Cash Receipts

Created by Travis Lander, Modified on Tue, 11 Oct, 2022 at 10:26 PM by Travis Lander

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.

Manage Cash Receipts from here:

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 - Number for the Cash Receipt (not limited by system to be unique).
Customer - Customer receiving cash from.
Ledger Account - Ledger Account used to receive cash to (alternate side from AR Account when applying Cash Receipt to Invoice). This will be the debit side of a Journal created if you have the "Post Journal" setting enabled.
Unapplied Cash Account - Account to post unapplied cash to. This is the credit side in the Journal used if there is a Cash Receipt created that has not been fully applied to an Invoice and if the 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 - Only toggle off if you will NEVER apply this receipt to an Invoice. (Note: to be able to toggle off, you'll need to have the "Post Journal on Cash Receipt Creation" 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.

Individual Cash Receipt Actions

Details - Click the Cash Receipt number to view its details.
Edit - Update Cash Receipt. Note that you can not edit Cash Receipts when the System Setting: Post Journal on Cash Receipt Creation is Enabled since the Journal Entry associated with the Cash Receipt will be in Posted status.
Void - - Void Cash Receipt.
Delete - Delete Cash Receipt.

Important Considerations

1. For Cash Receipts in Created status, you can take the following actions with the below conditions:

If the Post Journal for Unapplied Cash system setting is ON:

You can never delete Cash Receipts once created, but you can Void if any of the following are TRUE:
1. No linked payments
2. All linked payments are voided

If the Post Journal for Unapplied Cash system setting is OFF:

You can Delete if there are no linked payments
You can Void if the Cash Receipt has linked payments, but all of them are voided

Cash Receipt Table Actions

Filters - Filter what appears in the table based on one or more fields available in the table.
Saved Views - You can create a set of filters that you would like to save to be able to quickly filter a table.
Column Selector - Hide and reveal extra columns and the number of rows visible in the table per page.
Export - Table data can be exported using the export button at the top of the table.