• Cash receipts
• Entering cash receipts
• Entering sundry payments
• Entering advanced payments
• Reconciling unapplied cash receipts
• Modifying the reconciliation of receipts or credit notes
• Multiple Payment Example
• Transferring cash receipts from one client to another
• Reversing Cash Receipts
• Setting up the Cash Receipts reversal system
• To reverse a cash receipt that was applied to an invoice
• To reverse a miscellaneous cash receipt
• To reverse a client's cash receipt that was not in payment of an invoice
• Viewing Cash Receipt Journals

Cash receipts

Cash receipts are used to process cheques received for work performed. They indicate money received and deposited to the bank account. Cash receipts can be used to record sundry payments, retainers, and payment for work performed. Cash receipts can be applied to multiple invoices or can be left as a debit on the client's account. You can enter cash receipts in bulk to represent your weekly bank deposit. Enter one deposit number and one date and enter all the cheques that were part of the bank deposit under this deposit number for the date of the bank deposit. In other words, you can use one Deposit number to record cheques from multiple clients over a certain period of time.

There are 3 types of Cash Receipts:

• Regular cash receipts, which are applied directly to outstanding invoices.
• Sundry payments, like Rent, are not assigned to a client and must be applied to the general ledger instead of an invoice.
• Advance payments and retainers on account are not applied to invoices. When an invoice is generated, you must perform an account reconciliation to apply the advanced payment to the invoice.

Related Topics

Entering cash receipts

Modifying or deleting cash receipts