT accounts are automatically created by the software at start up time.

Additional bank accounts may be created as required and will be administered separately using sub-accounts on the DEPOSITS EFT account. Foreign currency accounts are also supported and automatically administered.


User: This field will automatically be updated with the username of the operator. Although the user specified in the field can be changed, you should not change it.
Bank Account: Type in the General Ledger Account where this value is to be posted. This field defaults to the Cash at Bank account, but can be changed to support multiple bank accounts.
Working Date: This field defaults to today’s date.
Value Posted: This field will automatically be updated upon clicking the Finalise button with the left mouse button. The Value Posted will show the amount deposited into the Bank Account as a lump sum. The lump sum amount posted is the year to date balance of the Deposits EFT account.


Transaction Processing Button Description:
Finalise: Clicking the Finalise button will update the Value Posted field, and post a credit to the Deposits EFT account and a debit to the Bank Account.

From Here: Print out a Bank EFTPOS Report to use as a listing for reconciliation purposes.