FAQ Number : T4                                      Latest Update: 21/5/03

There may be many cases in which a cash float is required within the school – a tuck shop, a school stationary outlet etc.

These can be dealt with as follows :

1. Set up a Short Code account for the income from the shop eg School Shop Income if there is not already an appropriate code.

2. Set up the Float as a Bank Account – Transaction Entry – Transfers – Bank Transfers – New.

3. If you cash a cheque to provide the cash for the float, enter a Bank Transfer from your bank account into the Float account of the amount of float required.

4. If you are using existing cash from your petty cash tin to provide the cash for the float, enter a Bank Transfer from your ‘Cash’ bank account into the Float account of the amount of float required.

5. Code any cash receipts made into the shop in bulk, once a week or month etc., using the Short Code for School Shop but ‘bank it’ to the Float bank account.

6. Enter a bank transfer from the Float account into either Cash or the ‘real’ bank account if and when you bank any excess cash received.

7. Code any purchases made from the float using the Short Code for School Shop and the bank account Float.