Receipt Accounting

Three different accountings are possible in AR receipt window based on how receipt is being processed:

a) When a receipt is recorded and the customer name is not specified, then the transaction will be accounted as follows:

b) When a receipt is recorded and the customer name is specified but it is not applied to a specific transaction, then the transaction will be accounted as follows:

Cash A/c

To unidentified A/c

Unidentified A/c

To unapplied A/c

c) When a receipt is recorded and the customer name is specified and the receipt is applied to a specific transaction, then the transaction will be accounted as follows:

Cash A/c

To Receivables A/c