The Daily Audit Report is your main report used to balance you books and cash drawer. It consist of 5 reports in 1 and they all self balance. We track Month to Date and Period to Date on the same pages. Period to Date includes the last time you balanced to today when you balance again.
Sales Journal gives you an actual audit trail on every transaction. We track Written Sales and Delivered sales completely separate. The center 3 columns are control accounts for sales and money on deposit.
Customer Payment Journal records an exact audit trail of every payment taken from customers, including new sales, payment on account, CODs, etc. Installment Module Customer Payments are listed separately in this report.
Petty Cash Journal shows all misc. cash entries such as paid outs for gas or oil, or to send someone to get parts from a hardware store, for example. Cash In is shown separately.
Cash Management Page is a summary of how all money came in, broken down by payment type, how all your bank deposits were made, and shows if your cash drawer is over or short.
General Ledger Transfer Summary adds up every entry on the prior pages by account number and balances to a 0 like a spreadsheet.
To balance the books daily, first make up your bank deposits for the day and enter any bank deposits through Cash Drawer Entries: Misc. Cash Out Bank, Deposits.
To run, click on Order, Reports, Daily Audit Report. The following form appears with blank boxes.
The Ending Date will default to the current date. Leave it there. Set the Starting Date for the date you balanced last. The Cash in Drawer amount is the amount of cash left in the drawer after the bank deposits are made. The Prior Period Cash is the amount of cash in the drawer the last time you balanced.
Note: On the first of the month, you make one entry through Cash Drawer Entries. This is the beginning cash left over in the drawer on the first of the month after the month end deposits are made. Enter the Cash In drop down, click on Beginning Cash, enter the amount of cash in the drawer and post this amount.
Next, choose either Print or Print Preview. Print will print the report on the default printer, Print Preview will show the report on screen. For help with the Print Preview function, see the Print Preview help page.
Tip: At the end of the month, enter the full range of the month (i.e.: 02/01/2002 to 02/28/2002) to print a full consolidated report for that entire month. Destroy any interim reports.
Understanding the Report: If you select Detail on the form, you will get all the subcategories of the Audit Report. You will see on each category at the top, the prior period balance. This is from the first of the month to 08/24/2004. The body of the section are all the transactions between 08/24/2004 and 08/25/2004 which is the period selected. Finally, on each section, you see the total Month To Date figures.
If you had clicked on Summary, the Audit Report would show only the final 2 sections which are the most important sections; Cash Management and General Ledger Transfer Reports. They are the reports needed to check for balancing the books.
Cash Management. This shows, on one page a summary of all you money for the Period to Date and Month to Date. The report starts with the Beginning Cash figure, Adds up all the customer deposits, broken down by Cash, Check etc. Adds any miscellaneous receipts. Subtracts all the bank deposits. Subtracts any Petty Cash expenses. Computes if you are cash over or cash short in the drawer. This report should always zero out like a spread sheet.
General Ledger Transfer Summary. This shows, on one page, every transaction by account number for the Period to Date and Month to Date. This must zero out like a spread sheet each time you run the report.
The Daily Audit Report completely eliminates the need for any manual journals.