How to Apply a Cash Receipt to certain GL's during posting


1 comment

  • Bao Do

    On the cash receipt apply screen, when you are applying the cash receipt to a billing there is a field to enter a discount/adjustment amount and a field for which GL account you wish to have it coded to. For example if the invoice is $100 but the client only pays $90 and you wish to book the difference to an adjustment GL account, then the resulting accounting entry recorded as part of the BCR (Billing Cash Receipt) record is:

    DR Unapplied AR 90
    DR Adjustment expense 10
    CR Accounts Receivable (100)

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