From Wiki
Jump to: navigation, search
Name Cashbook Entry
Area IBA

See the NOVUS Walkthrough Guide for further information.

The cashbook is designed to allow easy reconciliation with bank statements. For this reason, the cashbook also accommodates non-IBA items such as charges, interest etc. which can be entered into the cashbook as Nominal Ledger (NL) items provided the Nominal Ledger module has been installed.

The IBA ledger has been designed to support technical entries based upon the policy and market configuration. Cash, on the other hand, is account-based rather than policy-based and hence is posted to a pseudo policy number ‘000000’ (no year or section). The CASHENTRY program is designed to accept either IBA or Nominal Ledger based cash.

If the Nominal Ledger module has been installed then please refer to the NL section for details of posting NL cash through the cashbook. If your system does not include the Nominal Ledger then the CASHENTRY program can only be used for IBA based cash.

Currently, cash must be allocated to a division but the cash matching program can be tuned to allow cross-division matching if required. Similarly, IBA account codes can be created for specified divisions or ‘ALL’. Cash entries (paid/received) can be made in batch or non-batch mode. Source currency cash amounts can be entered with the exchange rate to the banking currency. The transaction will be posted in the ledger in the banking/destination currency.

Batch Mode

The CASHENTRY program will operate in batch mode if the accounting amount on the first line is left blank. A message will be shown to this effect. In this mode of operation, the first line will comprise a ‘dummy’ line with the total of the batch recorded in the reconcile/total column. Batch mode only applies to a net debit amount. In batch mode, the amount to be reconciled can be set to zero but in this case, the program will operate as if in non-batch mode. The second and subsequent lines will be used to record the breakdown of the batch.

The program will disallow input into the reconcile/control column and a message will be displayed when the batch is complete i.e. when the sum of the accounting amounts equals the reconcile/control amount. In some cases, the order in which the batch is input may need to be regularised. For example, it would not be possible to have a set of accounting amounts comprising amounts of 200, 500, 100, -100 with a batch amount of 700 because the batch would be ‘complete’ at 700 after the first two entries.

Non-Batch mode

In this mode, each line is handled separately. In the simplest form, for each line, the amount to be reconciled is set to be the same as the accounting amount.

Optionally, the amount(s) to be reconciled can differ from the accounting amount. This is useful in providing a cross-check. For example, if the 5 cheques received on a particular day add up to 1000, then the first line could be, say, 200 accounting and 1000 reconcile and lines 2 to 5 might have accounting amounts 100, 300, 100, 300 all with null reconciled amounts. On committing the batch, any entry errors would be indicated because the sum of the accounting amounts would differ from the reconciled amount.

In non-batch mode, posting is prevented if the amount banked, original currency, and control amount are not identical.

Field name Description
Bank Enter the bank account code as set up in the bank maintenance program BANK. Press F9 for a LOV (list of values). The system shows the currency for this bank account, its balance and work in progress on the top right of the screen. The next available cheque number is also displayed.
AutoMatch Enter a 'Y' in this field to enable the use of the automatic matching facility. See below for the conditions for this to be successful
Issue Receipt Enter a 'Y' in this field to print receipts after the cash has been saved and if an issued receipt is required (for cash received lines only).
Accounting Date Enter the cash received/paid date for this batch. The date must fall into an unblocked (open) period. Postings cannot be made prior to the earliest open period. BLocked periods are sometimes referred to as ‘closed’ but a blocked period can be re-opened to allow for cash posting.
Cleared to Bank This field shows the current balance on the bank account.
Cashbook to Date The field shows the total of posted and reconciled amounts on this bank account.
Account Enter the IBA or NL account code (the Nominal Ledger module has been installed) as set up in the PARTNER program. Press F9 for a LOV (list of values). The short name of this account is displayed automatically in the account details/annotation field.
Pol/Tran Enter the policy number or transaction number to auto-populate the div and suff fields
Amount Banked If a batch entry is required, leave this field blank. This is the amount of the received or paid cheque. Received cheques are debits, paid cheques are credits.
Div Enter the division to which this piece of cash applies. The division must be contained in the division list for this account as set up in the PARTNER program. The specification of the correct division ensures that it is posted correctly to the nominal ledger (if applicable). Matching across divisions is not permitted.
Jnl If the account is an NL account you may optionally enter a suitable journal type. This could be useful in producing NL based reportage such as VAT reports where brokerage is not involved.
Suff This is the suffix for an IBA entry. Enter a ‘*’ for a client (debtor) entry or a ‘.’ for an insurer (the creditor) entry or ‘-‘ for a silent agent entry.
Account Details/Annotation You may use this field for annotation purposes in the cashbook. Changing this field will not affect the security record. This is a scrolling field for extra characters to be entered.
Cheque No You may use this to record the cheque number. This is likely to be more useful with cheques paid than cheques received. Leave this field blank if you plan to use the print cheques feature later.
Reconcile/Control This column contains the total of the current batch. If making more than one entry, only enter the total once – or enter the total on the go. It is not possible to [COMMIT] unless the sum of the ‘totals’ matches the sum of the entries.

Continue with further entries. When complete press [COMMIT] to complete this batch of entries.

AutoMatch If the AutoMatch field is set to 'Y' and there are one or more transactions that match the amount specified, a new window will pop up listing all the possible matching transactions. Choose the transaction to match by ticking the match check box (choose one only) and the cash entry will be auto-matched. AutoMatch respects taxes and fees. Validation will check a transaction for direct settlement records and where they are found auto-match will be prevented unless all insurers have been directly settled.

Cashentry 119L.JPG

The program assigns a transaction number to each entry in the batch apart from the batch header record if applicable.

If working in batch mode all records in this batch will be assigned the same folio number, otherwise, each line will be assigned a separate folio number.

The transaction number can be determined by revisiting the cashbook using the ECASH program and running a search on the relevant bank account.

IBA cash is aggregated into the period totals for the period, currency and division concerned, shown as either client, company or silent agent cash. The cash record is immediately available for matching.

NL cash is written to the nominal ledger using the transaction number as a batch number. The opposite side to the NL entry is the bank NL account.

Version History

v 6.1.0 – Updated to latest version

v 6.0.0 – Updated to latest version

v 5.2.0 – Updated to latest version

v 5.1.0 – Updated to latest version

v4.2.0 – Updated to latest version

V114L - Remove any values from the LOV on the account field if the suffices are null

V103P - Fixes a small bug when used in conjunction with INVU.

V102M- Allow 80 characters annotation - stored in IBA_TTL - for use in statements

V101K - Bank charges and bank transfers can be entered.

V98K - IBA revenue accounts excluded (eg XBK)

V97K - First version of this form to use the new style. No other updates except the restyle.

V96K - First version of this form to use the new style. No other updates except the restyle.