Cheque to Cash Transactions
Some clients wish to buy higher amounts of currency and may wish to pay with a cheque rather than cash.
The following steps will show you how to process cheque transactions.
- To receive a cheque start by signing into the client's account in a new invoice by typing their name beside the 'Customer' box then hitting <*> on your keyboard.
- The following pop up window will appear where you can find the customer profile you are looking for.
Select the customer by clicking on their name then hitting 'Pick Customer'.
- *Note by clicking the 'XChk' button below the 'Customer' box in the invoice window you can update the check against the multiple sanctions list on previously added customers.
- Next to the 'Buy/Sell' box type 'Received' to receive the cheque.
- Select 'Cheque' as method of payment from the drop down menu by the 'Method' box.
- Then indicate the bank account this cheque will be deposited into in the next box.
*Note you will have to have previously added the bank account in order for it to appear in the drop down menu (see 'Adding Bank Accounts' in 'Adding Essential Accounts' chapter for further instruction).
- Enter the 'Amount' in the cheque and be sure to select the correct currency.
- Then hit <*> on your keyboard and continue to complete the cheque entry.
Complete the cheque entry
- You will be directed to a pop up window where you can view the balance in your bank account (including the current cheque entry) as well as clear cheques.
- Double check the issue date in the 'Date of Issue' field.
- Input the cheque number in the 'Cheque No' field.
- Double check the cheque due date in the 'Due Date of Cheque' field.
- Select the cheque type in the 'Type of Cheque' field.
- Double check the cheque amount in the 'Amount' field.
- Input the beneficiary in the 'Pay to (Beneficiary)' field.
- Select the cheque's issuing bank from a bank list triggered when you click on the 'Issuing Bank' field.
- Input the bank you are depositing the cheque into under 'Bank to Deposit into'.
- Click 'Save' once finished.