Every company makes transactions daily. A cash flow is a cash log that represents a timeline with all financial movements, cash and cashless operations, payments, debts, credits, and their settlements. Below let’s see it all in greater detail starting with cashboxes.
You may create as many cashboxes as necessary to fit your business and accounting needs.
For instance, arranging cashboxes by payment method, “Cash” and “Cashless” operations, type of spending, and any other purpose (rent, utility, or other operational expenses at your company, etc.).
Creating new cashboxes
Navigate to “Finance > Payments” to create a new cashbox.
1. Hit the “+ Add cashbox” button.
2. Fill in the cashbox title and select the type.
Company cashbox is a global cashbox of your company available for all business locations, featured with a globe icon.
Company cashbox is commonly used when there is a single bank account for all business locations. In the case, for example, two locations are using a single bank account, it makes sense to create a company cashbox and give user access only to the corresponding employees.
Location cashbox is a location-based cashbox available for a selected business location.
To manage a cashbox separately (when all related payments are not displayed in your general Finance reporting), check the “Virtual cashbox” checkbox.
Note: Virtual cashboxes can not be used for financial accounting purposes.
3. To set the payment option, make a selection between Cash and Cashless.
A selected payment option prompts a list of available cashboxes that will be displayed when making transactions. If you select cash payments, only relevant cashboxes for transactions in cash will be shown. And vice versa.
4. Click "Include transaction fees" to automatically deduct a fixed amount from the cash register balance for payments to and from the cash register.
Select the type of transaction fee: Income fee or Expense fee.
Specify a fixed fee in percentage or currency.
You can add up to 4 commission conditions.
Each specified commission is calculated from the full amount of the payment and summed up with the others. That is, for each payment, there will be only one charge of the fee, which will be reflected as an expense in the "Transaction processing services" cash flow item with the corresponding comment "Transaction processing fee".
For instance, if you have a non-cash register that processes payments via a bank terminal, you can set a 2% fee. So, when processing a payment of €110 for an order or sale, a 2.2 euro fee will automatically be recorded against the cash register balance. Similarly, if you have a cash register for cash collection, you can set a fixed expense fee of €10. No matter the expense amount, a €10 fee will be recorded.
To delete the created fee, move the cursor over it and click on the trash can.
5. Specify the allowed actions for this cashbox.
Please note that this setting is available in Business and Enterprise plans. Learn more about setting up and using the allowed actions with cashboxes in this article.
6. Grant access to employees.
To do this, go to the “Access” tab. Here you will see a table with all active employees.
In the Business plan, you can configure employees' access to cashboxes. That is, you can allow employees to perform all operations specified on the “General” tab or set up individual access for each employee to the same cashbox. Read more about how to configure the settings in this article.
7. Click Save.
Editing cashbox
Hover over the cashbox bar and click the gear icon in the upper right corner to edit the selected cashbox. Enter the needed changes and hit the “Save” button to confirm.
Removing cashboxes
Open the cashbox dialog window (the same process as for editing) and click the bin icon to remove the selected cashbox.
Remember: You can only remove an empty cashbox. Create expenses to zero out the cashbox before removing it.
Deleted cashboxes can be restored in the Activity Log report.
To do this, generate a report for the “Cashbox deleted” event. Find the deleted cashbox and click Restore.
Positioning cashboxes
RemOnline sorts your cashboxes list by ascending name by default. Reorder this list the way you need by dragging the cashbox bar to the desired position.
Transaction types
There are several cashbox transaction types in RemOnline:
Order payment is an automatic income transaction generated upon receiving full payment for Order
Prepayment for Order is an automatic income transaction generated upon receiving a prepayment for Order
Refunds on order is an automatic expense transaction generated upon paying off to a client by Order
Order overpayment return is an automatic expense transaction generated upon returning a part of prepayment over Order total back to a client
Sale payment is an automatic income transaction generated upon receiving payment for Sale
Return payment is an automatic expense transaction generated upon Order / Sale return to a client
Products posting is an automatic expense transaction generated upon posting, works only when the “Pay from cashbox” checkbox is checked
Supplier refund is an automatic income transaction generated upon a supplier’s payment, works only when the “Cashbox deposit” checkbox is checked
+ Income is a manual income transaction generated with the “+ Income” button for receiving other payments
- Expense is a manual expense transaction generated with the “- Expense” button for making other payments
Transferring is a manual transaction that triggers a pair of automatic transactions (income and expense) generated for two different cashboxes upon making a selection.
You can tag your income and expense for more convenient search and associating transactions with corresponding cash flow items. Go to the “Settings > Finance > Accounting” page and enable cash flow accounting. You can also add custom cash flow items on this page.
RemOnline allows you to add the income and expense transactions retroactively. The system marks these entries with the “❗” icon. You can see the actual transaction date by hovering over the entry. RemOnline allows you to manage employee permissions for adding transactions retroactively.
Cashbox report
The Cashbox Report displays all cash flow events of the selected cashbox for the specified period.
Cashbox Report contains responsible employee name, date and time, comment, transaction type, and cashbox balance columns.
Print your Cashbox Report dataset or export it to the Excel file right in the RemOnline app.
Removing and restoring transactions
Remove all unnecessary transactions by double-clicking the transaction and hitting the bin icon. You'll see the transaction data is strikethrough now meaning it's removed. Transaction removal impacts the cashbox balance.
RemOnline enables you to cancel the removal operation. Double-click the removed transaction and press the “Restore” button. This action impacts the cashbox balance as well.
Note: While the cashbox balance changes upon transaction removing and restoring, transaction field “Balance” stays the same. This field represents the original cashbox balance at the time your employee made the transaction.
