Cash Receipts Journal

On the Accounts Receivable Main menu, click Cash Receipts Journal. The Cash Receipts Journal is an audit report used to check the accuracy of the data entered using Cash Receipts Entry. The entries reflected may include receipts against invoices, debit memos, and finance charges. Credit memos, prepayments, and General Ledger adjustments are also shown.

For cash receipts, information on the journal includes the bank code, posting date, deposit amount, customer number and name, check number and amount, discount amount, and the invoice numbers to which the cash receipts are applied. For credit card receipts, information on the journal includes the posting date, deposit amount, customer number and name, credit card number and amount, discount amount, and the invoice numbers to which the credit card receipts are applied. The amount posted to each invoice is shown, along with any outstanding balance. Totals are provided for each posting by deposit date and by division.

If the Job Cost module is integrated with Accounts Receivable, the job-related entries reflected on the journal include the job number and retention applied, if any. During the update process, the cash receipts information for job-related invoices is updated to the Job master file and the Job Billing History file. If the deposit date is in a future Job Cost period, the payment received information is updated to the future period.

Review the Cash Receipts Journal to verify your entries; prepare an adding machine tape of the checks and credit card payments posted, and check the total against the total on the journal. These totals should match.

If the deposit balance for any of the deposit dates does not balance, the out-of-balance amount prints on the report. You must correct your entries in Cash Receipts Entry before continuing with the update.

WARNING Do NOT, under any circumstances, interrupt the update process!

If the Credit Card Processing module is registered and the Enable Batch Authorizations check box is selected on the Servers tab in the Library Master Company Maintenance window, you are prompted to process your credit card transactions. The validation code is cleared and not stored anywhere after the credit card transaction is attempted. After processing credit card transactions, proceed with the Cash Receipts Journal update.

During the update process, the following occurs:

· When cash and credit card receipts entries are applied against invoices in the Open Invoice file and the Customer master file, the respective balances due are reduced in the appropriate aging categories.

· The General Ledger Daily Transaction file is updated with the Cash, Accounts Receivable, and Miscellaneous general ledger account postings. The deposit date for each deposit is used as the posting date when the Daily Transaction Register is printed and updated.

· The Monthly Cash Receipts file is updated with the cash and credit card receipts information. · The Sales Tax History file is updated with the tax collected for each tax code.

· The Deposit Transaction Report is updated with any credit card deposits.

After the update completes, you can print the Daily Transaction Register and update the general ledger entries posted from the Cash Receipts Journal.

NOTE The Cash Receipts Journal can be printed with page breaks by deposit number or deposit date if the Break Cash Receipts Journal by Deposit check box is selected in the Accounts Receivable Options window. The Cash Receipts Journal can also be printed by batch if the Allow Batch Entry for Cash Receipts check box is selected in the Accounts Receivable Options window.

The calculations that follow are performed in the order shown for each invoice processed in the Cash Receipts Journal update. The average is based on the most recent 20 invoices so that the total days (and invoice) do not become too large.