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Cash Transactions

Cash transactions are transactions that directly affect one of your bank accounts1. We use the term “Cash” somewhat loosely here to represent not only those transactions that involve the “folding stuff”, but also cheques, credit cards, automatic payments and so forth—in fact any financial transaction that is not an invoice.

There are two types of cash transactions: receipts and payments, and each type has its own tab view in the Transactions window. In addition, you can transfer funds between bank accounts with the Transfer Funds command.

Entering Payments

A Payment represents money that has left one of your bank accounts. If the payment is for an invoice that has already been entered into MoneyWorks it will need to be processed specially— see Paying Your Creditors.

If the payment is for a cash purchase of some sort, proceed as follows:

  1. In the Transactions window press Ctrl-N/⌘-N, or Choose Edit>New Payment, or click the New toolbar button

A transaction entry window will open.

  1. If necessary use the transaction type menu to set the transaction to the desired type

Tip: Use the keyboard shortcut to change the type:

  • For a Payment press Alt-Shift-1/Ctrl-Shift-1
  • For a Receipt press Alt-Shift-2/Ctrl-Shift-2

Note: MoneyWorks will (after confirmation) clear any information in a transaction when the type is altered.

  1. If the payment is made to a supplier whose details are recorded in the Names file, set the Supplier check box and key the supplier code into the Supplier field

The supplier’s name will appear in the To field. If you have the address fields showing, the address will also be displayed. If payment is being made for an invoice see Paying Your Creditors2.

  1. Enter the cheque number into the Cheque # field

MoneyWorks will have inserted a reference number one greater than the previously entered one. If this is correct, you need not type anything in. Historically this was the cheque number, but if you are not using cheques any more then it is just a reference number.

  1. Tab across to the Date field and enter the date of the transaction

By default, this will contain today’s date or the last date used.

  1. Choose the bank account from which the payment is being made from the Bank pop-up menu

The pop-up menu will be displaying the default bank account for the transaction type. Set the pin next to the bank menu to change the default

  1. Type the payee details into the To field

If you have entered a supplier code into the Supplier field, the To field will already contain the supplier’s name.

  1. Type a text description if required into the Description field

You can enter up to 1000 characters into this field.

  1. Type the total being paid into the Amount field

The OK and Next buttons dim when an amount is entered into the Amount field. The transaction is not complete until you have allocated the total amount to one or more accounts.

  1. Set the Paid By pop-up

This indicates the method of the transaction (cheque, cash etc.)—for payments this is purely for your own information.

Additional fields may be shown on the entry screen. These are controlled by the Views toolbar button. See Fields further details of these fields.

  1. Set the details tab to Service or Product, depending on the type of transaction

If the Supplier field has a creditor code in it, this will have defaulted to Payment on Invoice (not MoneyWorks Cashbook).

The Amount for the payment needs to be allocated to one or more accounts before the transaction can be entered.

  1. Press Ctrl-tab (Mac) or Ctrl-` (Win) to move to the first detail line
  1. See the section Entering Detail Lines to find out how to enter detail lines by account code or by product code

Note that the OK and Next buttons remain dimmed until the total gross amount and the total of the detail lines balance.

  1. Set the print and/or post options if you want to print out a payment advice/cheque, or post the transaction when it is accepted
  1. When the details of the transaction are complete, click the Next button or press the keypad-enter key to enter this transaction and bring up a new Payment form

Click OK if this is the last payment to be entered. Clicking Cancel discards the transaction.


1  Including a holding account.

2  Invoices are not available in MoneyWorks Cashbook.