Recording Debit Card Transactions
Some Of the nominals and ledgers used in this topic may be different to those in your chart of accounts.
Debit card transactions can be for payments your establishment / organisation have made using a debit card.
In IRIS Financials you can add a transaction to record the details of a debit card payment using a document input form. Once entered, the payment can then be reconciled against an existing or future document/transaction (such as a supplier invoice, etc.)
The document input form used to record the transaction depends on the purpose of the direct debit payment.
The following options are available:
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Purchase Payment document input form - used to record payments made to suppliers. For example, a payment for an item that was needed urgently, but the invoice has not been received yet.
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Miscellaneous Payment document input form - used to record ad-hoc payments, such as one of purchases. For example, for supplies for the staff room purchased from the local shop or an online purchase.
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Petty Cash Reimbursement document input form - used to top-up the balance of a single petty cash tin to replace the cash used. Using this input form allows you to top-up the applicable petty cash tin over the imprest amount, if you have one (not recommended). For more information, please see Recording Petty Cash Payments.
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Multi Petty Cash Reimbursement document input form - used to top-up the balance of multiple petty cash tins to replace the cash used. Using this input form allows you to top-up the applicable petty cash tins over the imprest amount, if you have one (not recommended). For more information, please see Recording Petty Cash Payments.
Recording debit card transactions consists of the following:
Selecting the Required Payment Document Input Form
Recording the Payment
Selecting the Required Payment Document Input Form
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Select Documents, then select Document Input from the menu.
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The Document Input dialog is displayed. To select the document type, select Drill (...) in Document type. Double-select to select
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Next, select Drill (...) in Input form to select the document input form required for the type of payment you are recording. Double-select to select required input form from the Select an input form dialog. In the following example, Purchase Payment, has been selected.
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The Date defaults to the date that you are entering the information, i.e. today's date. The date must be the same date as the date the payment was made using the debit card. To change the date, select the Date drop-down arrow and select the required date from the calendar. Alternatively you can, select the up-down buttons, or overwrite the date using a DD Month YYYY format, for example, 27 January 2021.
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The Period defaults to the current accounting period. The document period needs to be the accounting period in which the payment was made. If the required accounting period is now closed and no longer available, select the next open accounting period by selecting Drill (...) in Period, then double-select to select the required period from the Select a period dialog.
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Select OK to confirm your selections. The applicable document input form is then displayed.
Recording the Payment
The previously selected document input form is displayed, populated with the details entered in the Document Input dialog.
Please follow the instructions for the applicable document input form:
Recording a Debit Card Payment for a Supplier
Recording a Miscellaneous Debit Card Payment
Recording a Debit Card Payment for a Supplier
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The Purchase Payment document input form is displayed populated with the details entered in the Document Input dialog.
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Firstly, enter the details of the bank account from which the debit card payment was made. Double-select in Bank, then double-select to select the required bank account from the Select account dialog.
You are not able to move to the next field if the required data has not been entered. -
Next, select the supplier that received the debit card payment. Double-select in Account, then double-select to select the required supplier account from the Select PURCHASE account dialog.
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The Document Date defaults to the date entered in the Document Input dialog. The date must be the same as the date the payment was made using the debit card. If required, you can change the date by selecting the Document Date drop-down arrow, then selecting the required date from the calendar.
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Enter the value of the debit card payment in Value. This amount must exactly match the amount that left the bank account.
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Enter a description to help identify the purpose of the debit card payment in Description.
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The Account Summary on the right-hand side of the form displays the Creditor Balance, the Document Balance, and the New Creditor Balance.
If the Account Summary shows negative balances, it may mean that the supplier account is in credit or that there are invoices missing. Continue to record the payment, and check the supplier account as necessary. -
When all the required payment information has been entered, press F5 or select POST to post the payment.
If you want to allocate the payment after posting, select ALLOCATE to enable the allocation function before selecting POST to display the Allocation window (Alternatively, press and hold Shift and press F5 when posting) For more information, please see Allocating and Unallocating Documents. -
A blank document input form is displayed with the posted document displayed in Documents Posted. Enter the details for an additional debit card payment or select X to close the document input form.
To view, edit, or cancel the posted transaction, select the link to the required document from Documents Posted. For more information, please see Document Enquiry Functions.
Recording a Miscellaneous Debit Card Payment
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The Miscellaneous Payment document input form is displayed populated with the details entered in the Document Input dialog.
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Firstly, enter the details of the bank account from which the debit card payment was made. Double-select in Bank, then double-select to select the required bank account from the Select account dialog.
You are not able to move to the next field if the required data has not been entered. -
The Document Date defaults to the date entered in the Document Input dialog. The date must be the same as the date the payment was made using the debit card. If required, you can change the date by selecting the Document Date drop-down arrow, then selecting the required date from the calendar.
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Enter the value of the debit card payment in Amount. This amount must exactly match the amount that left the bank account.
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Enter a description to help identify the purpose of the debit card payment in Description.
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Next, add the item details for the payment. Double-select in Nominal, then double-select to select the required nominal from the Select a nominal dialog.
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Next, select the account to which the payment relates. Double-select in Account, then double-select to select the required account from the Select account dialog.
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Next, enter the total amount for the payment including VAT in Gross, for example, 50.00(do not enter any currency symbols i.e. £, $, etc.)
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If there is no automatically populated VAT rate or the VAT rate populated is incorrect for the payment, select the applicable VAT rate for the payment. Double-select in VAT Rate, then double-select to select the required VAT rate from the Select VATRATES key dialog. The VAT £ and Net are then automatically populated.
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Enter a description to help identify the purpose of the payment in Description
If you need to provide a more detailed description for the payment, press and hold the Ctrl key and the F8 key. The Detail Line 1 Comment dialog is displayed
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If the payment relates to a supplier, enter the supplier VAT number in Supplier VAT Number.
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If the payment details being entered are for a prepayment, enter a Prepayment Start Date and a Prepayment End Date. Select in Prepayment Start Date and Prepayment End Date to enter the dates. Dates need to be entered in dd/mm/yyyy format, for example, 08/01/2021. If entering a payment for a prepayment, make sure the applicable prepayment accounting periods are open before completing the input form. For more information please see Processing Prepayments.
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If the payment covers several items/payments (for example, a fuel payment and hotel costs for an expenses claim) you need to insert an additional payment row to the document input form for each item. To create a new item row, select into the blank space adjacent to
If you insert a payment row that is not required, select anywhere in the payment row to be removed, then select DELETE ROW.
If the new inserted payment row is to be coded to the same nominal and account as the previous payment row, enter a Period (full stop .) in the column on the inserted payment row, then press the Tab key. The information in the previous payment row is copied to the inserted payment row.
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If the Amount and Gross Total do not match, the Gross Total Does Not Match Document Amount message is displayed in red in the bottom left-hand corner of the window
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To correct the error, check that the Gross Total is the same as the amount in Amount. If these are different you need to make sure that the correct individual amounts and that all items of the payment have been entered. Also check that the correct VAT rate has been selected. When the Gross Total and Amount equal the same amount, the Gross Total Does Not Match Document Amount message is removed.
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When all the required payment information has been entered, press F5 or select POST to post the payment.
If you want to allocate the payment after posting, select ALLOCATE to enable the allocation function before selecting POST to display the Allocation window (Alternatively, press and hold Shift and press F5 when posting). For more information, please see Allocating and Unallocating Documents. -
A blank document input form is displayed, with the posted document displayed in Documents Posted. Enter the details for an additional debit card payment or select X to close the document input form.
To view, edit, or cancel the posted transaction, select the link to the required document from Documents Posted. For more information, please see Document Enquiry Functions.
Also see: