Professional Documents
Culture Documents
Regular Invoice
Receivables Revenue Tax (if you charge tax) Freight Invoice with Bill of Arreas Invoicing Rule Unbilled Receivables Revenue
Debit DR
Credit CR CR CR
Debit DR
Credit CR
In all periods of Rule, for the portion that is recognized Debit Credit Receivables DR Unbilled Receivables CR Tax (if you charge tax) CR Freight CR
Invoice with Bill in Advance Invoicing Rule Receivables Unearned Revenue Tax (if you charge tax) Freight
DR CR CR CR
In all periods of the rule for the portion that is recognized Debit Credit Unearned Revenue DR Revenue CR
4 Remittances
When you create a receipt that requires remittance to your bank, Receivables debits the Confirmation account instead of Cash Debit Credit Confirmation DR Receivables CR You can then remit the receipt to your remittance bank remittance, Receivables creates the following journal entry using one of the two remittance methods: Standard or Factoring. If you remit your receipt using the standard method of remittance, Receivables creates the following journal entry: Debit DR Credit CR
Remittance Confirmation
Debit DR
Credit CR CR
If you remit your receipt using the factoring remittance method Debit Credit
Factor Confirmation
DR CR
Cash
Bank Charges Short-Term Debt
Debit DR
Credit CR
2 Credit Memos
Credit an invoice, debit memo, or chargeback Debit Revenue DR Tax (if you charge tax) DR Freight DR
Receivables
Credit
CR
Debit DR
Credit CR
Commitments
When you enter a deposit
Receivables Unearned Revenue
Debit DR
Credit CR
When you enter an invoice against this deposit Debit Receivables (Invoice) DR
Revenue Tax (if you charge tax) Freight Unearned Revenue Receivables (Invoice)
Credit CR CR CR Credit CR
Debit DR
When you apply an invoice to a deposit, Receivables creates a receivable adjustment against the invoice When cash is received against this deposit Cash
Receivables
Debit DR
Credit CR
Debit DR
Credit CR
When you enter an invoice against this guarantee Debit Credit Receivables (Invoice) DR Revenue CR Tax (if you charge tax) CR Freight CR Debit Credit
DR CR
Credit CR
5 Adjustments
Negative adjustment Write off
Receivables
Debit DR
Credit CR
Positive adjustment
Receivables
Debit DR
Credit CR
Debit DR
Credit CR CR CR
DR CR
6 On account Credits
Revenue Tax Freight Receivables (On-account Credit)
Debit DR DR DR
Credit
CR
Once the on-account credit is applied to an invoice Debit Credit Receivables (On account credit) DR Receivables (Invoice) CR
3 Receipts
When you enter a receipt and fully apply this receipt to an invoice Debit Credit Cash DR Receivables CR When you enter an unapplied receipt Cash
Unapplied
Debit DR
Credit CR
Debit DR
Credit CR
Debit DR
Credit CR
Debit DR
Credit CR
Cash
Receivables
DR CR DR CR
Earned/Unearned Discount
Receivables
Receivables uses the default Cash, Unapplied, Unidentified, On-Account, Unearned, and Earned accounts that you specified in the Remittance Banks window for this receipt class. When you enter a receipt and combine it with an on-account credit Debit Credit Cash DR Unapplied Cash CR To close the receivable on the credit memo and increase the unapplied cash balance Debit Receivables DR
Unapplied Cash
Credit CR
Cash
Receivables (Invoice)
Debit DR
Credit CR
Write Off
Receivables (Invoice)
DR CR
You set up a Write-Off account when defining your Receivables Activity When you enter a receipt and combine it with a Chargeback Debit Credit Cash DR Receivables (Invoice) CR
Receivables (Charge Back) Receivables (Invoice) Chargeback Receivables (Charge Back)
DR CR DR CR