Bank entry builds a transaction with origination in bank account (marked as Postable in Chart of Accounts).
- Receive Money: entries will appear as increasing bank balance – income
- Spend Money: entries will appear on reports as reducing bank balance – expenses
- Date – date of transaction. This date will be used for Cash and Accruals reports. Set by default to current date
- Bank Account – select Account to which the entire transaction will be posted
- Contact – select contact associated with this transaction, if any
- Transaction Memo – enter main details of transaction
- In-line Amount is:
- Gross – in-line Amount contains Tax; total transaction posted to Bank Account is Sum of Amount
- Net – in-line Amount is net of Tax; total transaction posted to Bank Account is Sum of Amount plus Sum of Tax Amount
- Show / hide columns: this feature allows you to enhance your reporting:
- Private Portion: each in-line entry can have Private Portion. This portion is deducted from the amount of in-line entry and posted to default Private Portion account (Owner Loan by default). Tax will not be calculated on this amount
- Vary / Manual Tax: you can edit tax amount for each in-line item
- Save & Post – finalise this transaction and include it in your financial reports. Transaction must pass validation first (or press Alt+S).
- Save as Draft – keep details of transaction in the system but don’t include in reports. No validation required. You can find this transaction later in Review Transactions form.
- Upon saving, a menu opens up, so you can select next step:
- New – start new Journal transaction
- Continue – stay on this page, e.g. to get report
- Add Files (see below)
- Dashboard – go back to Books Dashboard
- Delete – remove this transaction completely from Olivs
- Report – get a PDF report of this transaction.
- Files – add, view and remove supporting files to this transaction
- Add Account – add account to Chart of Accounts and use it in this transaction.
- Account – select account for this item. Search for account by typing number or part of name.
- Amount- enter in-line amount – positive or negative amounts
- Tax – select tax code for this entry
- Priv % – hidden by default – amount posted to account is reduced by portion of Private Amount that is posted to default account for Private Amount, as defined in Settings.
- Memo – enter in-line memo if any
- Review – mark this transaction to appear on ‘Review Transactions’ form
- Var Tax – hidden by default – selecting this value unlocks amount of tax for editing (below)
- Tax Amount – amount of tax, as calculated for this entry. To edit this value, select ‘Vary / Manual Tax’ on top and select ‘Var Tax’ on entry.
- Private Amount – hidden by default – presents amount posted to Private account as per Private percentage entered
- Site – assign the entry to Department Site for divisional reporting.
- Delete – remove this in-line entry.
Add items: click on the button below the grid or press Alt+N.
Press ‘Enter’ to get in or out of editing cell. If not editing, you can use keyboard arrow keys to move around the grid.
If transaction has in-line memo, it will appear first on reports. If in-line memo is empty, Transaction Memo is used.
Files: you can store supporting files for journals and other transactions. Each file can have a Description, to allow you to find the right file without opening each one.
Import from CSV
You can import in-line entries from CSV into the grid, and export existing entries to CSV. To do this, use the Import and Export buttons on the grid, above the headers, on the right-hand side.
Structure of import and export files are the same, so you can use exported file as a template to populate and import.
Export file is based on current grid. If you wish to export template with Tax Variation or Private Portion, select these to appear on the grid.
Imported file is allocated to columns by column name entered into first row of the file:
- Account – enter account number only
- Tax – enter Tax Code
- Review – Y means Yes, all other entries, including empty, mean No
- Site – enter Site Code
- Priv % – enter between 0.01 and 99.99
- Tax Var – must be Y for Tax Amount to be taken. Otherwise it will be calculated from the Amount
- Tax Amount – calculated if Tax Var not present, or not Y