How can I show income the day money was collected?

This article explains what to do if you want to show money recorded as income on the day it was collected, but not yet banked. This includes (though isn't limited to) churches counting their Sunday offerings which won't be banked until the bank opens in the week.

This article suggests using a Petty Cash account. To help you better understand the Petty Cash module as a whole please visit the module overview page here.

Step 1: Set up a new Petty Cash account for your collections

To do this, head to your system settings screen and choose Bank, Petty Cash & Payment Processor Accounts, then under Petty Cash accounts, choose Add Petty Cash Account. In the pop up that appears, give your new Petty Cash account a clear and unique name, and add access for any ExpensePlus users who will need it.

Click Submit to create your new Petty Cash account. You'll now see it listed in the Petty Cash module in ExpensePlus.

Step 2: On the day of the collection, record Petty Cash income to your new account

This is done using the Record Petty Cash Income option on the Petty Cash screen.

There is more information on how to do this in this help guide article.

Step 3: Deposit your Petty Cash into your bank account

When you then take the cash to the bank, you'll need to record the bank transaction which relates to this. There are two ways of recording this:

Option 1: via a Bank Deposit

This is the best way to record the Petty Cash deposit if it is being banked with cash and/or cheques from other sources. In this instance, you are preparing a bank deposit which will be later taken to the bank.

From the Bank Deposits screen, select Record New Bank Deposit

Record your other income as usual, then add a line under the bottom option, Plus Cash Added from Petty Cash / Till System. Select your Petty Cash account and enter the amount you are transferring from the Petty Cash account to the bank account (which may or may not be the same amount as your Sunday collection - that's fine).

This bank deposit will then appear on the bank matching screen ready for bank matching when you upload your bank statement.

Option 2: via the Bank Matching screen

This is the quickest way to record the Petty Cash deposit if it's the only cash relating to the bank transaction. In this instance, you have already deposited a sum of money from your Petty Cash account into your bank account and this has not been recorded on ExpensePlus.

When you upload your bank statement, select the income transaction on the bank matching screen and select Deposit of Petty Cash, then from the second dropdown box, choose your Petty Cash account.

By following these steps, you have recorded the cash income on ExpensePlus on the day it was collected, even though you have taken the money to the bank at a different time.