Receipts and Payments Summary — Complete User Guide — Two Accounts Web

Comprehensive guide for generating, analysing, and understanding the Receipts and Payments Summary — a company-wide overview of all cash inflows and outflows across all bank accounts

Table of Contents

1. What Is the Receipts and Payments Summary?
   • Purpose and Structure
   • vs Bank Account Summary
   • vs Cash Flow Statement
2. Enabling from the Customize Menu
3. Field-by-Field Guide
   • Report Header Fields
   • Report Columns (Periods)
   • Report Footer
4. Settings Configuration
   • Bank and Cash Accounts
   • Opening Balances
5. Creating a Receipts and Payments Summary Report
6. How the Report Is Calculated
   • Receipts and Payments
   • Net Increase/Decrease
   • LC (Letter of Credit) Activity
   • Cash at Beginning of Period
   • Foreign Exchange Revaluation
   • Adjustments (Journal Entries)
   • Cash at End of Period
7. Drill-Down Capabilities
8. Sample Data and Report Output
   • Sample Setup
   • Report Output
   • Verification of Calculation
9. Common Issues and Solutions
10. Accounting Regulation Compliance

1. What Is the Receipts and Payments Summary?

The Receipts and Payments Summary is a company-wide financial report that shows all cash inflows and outflows across all bank and cash accounts for a period. It provides a complete picture of cash movements — receipts from customers, payments to suppliers, salary disbursements, expense claims, LC transactions, inter-account transfers, and manual journal entries.

Unlike the Bank Account Summary (which focuses on a single bank account), this report aggregates across the entire business. Unlike the Cash Flow Statement (which uses operating/investing/financing classification), it groups transactions simply by their contra account type.

1.1 Purpose and Structure

The report shows:

• Receipts — all money received, grouped by the contra account (e.g. Accounts Receivable, Sales Revenue, Loan Payable)
• Payments — all money paid, grouped by the contra account (e.g. Accounts Payable, Salary Expense, Rent Expense)
• Net Increase/(Decrease) — Receipts minus Payments
• LC Activity — Import LC Payments and Export LC Receipts shown separately
• Cash at Beginning — total cash across all bank accounts at the period start
• Foreign Exchange Revaluation — FX gains/losses on cash accounts (shown if any)
• Adjustments — manual journal entries affecting cash accounts (shown if any)
• Cash at End — total cash across all bank accounts at the period end

1.2 vs Bank Account Summary

1.3 vs Cash Flow Statement

2. Enabling from the Customize Menu

The Receipts and Payments Summary report is available under:

• Reports → Cash and Cash Equivalents → Receipts and Payments Summary

It requires the Bank and Cash Accounts tab to be enabled in Customize Menu:

1. Open Customize Menu
2. Find Bank and Cash Accounts toggle — ensure it is turned ON (default is ON)
3. Click Save

3. Field-by-Field Guide

3.1 Report Header Fields

Location: Reports → Cash and Cash Equivalents → Receipts and Payments Summary → New Report

3.2 Report Columns (Periods)

Each report can contain one or more period columns for comparative analysis — for example, Q1 vs Q2 shown side by side.

3.3 Report Footer

The Footer field accepts multi-line text. Common uses include:

• Notes about significant cash transactions
• Disclosure of LC facilities utilised
• Currency references
• Foreign exchange policy notes

4. Settings Configuration

4.1 Bank and Cash Accounts

Location: Bank and Cash Accounts

All active bank and cash accounts are automatically included in the Receipts and Payments Summary. There is no need to select specific accounts — the report aggregates across all accounts.

4.2 Opening Balances

Location: Settings → Opening Balances → New Opening Balance Entry

Opening balances for bank accounts feed into the "Cash at the Beginning of the Period" line. Each bank account should have an opening balance entry if it had a balance before the business started using the system.

5. Creating a Receipts and Payments Summary Report

1. Go to Reports → Cash and Cash Equivalents → Receipts and Payments Summary
2. Click New Report
3. Enter a Title (optional)
4. Enter a Description (optional)
5. Optionally check Account Codes and Exclude Zero Balances
6. Add Periods:
   • Click Add to add a period column
   • Enter the From Date and To Date
   • Optionally enter a custom Column Name
   • Add additional periods for comparative analysis
7. Optionally enter a Footer note
8. Click Save
9. The report generates showing Receipts, Payments, LC Activity, and Cash Reconciliation

6. How the Report Is Calculated

6.1 Receipts and Payments

Receipts and Payments are calculated from a common set of transactions, filtered by sign:

Transaction Pool = All General Ledger transactions where:
    • The GL account is NOT a cash/bank account
    • The transaction type is one of:
      - Receipt
      - Payment (excluding LC-linked payments)
      - Inter Account Transfer
      - Expense Claim

Cash/bank accounts are excluded from this pool because they are handled separately in the Cash at Beginning, Cash at End, LC, FX, and Adjustments sections.

Transaction types excluded from the main pool (handled separately):

• Payments linked to a Letter of Credit (shown under Import LC Payments)
• Export LC Receipt transactions (shown under Export LC Receipts)
• Journal Entry transactions affecting cash accounts (shown under Adjustments)

Receipts (shown as positive):

Amount = Sum of (base currency amount × −1)
    for entries where the sum of base currency amount is NEGATIVE
    (credit entries — money received)
    Grouped by the contra General Ledger account

When money is received, the contra account (e.g., Accounts Receivable) is credited, producing a negative base amount. The system flips the sign so receipts display as positive.

Payments (shown as negative with "Less:" prefix):

Amount = Sum of (base currency amount × −1)
    for entries where the sum of base currency amount is POSITIVE
    (debit entries — money paid)
    Grouped by the contra General Ledger account

When money is paid, the contra account (e.g., Salary Expense) is debited, producing a positive base amount. The system flips the sign and the payment group is marked as "Less" (subtracted in totals).

6.2 Net Increase/Decrease

Net Increase/(Decrease) = Total Receipts − Total Payments

Automatically calculated by the report layout. The Payments group is marked as "Less" so the total reflects Receipts minus Payments.

6.3 LC (Letter of Credit) Activity

LC transactions are queried separately from the main pool:

Import LC Payments = Sum of base currency amount
    for Cash at Bank entries where:
    • The transaction is a Payment with at least one LC-linked line
    • The date is within the period

Export LC Receipts = Sum of base currency amount
    for Cash at Bank entries where:
    • The transaction is an Export LC Receipt
    • The date is within the period

Both rows only appear if their amounts are non-zero.

6.4 Cash at Beginning of Period

The opening cash balance is calculated across ALL bank accounts:

Opening Cash = Sum of base currency amount
    for Cash at Bank entries where:
    • The date is BEFORE the period start date
      OR the entry is an Opening Balance Entry
    (after foreign exchange revaluation up to the period dates)

6.5 Foreign Exchange Revaluation

This row only appears if foreign currency bank accounts exist and have FX revaluation entries:

FX Effect = Sum of base currency amount
    for Cash at Bank entries where:
    • The date is exactly the period end date
    • The entry has no linked transaction
      (these are synthetic FX revaluation entries)

6.6 Adjustments (Journal Entries)

Manual journal entries affecting cash accounts appear as a separate row:

Adjustments = Sum of base currency amount
    for Cash at Bank entries where:
    • The date is within the period
    • The transaction is a Journal Entry

This row only appears if any journal entries affect cash accounts in the period.

6.7 Cash at End of Period

Automatically calculated as:

Closing Cash = Opening Cash + Net Increase/(Decrease)
    + Import LC Payments + Export LC Receipts
    + Foreign Exchange Effect + Adjustments

7. Drill-Down Capabilities

Each amount in the Receipts and Payments sections is clickable.

Each drill-down view displays:

• Date — the transaction date
• Transaction — the document type and reference
• Description — transaction narrative
• Amount — the base currency amount (sign convention depends on whether it is a receipt or payment)

8. Sample Data and Report Output

8.1 Sample Setup

A business operates with two bank accounts — Main Account and Payroll Account. The following transactions occurred during January 2026.

Opening Balances (1 January 2026)

Transactions During January 2026

8.2 Report Output

Receipts and Payments Summary — ABC Trading
For the period: 1-Jan-2026 to 31-Jan-2026
                                                         Amount (BDT)
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
RECEIPTS
  Accounts Receivable                                    200,000  ¹
  Loan Payable                                           100,000  ²
                                                          300,000

PAYMENTS
  Accounts Payable                                        80,000  ³
  Salary Expense                                          60,000  ⁴
  Travel Expense                                           5,000  ⁵
  Rent Expense                                            15,000  ⁶
  Utility Expense                                         10,000  ⁷
                                                          170,000

NET INCREASE/(DECREASE) IN CASH HELD                     130,000  ⁸

IMPORT LC PAYMENTS                                       (50,000)  ⁹
EXPORT LC RECEIPTS                                             0

CASH AT THE BEGINNING OF THE PERIOD                      150,000  ¹⁰

FOREIGN EXCHANGE GAIN                                          0
ADJUSTMENTS                                               (2,000)  ¹¹

CASH AT THE END OF THE PERIOD                            228,000  ¹²
                                                          ═══════

Notes:

1. Accounts Receivable 200,000: Receipts on 5-Jan (150,000) + 8-Jan (50,000)
2. Loan Payable 100,000: Loan proceeds received on 12-Jan
3. Accounts Payable 80,000: Supplier payment on 10-Jan
4. Salary Expense 60,000: Salaries on 15-Jan (from Payroll account)
5. Travel Expense 5,000: Expense claim on 22-Jan
6. Rent Expense 15,000: Rent payment on 20-Jan
7. Utility Expense 10,000: Utility bill on 30-Jan
8. Net Increase 130,000: 300,000 − 170,000 = 130,000
9. Import LC Payments (50,000): LC payment on 25-Jan — separated because it is LC-linked
10. Opening Cash 150,000: Main (100,000) + Payroll (50,000)
11. Adjustments (2,000): Bank charge JE on 28-Jan
12. Closing Cash 228,000: 150,000 + 130,000 − 50,000 − 2,000 = 228,000

8.3 Verification of Calculation

RECEIPTS (contra accounts with negative base amounts):
  Accounts Receivable:    150,000 + 50,000 = 200,000 ✓
  Loan Payable:           100,000
  Total:                  300,000 ✓

PAYMENTS (contra accounts with positive base amounts):
  Accounts Payable:        80,000 ✓
  Salary Expense:          60,000 ✓
  Travel Expense:           5,000 ✓
  Rent Expense:            15,000 ✓
  Utility Expense:         10,000 ✓
  Total:                  170,000 ✓

NET INCREASE/(DECREASE):  300,000 − 170,000 = 130,000 ✓

CASH RECONCILIATION:
  Opening Cash (Main + Payroll):          150,000
  + Net Increase:                         130,000
  − Import LC Payments:                   (50,000)
  + Export LC Receipts:                         0
  + FX Revaluation:                              0
  − Adjustments (Bank charge JE):          (2,000)
  = Closing Cash:                         228,000 ✓

BALANCE CHECK:
  Main Account:
    Opening:         100,000
    + Receipts:      150,000 + 50,000 + 100,000 = 300,000
    − Payments:      80,000 + 15,000 + 10,000 = 105,000
    − LC Payment:    50,000
    − Transfer out:  60,000
    − JE:             2,000
    − Expense Claim:  5,000
    = Closing:       178,000

  Payroll Account:
    Opening:                  50,000
    + Transfer in:            60,000
    − Salary payment:         60,000
    = Closing:                50,000

  Total Closing Cash: 178,000 + 50,000 = 228,000 ✓

DR = CR VERIFICATION:
  All debits to bank:  150,000 + 50,000 + 100,000 + 60,000 = 360,000
  All credits from bank: 80,000 + 60,000 + 15,000 + 60,000 + 5,000 + 50,000 + 2,000 + 10,000 = 282,000
  Net: 360,000 − 282,000 = 78,000 increase
  Opening: 150,000 + 78,000 = 228,000 ✓

9. Common Issues and Solutions

9.1 Total Cash at Period End Does Not Match Balance Sheet

Cause: Foreign exchange revaluation entries will cause differences because the Receipts and Payments Summary uses the revalued GL for the cash reconciliation but the raw GL for the receipts/payments. The FX Revaluation row captures this difference.

Solution: Check the Foreign Exchange Revaluation row in the report. If it is non-zero, it explains the difference between cash movements and the Balance Sheet cash balance. Also verify that all bank accounts have opening balance entries.

9.2 Transactions Appear in the Wrong Section

Cause: Receipts are determined by negative base amounts; Payments by positive base amounts. If a transaction was entered with the wrong sign (payment entered as receipt or vice versa), it appears in the wrong section.

Solution: Drill into the amount to verify the underlying transaction. Receipts should have negative base amounts (credits to the contra account). Payments should have positive base amounts (debits to the contra account). Correct misclassified transactions at the source.

9.3 LC Payments Are Missing

Cause: The LC payment was not properly linked to a Letter of Credit when created, or it was created as a regular payment instead of through the LC module.

Solution: LC payments must be created through the LC module so the payment lines are properly linked to the Letter of Credit. Regular payments with LC references are excluded from the main payments listing and also not shown under Import LC Payments — they fall through both filters.

9.4 Opening Balance Does Not Match

Cause: Missing opening balance entries for bank accounts, or backdated transactions affecting cash accounts before the period start.

Solution: Ensure each bank account has an opening balance entry if it had a balance before the system start date. Check for any transactions dated before the report period start that affect cash accounts.

9.5 Report Shows No Transactions

Cause: No receipts, payments, or other qualifying transactions exist within the selected date range, or the date range is set incorrectly.

Solution: Verify that the From Date is before the To Date. Check that receipts and payments exist for the selected period. Without the Bank and Cash Accounts tab enabled, the report does not appear in the menu at all.

9.6 Expense Claims Are Not Showing

Cause: The Expense Claims tab must be enabled in Customize Menu for expense claim transactions to be created. If no expense claims exist, no transactions appear under that account.

Solution: Enable the Expense Claims tab in Customize Menu, create expense claim entries. They will automatically appear in the Payments section when the report is regenerated.

10. Accounting Regulation Compliance

10.1 IAS 7 — Statement of Cash Flows

10.2 IAS 1 — Presentation of Financial Statements

10.3 IFRS 9 — Financial Instruments

10.4 DR = CR Verification

Sample Data Verification:

  Opening Cash: 100,000 (Main) + 50,000 (Payroll) = 150,000 ✓

  Receipts (credit entries to contra accounts):
    AR:         150,000 + 50,000 = 200,000
    Loan:       100,000
    Total:      300,000

  Payments (debit entries to contra accounts):
    AP:          80,000
    Salary:      60,000
    Travel:       5,000
    Rent:        15,000
    Utility:     10,000
    Total:      170,000

  LC Payments:  50,000
  Adjustments:   2,000

  Closing: 150,000 + 300,000 − 170,000 − 50,000 − 2,000 = 228,000 ✓

  Each transaction DR = CR ✓
  All cash movements reconciled ✓
  Total debits match total credits ✓

End of Receipts and Payments Summary Guide