Money transfers and opening balances

Not every rupee that moves is a sale or an expense. When the owner takes the day's cash to the bank, empties the JazzCash wallet, puts in money for a big order or takes some home, the money only changes place. A money transfer records that, so every account in the cash book shows what it really holds. This guide covers recording a cash deposit to the bank and the other kinds of transfer, and the opening balances you enter on your first day.

Money transfers are part of Accounts & books. If it is not in your menu, your plan does not include it. The owner can see what each plan includes under Plan & billing.

The four kinds of transfer

Open Money → Accounts & books and click the Money transfers tab. In Record a transfer, the What happened box offers:

How to record a bank deposit

1. Choose Move money in What happened.
2. In From, choose Cash in hand. In To, choose your bank account.
3. Enter the Amount (Rs.) and the Date. The date can be earlier than today, but not in the future.
4. Put the deposit slip number in Reference (optional), and anything useful in Notes (optional).
5. Click Save. The transfer gets a number starting with MT and appears in the list on the left.

Moving JazzCash or EasyPaisa money to the bank works the same way: From is the wallet and To is the bank. Card sales are a good use too. They collect in Card payments (to be settled), and when the bank credits them, move the amount from there to Bank account. At closing time, you can also move the day's takings from Cash in hand to Cash in safe, so the counter account only shows the float.

If you move cash out of Cash in hand while your own shift is open, the shift counts it as Transfers out. The drawer's expected cash then drops by the same amount.

How to enter opening balances on day one

When you start with MediPOS, the money accounts are at zero. Enter what each one really held on your first day:

1. Choose Opening balance (day one). The From box disappears.
2. In To, choose the account, for example Cash in hand.
3. Enter the amount, and set the Date to your first day in MediPOS.
4. Click Save. Repeat for the safe, each bank account, EasyPaisa and JazzCash.

For example: Rs 12,000 float in the drawer, Rs 3,40,000 in the bank and Rs 4,500 on EasyPaisa. Skipping this step is the usual reason a bank account shows below zero after a few supplier payments.

The other day-one balances are entered where they belong. Opening stock is entered as stock, with its cost. The udhaar each customer owes goes on the customer's form, and what you owe each distributor goes on the supplier's form. All of these meet in the Opening balances account, which the balance sheet shows under the owner's share.

How to void a transfer

Click the void button at the end of the transfer's row. MediPOS asks why. Type a reason, such as "entered twice", and confirm. The transfer stays in the list, greyed out, with Voided: and your reason. A reversal is posted on today's date, so both accounts go back to what they were. A voided transfer cannot be restored. Record it again if you need to.

Rules and tips

• Recording and voiding transfers needs Cash book, day book & accounts. Every transfer and every void is written to the audit log with who did it.
• MediPOS does not check that the From account has enough money. That lets you record reality, but a typing mistake can push an account below zero. Check the cash book after a big transfer.
• Transfers belong to the branch you are working in, and the list shows that branch only. Use From and To above the list to look at an earlier period.
• Owner's money in and out never counts as income or expense. Investment and drawings affect the balance sheet, not your profit.
• Only cash, bank and wallet accounts can be chosen. Accounts you have switched off do not appear.

Common questions

The owner paid a distributor from his own pocket. How do I record it?

First record Owner put money in to Cash in hand for that amount. Then record the supplier payment in cash from the supplier's page. Both steps show clearly in the books.

I deposited Rs 50,000 but entered Rs 5,000. Can I edit it?

No. Transfers cannot be edited. Void the wrong one and record the correct amount.

Why does the bank show minus after I paid suppliers by bank transfer?

The bank's opening balance was probably never entered. Record Opening balance (day one), dated your first day, and the balance corrects itself.

Is taking money home for the family an expense?

No. Record it as Owner took money out. It reduces the cash and the owner's share, but not the pharmacy's profit.

Related guides

• Cash book and day book
• Balance sheet and trial balance
• Adding medicines and opening stock
• Shifts and the cash drawer