Every cash desk can be associated to a default currency and, in case, to a default operator, so that they could be automatically proposed at the opening of the cash session, based on the used Mago.net login.
Opening cash session
On opening the cash session, the operator can verify that the cash balances and can start recording all the debit and credit transactions using the special functions.
Working cash session
The operator does not need to know accounting principles, such as credit and debit, to use the cash session data-entry. Every kind of transaction is assigned to a specific button: money transfer in, money transfer out, advance/collection from customer, advance/payment to supplier, advance for expenses and expenses/income.
If you make a mistake it is not possible to modify but only to reverse the transaction using the specific button. The progressive balance is displayed in every row, related to the transaction recorded, and initial and final cash balances are always under control.
Closing cash session
It is possible to insert new transactions in the cash session until the accountant decides to close it and cash up. Suitable reports are available to check data before cashing up.
Collection and payment transactions are linked to scheduled payments. Payables and receivables are immediately updated by the cash clearing.
Cash session posting procedures let you automatically generate the accounting entries.
Cash accounting posting
General ledger entry automatically generated