Posting Receipt Entries
Receipt entries are transactions that have been received by Sacco and do not involve a member directly, these entries could be deposits to the Sacco these could be a membership application fee, which means that the deposit has been received by Sacco but does not affect the depositor as they are not regarded as a member until the application is approved, let look on how to post these entries to general ledgers.
1. Log in to the Wakandi Admin Panel.
2. From the side menu select Ledgers…
3. And on the dropdown menu select Transactions.
4. From here you can view a simple interface for posting all your general ledger transactions. Since we are posting general ledger transactions be sure General Ledgers is checked.
5. Now the general ledger fields should be visible, on the transaction type select Receipt.
6. Select the date that the transaction was made.
7. You can add the reference or receipt number from transaction receipt incase payment was made via direct channels for easier reconciliation.
8. Leave a short comment on what the transaction is about, this will also help during reconciling.
9. On the Transaction fields below, we will be selecting the ledgers that were affected by this transaction,
10. In the case of receipt entries means sacco has received, so from DR/CR field we will select the DR from the dropdown, to show one of our general ledgers has been debited.
11. Next, we will select the ledger that was debited from the accounts field, this could be bank or cash ledger.
12. You will be able to view the current balance of the ledger on available balance, from here we can enter the amount received on DR amount, as we are debiting the ledger selected, then click add button to save this entry.
13. Now another field will be visible, here we need to select the ledger that was credited, so we select CR.
14. Then on accounts we choose the ledger that was credited, an example could be the application fee ledger.
15. Since we are now crediting, we will enter the amount on the CR field to have a balanced entry, then click on add on button to save the entry.
16. Now confirm the transaction has balanced on the Debit and Credit fields and click on submit.
Done! You have successfully completed a general ledger transaction. A green pop notification will appear on the top left to let you know you have successfully posted an entry to general ledgers.
