Setup Suspense Receipts & Suspense Payments Codes

To import data into Agrimaster or when using full budget worksheets, you are required to add two new codes into your existing code list. These are: 

• Suspense Receipts: As a code, directly under the income major heading.
• Suspense Payments: As a code, directly under the payment major heading. 

When importing data, items that aren’t matched in the Cashbook will default to the Suspense Receipts or Suspense Payments codes.

To maintain the accuracy of your records, entries sitting in Suspense Receipts and Suspense Payments need to be reviewed and re-coded with the appropriate GST as the default tax code for these two codes is GST Standard. This default assignment may not be the correct tax code required, leading to incorrect BAS reporting.

To add these codes, follow the steps below. 

1. Start at the Home Page.
    
2. Click Setup & Tools.
    
3. Click Cashbook Setup.
    
4. Click Codes.
    
5. The Setup Transaction and Budget Codes screen will display.

To Add A Suspense Receipts Code

Where no codes exist, you will automatically be in the adding new code. If codes do exist, click the Add New icon to switch to editing to adding new code mode or press F6.

1. Select the first item* under the Receipts major heading. This code will be highlighted.
2. If you do not have codes, you will need to add headings first (see our management code list).
3. Select Receipt.
4. Code Name: Enter Suspense Receipts.
5. GST Category: Standard.
6. Link to Enterprise: Leave as is.
7. Quantity Type: Leave as the default.
8. Instalment Tax Status: Taxable (non-taxable required for receipt codes only).
9. Click or press F10 to save data.
10. The newly created Suspense Receipts code will be listed just under the Receipts major heading.

To Create The Suspense Payments Code

1. Using the scrollbar on the side of the codes list, scroll to Payments.
2. Select the first item* displayed under the Payments major heading. This code item will be highlighted.
3. Select Code.
4. Select Payment.
5. Code Name: Enter Suspense Payments.
6. GST Category: Standard.
7. Link to Enterprise: Leave as is.
8. Quantity Type: Leave as default.
9. Instalment Tax Status: Taxable (non-taxable required for receipt codes only).
10. Click or press F10 to save data.

 *Please Note: If the item selected is other than the first item displayed under the Receipts or Payments major headings:

• In Full Budgets, when an income or expense is allocated, and you forget to select a code, the first item under the Receipts or Payments major heading will be automatically assigned to that item.
• During Internet Banking, where no code has been assigned to the transactions, the first item under the Receipts or Payments major heading will be automatically assigned to those transactions.
• When importing RCTIs, or importing data from Wagemaster or Dext Prepare, where no code has been assigned to all the split lines of a transaction, or transactions, the first item under the Receipts or Payments major heading will be automatically assigned to those splits or transactions.