Cash Management

Cash Management


IdeaCash management in PropWorx encompasses the handling of physical cash received from tenants that is not deposited into a bank, as well as cash paid out to landlords without being withdrawn from the bank. Additionally, it includes the management of cash used within the business operation, such as petty cash for day-to-day expenses. This feature ensures accurate tracking of all cash transactions, offering transparency and control for property managers and landlords over both income and operational expenditures.

Create a Cash Cashbook(s)

1. Click Settings on the Main Menu.



2. Click Accounting Settings



3. Click Edit button to load and maintain company settings


4. Scroll to Cashbook Management section
5. Click New Cashbook



6. A new cashbook screen will open. All fields are mandatory, fill in the cashbook details: 
  1. Account Name (e.g. Rental Cash)
  2. Description (e.g. Rental Cash)
  3. Bank Name (e.g. First National Bank)
  4. Account Holder (e.g. Real Estate Pty LTD) Optional
  5. Account Number (e.g. 0)
  6. Branch Code (e.g. 0)
  7. Account Type (e.g. Current/Cheque Account)
  8. Cashbook Type: Choose between Trust, Deposit and business
  9. Activate cashbook toggle

7. Click Submit Details Button


8. Cashbook will be loaded to cashbook list. 

Load Cash Transactions

Alert
Clients can manage cash funds in PropWorx by either using a PropWorx Cash Excel template to import multiple transactions at once or manually loading each item individually for greater control and accuracy.

1. On PropWorx, click on Accounting on the Main Menu.


2. Click on Banking



3. On the main ribbon bar, select the New Transactions.



4.  New Transaction screen will open. 

5. Select the Cash cashbook from the drop-down menu


6. Clients can manage cash funds in PropWorx by choosing between two options:
  1. Option A allows them to use a Cash Fund Excel template to import multiple transactions at once
  2. Option B enables them to manually load each item individually, creating cashbook receipt documents that can be printed immediately.

Option A allows them to use a Cash Fund Excel template to import multiple transactions at once

1. Click on Import Bank Statement button.


2. Click on browse to search and select the saved spreadsheet. Click on Save.
 
Warning
Important: Ensure the spreadsheet name is PropWorx Bank Statement Import Sheet. 

3. Transactions will be loaded to the bank statement table. If require: Allocate transactions and split transactions. 



4: Select the transaction rows by ticking them.
- Optional: If you would like to receive the cash monies, you are able to type in the Closing Balance (credit 41,069.91). If it is balanced, it will show status "Reconciled"


5. Click on Process button.



6. The transaction(s) will be processed and recorded in the designated file. You are now able to generate a cash receipt for the items. 

Option B: Add Induvial Items to generate Cash Book Receipt documents

1. Click on Add + button on the control panel.



2. Add Transaction screen will open.
  1. Select the opening balance Date from the calendar (e.g. 19 October).
  2. Select the File from the File Name field where the opening balance should appear.
  3. Type in a description (e.g., Opening Balance) and reference (optional)
  4. Add the transaction amount under the credit field (to show a positive balance) or a debit field (to show a deficit balance).
3. Click on Save to load the new transaction.



4. Transactions will be loaded to the bank statement table. Repeat as required.



5: Select the transaction rows by ticking them.
- Optional: If you would like to receive the cash monies, you are able to type in the Closing Balance (credit 41,069.91). IF it is balanced, it will show status "Reconciled"


6. Click on Process button.



7. The transaction(s) will be processed and recorded in the designated file. You are now able to generate a cash receipt for the items. 


Generate a Cash Receipt Document

1. Click Accounting on the Main Menu.


2. Click on Banking



3. On the main ribbon bar, select the Receipts.



4.  Cashbook Receipts screen will open. 

5. Optional: Choose the date range for the receipts you want to view or download. If needed, you can also select the file type from the drop-down menu, offering options between Customer files and Accounting Files and file status.



6. Receipts can be printed individually or in bulk. To Print, tick the receipts to be printed and click PDF button. If multiple receipts are selected, all the receipts will be downloaded as a single PDF document, but each receipt will appear on its own page.

How to populate PropWorx Bank Statement Import Sheet

Notes
Find Import sheet attached to the article or click on link to download

1. Open the PropWorx Bank Statement Import Sheet.
2. Ensure that the Cashbook Account Number matches the account number on the Cash Cashbook in PropWorx.
3. Add the following details:
  1. Enter the customer account number (File Number) in either the File Number or Description column. PropWorx will check both fields for auto-allocations, so you can use either one.
  2. Input the date in the YYYYMMDD format.
  3. Enter the amount under the Credit or Debit column.

4. Save the report to your device, ensuring the sheet name remains PropWorx Bank Statement Import Sheet. After importing it into PropWorx, you can save a copy with a new name for future reference.

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