Create a till takings bank account

1. Click Bank accounts then click New.
2. Complete the Bank Record window as follows:

   A/C Ref	Enter the nominal code you want to use for your new bank account, for example, 1206. If you use the Sage default nominal ledger, we recommend that you use a number within the range of 1200 to 1209. Sage Accounts uses this range for the existing bank accounts and your financial reports are already set up for these groupings.
   Nominal Name	Enter a description for this new bank account, for example, Till Takings.
   Balance	Displays the current book balance of the account. If you want to enter an opening balance for the bank account click OB and when prompted to save the record > Yes. Complete the Opening Balance Setup window as required > Save.
   Minimum Limit	If you don't want the balance of the account to fall below a certain value, enter the balance that you don't want this account to fall below. If the amount of money you have in this account goes below the amount specified here, the bank account appears in red in the Bank Accounts window.
   A/C Type	Choose the required type of account, for example, Cash Account.
   No Bank Reconciliation	If you don't want to complete regular bank reconciliations for this account, select this check box.

3. Click Save then click Close.

You've now created your new till takings bank account. You now need to create a new nominal code to record any till discrepancies. You should also check the Chart of Accounts to ensure that the new bank account is correctly included.

Create a till discrepancies nominal code

1. Click Nominal codes then click  New.
2. Complete the Nominal Record window as follows:
   

   N/C	Enter the number for the nominal code you want to create. This should be within the Overheads section of the Chart of Accounts. By default the Overheads range is 7000 - 9999.
   Name	Enter a name for the nominal code, for example, Till Discrepancies.

3. Click Save then click Close.

You've successfully created a nominal code to record any till discrepancies. You must now check the Chart of Accounts to ensure it is included in the Overheads section of the Profit and Loss. Read more >

Record receipts into till takings bank account

In this example, we're posting the day's takings from the till roll of £/€125 plus VAT, using the standard VAT tax code, which is T1 by default. If you have sales relating to different tax codes then you should total the value of sales by tax code then enter one receipt per tax code.

1. Click Bank accounts then click Bank receipt.
2. To record the day's receipts, enter the information in the Bank Receipts window , for example:
3. If the till roll shows a gross value for your sales that you need to split into the net and VAT amounts, enter the gross value into the Net box > Calc Net. Sage Accounts then splits the gross value into a net and VAT amount.
   
   

   Bank	Date	Ref	N/C	Details	Net	T/C	Tax
   1206	Date	Ref	Sales code, for example, 4000	Daily Takings	125.00	T1	VAT amount

   The standard tax code is used here as an example, please replace this with the tax code appropriate to your receipts.

4. Repeat steps 2 and 3 for any other till receipts you want to post.
   
   

   You have now posted the receipts to the till takings bank account.

5. 
   

   Click Save then click Close.

Record payments from till takings bank account

In this example, we're posting the day's expenses of £/€10 plus VAT. This is for stationery and is to be posted to nominal code 7504.

1. Click Bank accounts then click Bank payment.
2. To record the day's payments, enter the information in the Bank Payments window for example:

   Bank	Date	Ref	N/C	Details	Net	T/C	Tax
   1206	Date	Ref	Expense code, for example, 7504.	Stationery	10.00	T1	VAT amount

   The standard rate tax code is used here as an example, please replace this with the tax code appropriate to your payments.

3. Click Save then click Close.
4. Repeat steps 2 and 3 for any other expenses that have been paid from the till.

You have now posted the payments from the till takings bank account. The till takings bank account now shows the value of the money held in the cash register.

Record a shortfall of cash in the cash register

In this example there is a cash shortfall of £/€5.

1. Click Bank accounts then click Bank payment.
2. To record the day's shortfall, enter the information into the Bank Payments window, for example:

   Bank	Date	Ref	N/C	Details	Net	T/C	Tax
   1206	Date	Ref	8500	Discrepancy	5.00	T9	0.00

3. Click Save then click Close.

You've now corrected the cash shortfall.

Record a surplus of cash in the cash register

In this example there is a cash surplus of £/€10.

1. Click Bank accounts then click Bank receipt.
2. To record the day's surplus, enter the information into the Bank Receipts window, for example:

   Bank	Date	Ref	N/C	Details	Net	T/C	Tax
   1206	Date	Ref	8500	Discrepancy	10.00	T9	0.00

3. Click Save then click Close.

You've now corrected the cash surplus.

Transfer the balance from till takings bank account

1. Click Bank accounts then click Bank transfer.
2. Complete the Bank Transfer window as follows:

   Account from	Enter the bank account code you want to transfer the money from, for example, 1206.
   Account to	Enter the bank account code you want to transfer the money to, for example, 1200.
   Reference	Enter a reference for your transaction, if required, for example, this may be your paying in slip reference.
   Date	Enter the date for the transaction.
   Description	Enter the details for the transaction.
   Amount	Enter the amount you want to transfer.

3. Click Save then click Close.

You've now transferred the relevant amount from your Till Takings bank account to the required bank account.