Description

A Cash Receipt is used to reflect a payment received for a particular Customer. A Cash Receipt is then applied directly against an Invoice in the Receive Cash tab of the Cash Management module. This is different from an AR Credit, which is created as its own document for a particular Customer, but is never applied against a particular Invoice. It's essentially a negative Invoice.

Manage Cash Receipts from this page:

Add/Edit Cash Receipt

Enter all required fields and click submit. You can also click the down arrow next to the submit button and click 'Submit and New' to open a new blank Cash Receipt to complete.

The following fields are available:

  • Type - Type of cash received: "Charge" "Check" "Wire" "ACH"
  • Amount - Total amount received
  • Description - Short text description
  • Number - Unique number for the receipt
  • Customer - Customer receiving cash from
  • Ledger Account - Ledger Account used to receive cash to. (alternate side from AR account when applying receipt to invoice).
  • Unapplied Cash Account - Account to post unapplied cash to. Only used if System Setting "Post Journal on Cash Receipt Creation(Unapplied Cash)" is enabled
  • Location - Location to post cash to
  • Currency - Currency of cash received
  • Receive Date - Date cash was received
  • Posting Date - Date to post journal entry on creation
  • Apply To Invoices - Toggle on if you plan to apply this cash receipt to an invoice at some point. Toggle off if you will NEVER apply this receipt to an invoice.

Note: to be able to toggle off a cash receipt being applied to an invoice, you'll need to have this system setting enabled:

The reason for this is that when this setting is off and you create a cash receipt, no journal entry is posted when the CR is created, so if you never plan to apply it to an invoice, there won't be any accounting impact from creating it. When this setting is on, an unapplied cash journal is created when the CR is created/updated.

Actions

  • Details - Click the Cash Receipt number to view its details. More information is available in this article: Cash Receipt Detail
  • Edit -  Update cash receipt
  • Void -  - Void cash receipt. 
  • Delete -  Delete this cash receipt
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