This quick reference guide describes how to create a Cash Receipt (CR) transaction in FINET.
CRs serve to enter accounting events that record all monies collected as earned revenue, including collections against outstanding receivables, customer accounts, and cash basis collections with no transaction or customer account reference.
Creating a CR transaction
1. From the home page, click on the Transaction Catalog quick link.
2. Click the Create button in the upper-right corner. The Create Transaction page opens.
3. Enter the following:
• Transaction Code: CR
• Transaction Department: The department number for which this CR is being created.
• Transaction Unit: Optional, but used for routing purposes.
• Transaction ID: Prefix for transaction number. It may start with the last two digits of the current fiscal year.
4. Click the Auto Numbering checkbox.
5. Click Continue button in upper right corner. The draft of the CR transaction is created.
Header Tab
Enter or select the Bank Account from the Pick-List at the end of the field. This is found in the General Information section, which is expanded when you create the transaction.
A usability change has been made to the existing summary tab on the Cash Receipt transaction to facilitate efficient approvals and reviews. Fields for Fiscal Year, Budget Fiscal Year, and Accounting Period fields have been added to the header section.
Customer Tab
Navigate to the Customer Tab. On the left side you will find an insert button. Click to create a new customer line. New FINET places the most important and frequently used fields on a dark blue line for easy entry.
On the line you just added, enter:
1. Customer ID field (optional) - enter Customer number or select from Pick-List.
2. Billing Profile field (optional)- enter billing profile or select from Pick-List.
3. Line Amount field- the total amount received from this customer.
4. Payment Type field- Select payment type used by the particular customer.
5. Check/EFT Number field: enter check number (if the payment was by check).
Notice there is an arrow on the left side of the line. This expands the line and gives you options to see additional information through sub-menus.
The blue line under the General Information, indicates which sub-menu option is selected.
Your options are: General Information, Payment Information, Reference Information, Check/EFT and Wire Transfer.
Accounting Tab
Navigate to the Accounting Tab. On the left side you will find an insert button. Click the icon to add a new accounting line.
Note: The most common fields that need to be entered appear on each dark blue line.
Enter the following on the blue line:
• Line Amount
• Fund
• Deprtment
• Unit
• Appr Unit
• Revenue
Sometimes you will need to scroll to see all the fields. Other times you may need to expand the line to enter information. In this case, you will want to expand the line to enter a Line Description. There are additional less used fields found under the Show More button.
To complete the transaction the click Validate and Submit buttons, located in the upper-right corner of the transaction.
Finalizing the Transaction
The same workflow rules have been established in new FINET. After you click submit, if the transaction required approval in old FINET, it will still need approval in new FINET and will update to Pending status. The transactions will route to the same worklists but now the approver can approve the transaction without going to the worklist and taking the task, saving time.