Transaction Entry

The instructions in this article relate to Transaction Entry. The icon may be located on your StrataMax Desktop or found using the StrataMax Search.

Transaction Entry has a couple of functions that are likely to be used, as there are newer features which should be used to complete some of the options that may have been available in this area:

Use these functions for adjustments, rather than Transaction Entry:

• Transaction Code Change (may assist to transfer an individual transaction from one account to another - limits apply).
• Debtor Adjustments (for all adjustments for Debtor / Second Debtors accounts).
• Journal Preparation (to move funds from one account to another where the above options are unable to be utilised).

Configuration

Review the below settings for Transaction Entry prior to creating entries in this area to ensure that preferences are correct to achieve expected outcome.

User Settings

Auto Insert today's date
Automatically inserts today's date when a new entry is created.

Clear date for each entry
After an entry has been saved, the date field will be cleared.

Clear Details for each entry
After an entry has been saved, the details field will be created.

Account Name in Details
When a new entry is created, the account code description will be used in the details field.

Overwrite Always On
If set, when typing in a field that already has data in it, it will overwrite the data in that field.

Allow Change of Balance A/c
If set, the Auto Balance Account for Payments can be changed to use a different account code. By default the account code used is Cash at Bank 012.

Entry Mode at Start
Choose the entry mode to be selected when Transaction Entry is opened.

Global Settings

Test Split Bank Balances for Payments
If set, when payments are being entered (Creditor Invoices) and created in Payments split balances will be tested (by fund) to alert if a fund has insufficient funds.

Password for Entry After Audit
Once an audit has been completed, this can be ticked and the date entered in Building Information. This will prompt any transactions from being created within that financial year. If set, this setting will ask for a password to allow transactions to be created.

Include UnPresented Credits in Overdraw Test
When creating payments, this setting will test the unpresented credits in the calculation for the bank account balance and test this in the Overdraw Test.

Allow Payments From Sub-Groups
If set, payments from Sub-Groups can be made from within the Sub-Group

Entering a Journal

When using Transaction Entry to create a journal, you will need to create a minimum of two journals and the total of these two journals must equal to 0.00. If it doesn't, Transaction Entry will prompt you and will not allow you to save the journals.

1. Search or select Transaction Entry.
2. Change the entry mode to 'JOURNAL'.
3. Select the general ledger account code to record a journal entry for. 
4. Type in the 'Date' for the journal entry or select it through the calendar. 
5. Type in the 'Amount' for the journal as dollars and cents with a decimal place e.g. 250.00, with minus sign for a credit, no sign for a debit in front of the amount number.
6. Type in the 'Details' if it does not appear automatically (check configuration settings). Click Previous to use the details  used for the most immediate previous journal for this selected account.
7. Type in any 'Comments' and or 'Extra Info' if you need to record any extra information about this journal or leave blank.
8. Click Save.

You will need to enter in additional journals to balance the batch of journals to 0.00. If you exit out of this screen without balancing the journals, StrataMax will provide a prompt and will not save the journals entered.

Editing a Transaction

Editing a Transaction is available to adjust an incorrectly entered journal or to edit the details for a transaction/journal. To edit a payment, refer to the Payments Management article.

1. Search or select Transaction Entry.
2. Change the entry mode to 'EDIT'.
3. Select the general ledger account code to edit a transaction for.
4. A list of transactions will be displayed for the selected account code. These transactions are user created transactions for the current year.
5. To show all user entered transactions, click Show All. You can then click Show Contras to display all of the automatic balancing entries added by StrataMax as well.
6. Click the transaction you wish to edit, and click OK.
7. Make changes as required then click Save.
8. Repeat the above steps to edit the opposite side of the Journal > Save.

Important: if you are editing the amount you will need to edit the other side of the journal.  If you make a mistake close out of Transaction Entry before the journal total equals zero and the changes will not be posted. 

Reversing a Transaction

Reversing a transaction will cancel a transaction created in a previous month within the financial year. Because each Journal entry is a one-sided journal entry you will need to make balancing entries before you can exit Transaction Entry. The balance of all journal entries made will be displayed in the bottom left corner of the screen in 'Journal Total'.

1. Search or select Transaction Entry.
2. Change the entry mode to 'REVERSE'.
3. Select the general ledger account code where a transaction needs reversing.
4. A list of transactions will be displayed for the selected account code. These transactions are transactions for the current year.
5. Click the transaction you wish to reverse, and click OK.
6. Check the information on the selected transaction to make sure you clicked on the correct transaction to reverse, then click Save.
7. Repeat the above steps to reverse the opposite side of the Journal.

Transaction History - Edit / Reverse

Editing or Reversing a Journal through Transaction History may be an easier way to identify the Journals to edit or reverse.

1. Search or select Transaction Entry.
2. Go to the Options menu > Transaction History.
3. Navigate and highlight the transaction to Edit or Reverse, then click the Edit or Reverse button following the same rules. Edit to edit a transaction that was created in the current month, Reverse to reverse transactions created in previous months within the financial year
4. If editing, enter the updated details or amount, then click Save.  Or if Reversing, just click Save.
5. Repeat this process for the opposite side of the Journal.

Direct Entry

Direct Entry option is no longer applicable. Transactions can be created directly from the Bank Reconciliation screen. Refer to Process Bank Statements.

Cheque

Cheque option is no longer applicable. Refer to our Payment Entry article to manage outgoing one-off payments, reimbursements and part payments.

Transaction History

Transaction History produces a full ledger for the financial year including any transactions edited to zero. The Transaction History will assist with reconciliations, identifying account codes, reference numbers, batches of transactions and also any reversals are distinguished. 

1. Search or select Transaction Entry.
2. Select Options > Transaction History.

a. Batch No: Each journal set/transaction batch is allocated a Batch no essentially meaning the transactions were created together.
b. Date: The date the transaction was either entered or the date entered when creating the transaction.
c. Account Code: The account code the transaction is posted to.
d. Type: The type of transaction. Refer to the article on Transactions in StrataMax.
e. Presented: If there is a 'P' in the Presented column this indicates the transaction has been marked as presented at the bank. If this field is blank, the transaction should be visible on the Bank Reconciliation Report.
f. Amount: The amount of the transaction. (Minus sign is a credit).
g. Invoice Code: The Invoice Code related to the transaction, further details in Levy Invoice Code Setup.
h. Levy Number: If the transaction is a Levy record this will have a levy number listed matching Levy Management.
i. Description: The description of the transaction. If this is "Balancing entry" this is the contra side of a batch.
j. Reference: Each transaction has a unique reference number. Refer to the Transactions in StrataMax article for further details.
k. Extra Details: Reports the corresponding transaction Reference or Invoice Number.
l. Posting Period: The Posting Period relates to the Month the transaction relates to. July = 17, August = 18, Sept = 19 etc.
m. OK: Closes the Transaction History screen back to Transaction Entry.
n. Stop Payment: If a cheque payment is highlighted and "Stop Cheque" is clicked this will send a request by email to the StrataCash Management Team to place a stop on the selected cheque.
o. Edit: Opens 'Edit' mode and allow adjustments to be made to journals (record must be from the Current Month).
p. Reverse: Opens "Reverse" mode and will create a reversal record of a journal if saved.
q. Close: Closes the Transaction History screen back to Transaction Entry.

 

A reversed transaction will be marked as a Y in the Reference column and the original transaction will be marked with an X. 

• Any transactions with X at the end of the reference, are the user entered transactions that have been reversed.
• Any transaction with Y at the end of the reference, are system generated transactions to reverse a transaction (with the X reference).