Petty Cash

1. As far as your Durell system is concerned, Petty Cash is effectively a supplier that sells coffee, stamps and biscuits, etc, on credit, that you settle in fixed lumps of, say, £50 each, usually paid in advance.

1. Then each time you use some petty cash ensure you get a paper receipt and enter the details of each one in the Purchase Ledger, like that shown below, where the Name will be “Petty Cash”, the Item/Policy number will describe the item and the Who/Policy holder will show the retail outlet (e.g. Name=Petty Cash, Item/Policy number=Stationery, Who/Policyholder=WH Smith). When you have run out of petty cash, repeat the above process to replenish your real life box with another £50 and add a matching entry in the Cashbook. Then re-find the last un-reconciled Petty Cash transaction, double-click it to switch to the flat view, then click the “Reconcile” button whereupon you’ll be presented with the Petty Cash account to be reconciled (see “Accounts, Cashbook, Reconciling (Insurer and Adviser Accounts, etc”).

• Related Articles

• Transferable Commission

  From the Durell Home Screen Go to “Accounts” Click “Period End” Select the “Transferable” tab. Click the “>” under “Transfer up to date”, then amend as required. Click “Report” and save this somewhere (It’s imperative that this is saved) Click ...

• Contra (When Commisison Transferred)

  Firstly you will want to make a note of the original posting figures This can be done by going to the original policies premium screen, then taking a screenshot. Go back to the client policy screen Hit the “Starburst” The select “MTA for current ...

• Insurer Reconciliation

  Select the Accounts icon from the main Dashboard upon logging in to Durell.  From here, select the Cashbook as all Reconciliation will take place here.  To set up a new payment to a General Insurer, select the blue snowflake (in the top left corner) ...

• Printing from the Cashbook

  From the Durell front screen, select Accounts.   Now select Cashbook. Once in the Cashbook, select File, then Print and then Cashbook. Now use the settings in the new window to include or exclude any entries from your print out. Once ready, click ...

• Adjustments (When Paying Insurer)

  From the Durell Home Screen Go to “Accounts” Click “Cashbook” Click “Snowflake” to create a new cashbook entry Create the cashbook entry for the amount you will actually pay the insurer Click “Reconcile” on the cashbook entry after you’ve filled in ...