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MySF Administrator
Group: Administrators
Last Login: 29/01/2012 4:16:49 PM
Posts: 208,
Visits: 958
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When entering payments and receipts there are a number of important things to remember.
1. Use the Memo box
Get into the habit of using the memo box in the top right of the screen to record information about the transaction. eg ANZ Dividend, or Rent from Fred Smith. The Memo appears in the Transaction reporter and if you have entered meaningful text, locating a transaction is made much easier.
2. Record transaction against the Asset or MemberWhen recording Line items make sure you use the Member and Asset drop down boxes to record against either a member or an asset. If it is a Dividend for example select the Company share code from the asset list. If it is a contribution or a members expense then select the member. This is in addition to what ever account you choose from the GL. The Asset and the Member fields are what are used to determine the Yield in the Analysis reporting. If you leave these out then the Yield reporting will not include either the receipt or payment amount in the calcultation.
Click on this link to see what the screen should look like www.mysf.com.au/pdf/cashrec.jpg
3. Which Account to use
Remember that you are recording on behalf of the Fund, and Cash Receipts of items such as Contributions or ETP Roll In are in fact Income to the Fund. So in the GL you should be looking at the Income accounts and selecting the appropriate account. Transactions are very rarely posted directly against Members Equity accounts. The year end processing of MySF will set the Income and Expense accounts to zero and move any items which are related to a member into the Members Equity accounts.
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