Cash and bank questions
The questions clients actually ask about banks, cheques and budgets. Each answer is short and ends with the page that goes further.
Does Businessflo import the bank statement and match it automatically?
No. There is no statement import or automatic matching. Clear cheques line by line on Bank Transactions, and post what is on the statement only on Bank Reconciliation.
Why does my cheque payment not hit the bank account straight away?
Because its payment method account has Bridging Posting: the payment posts to a clearing account, and the bank moves only when you clear it on Bank Transactions. See How do I clear a cheque?.
Can I clear a cheque without a clearing account?
Yes, if Allow Non-Bridge Bank Transaction is ticked on Account Payable Setting or Account Receivable Setting. The line then only marks the cheque cleared; nothing posts.
Can I clear several cheques on one document?
Yes. One line per cheque; the Origin Number lookup lets you pick several at once. Each line posts its own journal entry.
Can I clear a cheque in another currency?
The whole document has one Currency and Exchange Rate, and every line posts in it. The Origin Number lookup does not check the cheque's currency, so put foreign-currency cheques on a document in their own currency; the rate is looked up for the Posting Date when you pick the currency.
What happens to the cheque when I reverse the bank transaction?
The journal entries are reversed, but the payment line keeps its Cleared mark and date. The cheque is offered again on a new Bank Transaction. See How do I undo a bank transaction?.
Can I back-date a bank transaction?
Yes. The Transaction Journal must be valid on that date, and the date may not be before the date of the payment or collection being cleared.
Can I undo a bank reconciliation?
Not once it is Posted: the screen has no Reverse, and Edit and Delete are greyed. Keep it in Park until checked.
Does a bank deposit post?
No. Bank Deposit is a record of the slip. The money reaches the books through the Collection and Bank Transactions.
Does the letter of guarantee post the margin?
No. Letter of Guarantee is a register. Post the margin and charges on their own documents.
Does the system stop a guarantee or letter of credit over the bank limit?
No. The limits on Bank Facility Agreement are recorded only.
Which documents are checked against the budget?
Journal entries on save; purchase requisitions and purchase orders on release; vendor invoices on release, for invoices whose Journal Indicator is F. See General Ledger Account Budget.
How is the available budget worked out?
The period's budget amount, less what is posted to the account in that period, less what is committed but not posted. A budget line with dimensions counts only matching lines.
Can the budget warn instead of stopping?
Yes: Action Warn asks the user to confirm and lets the document through. Action Stop refuses it.
How do I stop spending in a month that is over?
Set that month's Period status to Closed on Budget Period. Every document dated in it is refused for budgeted accounts.
Do sales orders check the sales budget?
No. Sales Budget is a target, compared with sales in the lists.
Does the purchase budget stop purchases?
No. Purchase Budget is recorded only. Use the General Ledger Account Budget to stop spending.
Does carry forward move unused budget to the next period?
No. Carry forward and Carry forward Percentage are recorded only.
Can I have an original and a revised budget?
Yes, as two Budget Models. But the spending check does not choose a model: keep only one budget per account and period at a time.
If something looks wrong
| Message | Cause | Fix |
|---|---|---|
| Lines cannot be empty | A Bank Transactions document has no line | Add a line |
| Line ID: ... - Debit Account cannot be empty | A posting line has no debit account | Pick it |
| Line ID: ... - Credit Account cannot be empty | A posting line has no credit account | Pick it |
| Bank Transaction - Line ID: ... - Bank Transaction Type cannot be empty | Cash Bank Setting makes the type compulsory | Pick a Bank Transaction Type |
| Line ID: ... is duplicated with Line ID: ... | The same payment or collection line is on two lines | Remove one |
| ... Posting Date ... cannot be less than Posting Date ... of ... | The cheque was recorded after the date of this document or line | Use a later Posting Date |
| Reverse Date: ... cannot be less than Posting Date: ... | Reverse date before the posting date | Use a later Reverse Date |
| Date From cannot be greater than Date To. | Request for Letter of Guarantee period the wrong way round | Correct the dates |
| Budget Period - Date From cannot be greater than Date To | Budget Period header dates the wrong way round | Correct them |
| Budget Period - Line ID: ... - Line Dates are always in between Header Dates | A period line outside the header span | Correct the line dates |
| Period : ... - Line ID: ... is duplicated with Line ID: ... | Two period lines with one code | Give each its own code |
| ... - Period cannot be empty | A period line without a code | Fill Period |
| ... - Period Status cannot be empty | A period line without a status | Fill Period status |
| ... - Budget Period - Date From ... cannot be greater than Date To ... | A period line's dates the wrong way round | Correct them |
| Line ID: ... - Budget Period ... overlaps with Line ID: ... - Budget Period ... | One period inside another | Correct the dates |
| Budget Period cannot be empty | No code on Budget Period, or no Budget Period on a budget | Fill it |
| Name cannot be empty | Budget Period with no name | Fill it |
| Budget Period already exists | The code is used | Use another code |
| Budget Model cannot be empty | General ledger budget without a model | Pick one |
| Budget Lines Data cannot be Empty | A budget with no lines | Add lines |
| Line ID: ... - Account cannot be empty | A general ledger budget line with no account | Pick it |
| Line ID: ... Period is not defined. | The budget line has no period breakup | Add period lines to the Budget Period, then add the line again |
| Line ID: ... - ... should be equal to Total Amount defined in Period Breakup. | Period amounts do not add up to the line | Correct the breakup |
| Same General Ledger Account Budget - ... already exists | The budget code is used | Use another code |
| Exchange Rate Cannot be Zero | Purchase Budget without an exchange rate | Type it, 1 for local currency |
| Budget Quantity Cannot be Zero | A sales or purchase budget line with no quantity | Type a quantity above zero |
| Transaction Amount Cannot be Zero | A sales or purchase budget line with no amount | Type an amount above zero |
| No Budget Period Found | Sales Budget on a Budget Period without period lines | Add the periods |
| Line ID: ... - Account ... exceeds budget funds available by ... for period ... of Ledger Budget ... | On a journal, requisition, order or vendor invoice: over a budget with Action Stop | Raise or move budget, or reduce the document |
| Line ID: ... - Account ... - Budget is now closed for period ... of Ledger Budget ... | The period is Closed on the Budget Period | Reopen the period, or date the document in an open one |
| Line ID: ... - Account ... - Budget is now closed for Ledger Budget ... | The budget line's Budget Status is Closed | Reopen it |
A code or number already used on Bank Accounts, Letter of Guarantee, Letter of Credit, Request for Letter of Guarantee, Budget Model, Budget Group, Sales Budget, Purchase Budget, Cash Bank Setting or Budget Setting is refused as a duplicate.