Overview:

Bank Receipts are official records documenting the receipt of funds into a bank account. They are essential for tracking income, verifying transactions, and maintaining accurate financial records. These receipts typically include details such as the date of the transaction, reference number, bank name, nominal code, item/service description, amount before tax, and applicable VAT rate.

How To Process Bank Receipts in Zumzum Financials

1. Firstly go to the Bank tab.
2. Select Bank Receipts.
3. The Date will be set as today’s date, change this by selecting the field and choosing a date from the drop-down calendar.
4. Enter a reference in the Ref field, this is so you are able to easily identify the receipt.
5. Choose which Bank, from the drop-down menu, the receipt is in relation to.
6. In the N/C field enter the Nominal Code for the Nominal Account of the receipt.
7. In Details enter the name of the item or service that you are adding to the receipt
8. Now in the Amount field enter the price of this item, before tax.
9. Select the VAT rate to be applied to this single item.
10. Click Add to save this item to the receipt.
11. Repeat Step 3 –> Step 10 for each item on the receipt.
12. Finally to Save all the changes you have made select the Save button.

Learn more about cash management in Zumzum Financials.