This article is a guide for the processing/posting of Receipts from the Batch Transactions Module.
The Receipt batch type allows for capturing receipts from bank statements or source documents if receipt requisitions were not used.
Law Society Rule
13.13.1 All money received by the firm on account of any person is deposited in its trust banking account on the date of its receipt or the first banking day following its receipt, on which it might reasonably be expected that it would be banked.
| Always use the date from the bank statement when the actual receipt was made. This is very important for debt recovery and interest calculations. |
| For split receipts, use the split receipt option to post one transaction to the bank and different legs to the credit accounts |
| Receipts can also be bulk imported |
Batch Transactions - Receipts
Fields and Descriptions
| Field | Description | |
| 1 | Description | Enter the batch description |
| 2 | Type | Select Receipts as the batch type. |
| 3 | Batch Amount | Enter the batch total amount This can also be done after all batch items were captured and before posting. |
| 4 | Receipt Type | Select the bank type, either Trust or Business, and if you have multiple bank accounts, select the relevant bank from the dropdown list. Only one Bank Account is allowed per batch. |
| 5 | Posting Code | Select a Posting Code as a quick start to your narration. |
| 6 | Post Date | Enter the post date. Always use the date from the source document or bank statement. |
| 7 | Debit Account | Enter the account number that needs to be debited |
| 8 | Credit Account | Enter the account number that needs to be credited |
| 9 | Narration | Enter the narration to display on the Transaction History, Statement of Account and Bank Reconciliation |
| 10 | Reference | Enter the reference number |
| 11 | Amount | Enter the Amount |
| 12 | Reserve Amount | If money needs to be added to the reserve trust, enter the amount here |
| 13 | Save Batch Item | Click on Save Batch Item to save the entry |
Follow this process until all your receipts are captured. Match your Batch Amount, and you can save or Post your batch. Saving will only save your batch to the Overview screen. Post will affect your financial balances and create a reconcilable item on your bank recon.