Cash account Settings


This section is used to configure the necessary data for the cash box management and the relationship between the cash box and accounting:


Cash Box / Cash box for F.C cash These cards will be charged and credited when issuing receipts and deposits.


Cash box for checks / F.C checks: These cards will be charged and credited when issuing receipts and deposits.


Cancellation Of Small Differences: This card is for cases where the payment does not close the debt precisely. WizCount allows you to close the difference against a Cancellation Of Small Differences Card. (Closing amount is limited – it is recorded later in this screen in the Maximum Difference Cancellation section).


Withholding Tax by Customers: This is the card where withholding tax is recorded when customers are making payments to the business and withholding tax (this card must be opened even if the business is exempt from withholding tax, for cases where customers still withhold tax despite the exemption).


Escrow Check account: The Account Card charged when receiving escrow checks. (Escrow Checks are checks the business does not receive as a payment of debt but rather for safekeeping only. Receipt of escrow checks is common for law firms, but they can be received by any type of business).


Rate Differentials in L.C/ F.C: When recording foreign exchange receipts that close Export Invoices, WizCount records the appropriate exchange rate differentials. (Rate Differentials are created because each Journal Entry must include an amount in L.C, and therefore, the Journal Entry of the Export Invoice is also revaluated in L.C in addition to the amount in F.C). This section is used to enter the Account ID for the Rate Differentials Cards.


Chance Customers: The software uses this Account Key when issuing tax invoices and receipts for Chance Customers.


Cancellation-of-small-difference maximum amount: The maximum amount that can be closed against a Cancellation of Small Differences Card, in cases where the receipt is different from the debt. For example: If you enter 10, then Debt Balance can be cancelled up to 10 NIS.


When receiving cash verify ID number if the amount is over: According to Israeli law, when cash is paid in excess of a certain amount (the current amount is 3000NIS), the payer’s ID number must be recorded. If there is a change in regulations and the amount changes, the amount in this field must be updated. WizCount applies this check on the following documents: Receipt, Receipt/Invoice and POS invoice at the register. If the amount in these documents reaches the amount listed in this section, the software will issue a notification until an ID or passport number is registered, but still allow the document to be issued. When entering an ID number, WizCount checks that the Check Digit is valid. The software does not run this check for passport numbers.


Update rate differentials when the revaluated receipt closes a specific debt: If you check this checkbox, WizCount will always revaluate local currency payment transactions to foreign currency (Revaluation from F.C to L.C is mandated by law, so it is always calculated).


Disallow receipts in temporary file: According to a strict interpretation of the Income Tax Regulations for Book Management Directives, receipts should not be left in a Temporary File. It is recommended to check this checkbox so that the software will prevent receipts from being saved in a Temporary File containing receipt records.


Match customer transactions while issuing invoice/receipt: If this checkbox is unchecked, the software will not create a match when issuing a Receipt/Invoice. The Automatic Reconciliation Software can be activated at any time to create these matches.


Select printing format for check deposit: select the proper check printing format for each bank.