Hello there guys! I am happy to welcome you to my newest blog. In this blog where I am going to post our newest version of CMS, the iCash Management System (iCMS) 7N for the month of January 2015.
As what I have promised in my post yesterday, today, December 27, 2014, I am going to posts 7 articles about the iCMS 7N. Presenting to you guys is the iCash Management System 7N.
From the picture above, it shows the different modifications and improvements that is included in our iCMS 7N and I will discuss each in my posts.
You might think that January might have the name CMS 7i based on my teaser but this time, the letter i is at the first and not in the contrary. I don't need to explain what "i" stands for but I will discuss to you how that "i" affects the Cash Management System.
Short Background:
The innovative Cash Management System (iCMS) is a Microsoft Excel File that is designed to help user (especially me the developer) to manage cash and the cash flow.
The iCMS 7N will be the latest version upgrade of the Cash Management System. The iCMS 7N will be for the month of January 2015.
I consider iCMS 7N as one of the best upgrade of the CMS since it has
new and innovative functions and features that help users manage their cash
well. The upgrade helps users record transactions with less problems (hopefully) unlike
what happened on the past versions of CMS.
FEATURES:
The iCMS 7N will only have 2 sheets in total namely Transactions and Financial Statements sheets.
First Sheet:
The First sheet is the Transactions Sheet. It is the most comprehensive and the widest sheet ever made in the history of CMS because it has a total of 58 columns with 42 rows in CMS v7.0.0. The first sheet was made this wide because the daily transactions and cash comparison sheets together with the budget table of the Financial Statements Sheet in the previous versions of CMS were merged in a single sheet. (This is actually the 3B1 clue in CMS C)
* The Fund
and Obligations have a disclosure area wherein the user can make necessary
information about the cash restricted or the obligations or projects purchased.
This area is the new Budget table.
The First sheet is the Transactions Sheet. It is the most comprehensive and the widest sheet ever made in the history of CMS because it has a total of 58 columns with 42 rows in CMS v7.0.0. The first sheet was made this wide because the daily transactions and cash comparison sheets together with the budget table of the Financial Statements Sheet in the previous versions of CMS were merged in a single sheet. (This is actually the 3B1 clue in CMS C)
Starting
from this version, Sections are now available. Sections are created because of
the reorganization of columns based on their functions. For the iCMS 7N, it has
5 sections namely Transactions Involving
Cash from Allowance; Transactions Involving Cash Other than Allowance; Accounts
Receivable/Payable; Summary and; Cash Count. Each Section is identified
with its fill color different from the other.
Transactions Involving Cash from Allowance is the section wherein
the user will record amounts which involves Cash from Allowances. It has 6
Divisions and 11 Categories.
Division
|
Function
|
Categories
|
Cash Receipt (Allowance)
|
Shows the Cash Received as part of Allowance. It contributes to the
Unrestricted Cash.
|
In Cash; On Account
|
Food
|
Shows the cash paid for food needs.
|
Breakfast; Lunch; Dinner; Snacks
|
Miscellaneous
|
Shows other cash payments using allowance which
not under food division.
|
Load/Water; Fare; School Needs; and Uncategorized
|
Total Cash Paid by Allowance
|
Sum of Food and Miscellaneous Division amount
|
-
|
CRA Balance
|
Shows the balance of Cash Receipts (Allowance) after deducting Total
Cash Paid by Allowance.
|
-
|
Percentage Savings
|
Shows the percentage of cash receipts (allowance) balance over the
total Cash Receipts (allowance)
|
-
|
The
first section has an all new work area wherein each category has its own
classification column except for the “In cash” category. For the Cash Receipts
(Allowance) “On Account”, the user can choose “A” and “P” on the classification
column. Users can choose between A,P,E, or C for the cash payments. A list is
given so that users can easily select what type of cash receipt or cash payment
the amount is. This is added to record transactions involving cash from
allowance on account.
Here is the list
of Letters with their Meanings and Functions for your reference.
CASH
RECEIPTS
|
||
Letter
|
Meaning
|
Function
|
A
|
Advances
|
Received in Advance. Added to the Cash Receipts and Accounts Payable.
|
P
|
Payment
|
Payment for Advanced Cash Payment. Deduction to Accounts Receivable.
|
CASH
PAYMENTS
|
||
Letter
|
Meaning
|
Function
|
A
|
Advances
|
Paid in advance. Added to Total Cash Paid but not in Weekly Total of
the category it falls. It is an addition to the Accounts Receivable.
|
P
|
Payment
|
Payment for Advanced Cash Receipts. Deduction to Accounts Payable.
|
E
|
Extinguishment
|
An Extinguishment on the Advanced Cash Payments. It is included in
the Weekly Total but not in the Total Cash Paid. A deduction to Accounts
Receivable. It is considered as virtual expense
|
C
|
Cash
|
A normal Cash Payment. It adds to the Total Cash Paid and to the
Weekly Total. By default, Blank Cells would mean that it is a Cash Transaction
|
Transactions Involving Cash Other Than
Allowance is a section for cash transactions which are beyond the scope of
Cash from allowance. It has 4 Divisions and 5 Categories.
Division
|
Function
|
Categories
|
Receipts for Prepaid Items
|
Shows the Cash Received as payment for prepayments. It is part of the
Unrestricted Cash.
|
-
|
Restricted Cash
|
Shows the cash which are used for specific
purpose.
|
Cash Advances; Fund | Planned Items*
|
Other Cash Payments
|
Shows cash payments using the restricted and
unrestricted Cash.
|
Prepayments; For Advances; Obligations/Projects |
Disclosure*
|
Total
|
Shows the sum of the Other Cash Payment
|
-
|
The Accounts Receivable and Accounts Payable
Section is the section wherein the user can see his total obligations. It
has a total of 4 Divisions: 2 Balances and 2 Disclosures. Each pair is for
Accounts Receivable and Accounts Payable. Necessary disclosures can be entered
on the right side of the amount for a user-friendly approach in recording
receivables and payables. Now, Disclosures area on the Receivables and Payables
are wider to make disclosures fit in the columns.
The Summary Section is the section that sums up the transactions for
the day and for the week. It has 3 Divisions and 4 Categories.
Division
|
Function
|
Categories
|
Total Cash Additions
|
Shows the sum of the cash receipts from the first
2 sections.
|
-
|
Total Cash Reductions
|
Shows the sum of the cash payments from the first
2 sections.
|
-
|
Earnings Balance
|
Shows the earnings balance per day.
|
Restricted; Unrestricted; % of Change; Earnings
|
Cash on Hand Balance
|
Shows the cash balance per day.
|
Restricted; Unrestricted; % of Change; Cash
|
The Cash Count Section is the last part of
the first sheet wherein the user can compare the cash balance calculated by the
system to the actual cash on hand of the user. This is actually the cash
comparison table in the previous version.
What’s
new? Aside from its position (from a separate sheet to the first sheet), the
columns are now rearranged. The Actual Cash on Hand comes first before the
Amount/Number of Pieces unlike in the previous version. Before the Actual Cash
on Hands comes the newest Remarks Column wherein it really compares the Cash
Balance (on the Summary Section) and the Actual Cash on Hand (on the Cash Count
Section) by revealing whether Cash Balance is greater than (>), lesser than
(<), or equal to (=) the Actual Cash Balance. If there is no Cash Count in a
certain day, the remarks column will not show any symbol. The difference Column
will no longer show the Difference equal to Zero.
Furthermore,
Weekly Average is also added on the Section that gives the average of the cash
pieces in a week. This function gives more specific information regarding the
cash count. This function is the same with the v6.0.16 functions on the
latter’s second sheet.
Second Sheet:
The second sheet is the Financial Statements Sheet wherein the
user can view the results of the transactions in a weekly and monthly basis
through the Percentage Table (previously known as Weekly Analysis Table) and
the Month-end Financial Statements.
The
Percentage Table is a financial
statement wherein the user can view the analysis on the transactions made in a
week and for the whole month. This is the 3rd version of the Weekly
Analysis Table. It includes Weekly Total, Percentage (for Section 1 only: Percentage of Cash
Payments over Total Cash Payment per Division) and Overall (For Section 1: Percentage of Cash Payment
per category or division over total Cash Payment in Section 1) (For Section 2:
Total Cash Receipts per Category/Division over Total Cash Receipts and Total
Cash Payment per Category over Total Cash Payment). The percentage table
also includes Monthly Analysis in which it gives percentage about the Grand
Total of each categories and divisions in the first two sections.
The
Month-End Financial Statements are
now a total of THREE (3) monthly reports that give financial information about
the earnings and financial position of the user based on what is recorded on
the first sheet. This sheet is the Financial Statements sheet in the previous
versions. The Statement of Earnings shows the balance of earnings for
the end of the month. Now, it is more reliable because it actually shows the
increase or decrease in the earnings from the beginning of the month unlike in
the previous version wherein it was calculated only as of the end of the month
and will not be carried out on the next month. The balance of earnings will be
reflected on the Statement of Financial Position together with the
Accrued Receivable and Payable and the Cash on Hand.
The
latest addition: “Cash Balance Statement”
shows the change in cash on hand of the user from the transactions done in the
whole month. Percentage of Beginning Cash Balance, the Savings and on Ending Cash
Balance is also included on the report.
That's all for the main features of iCMS 7N, in my following posts, I'll be discussing the other features of iCMS 7N and the new guidelines and tips in effectively using the system.
