CASH RECEIPTS JOURNAL MANUAL
CASH RECEIPTS JOURNAL CODE
CASH RECEIPTS JOURNAL SERIES

To record deposit of receipts in the proper accounts and revenue sources. Undistributed Receipts Account (Account 01R): To record reversal once the proper account and revenue sources are identified. To record deposit of moneys pending identification of the proper account and revenue sources. Undistributed receipts-account and/or revenue source not identified

CASH RECEIPTS JOURNAL CODE

Refer to Subsection 85.22.50.Д¬ash Expenditures/Expenses (6510) or other GL Code as appropriate To record the deposit of an AFRS ACH expenditure payment that was returned electronically to the state. Recording receipt of returned AFRS ACH payment To record the subsequent collection of an NSF check for which an adjustment was posted (refer to Subsection 85.24.50) and which is deposited with a Cash Receipt Journal Summary (A8). Subsequent collections of non-sufficient funds (NSF) check The agency is to forward a copy of the Journal Voucher to the Office of the State Treasurer for final clearance of Account 01P and reduction of cash in the Operating Account. Operating Account (originally recording receipt of NSF check):Д¬ash Revenues (3210) with Revenue Source Code (0940) Deposit Adjustments and Returned Checks or the revenue source code used in the initial deposit. The agency prepares a Journal Voucher to clear the receivable in Account 01P and record the NSF check in the operating account. Operating Agency - Suspense Account (Account 01P): The agency is to prepare a Cash Receipt Journal Summary (A8) debiting/crediting Account 01P and submit it to OST. To record redeposit of NSF check within a day or two of its return by the bank. Option 2 would be used if there were a delay before redeposit of the NSF check. Option 1 would be used when the agency is in a position to redeposit the NSF check within a day or two of its return by the bank. Upon receipt of the Cash Receipt Journal Summary (A8) from OST, the agency clears receipts in-process and establishes a receivable for the NSF check in the Suspense Account (Account 01P).ДЇurther entries depend on circumstances. The following entries illustrate the recording of the adjustment for a non- sufficient funds (NSF) check that was initially coded as revenue in a Treasury account. Recording adjustment for non-sufficient funds (NSF) check Note: The entry assumes a cash shortage and would be reversed for a cash overage. To record cash over or short (refer to Subsection 85.20.10.d):Д¬ash Revenues (3210) Revenue Source Code (0490) - Cash To record the deposit of cash revenues (refer to Subsection 85.20.10.e):Д¬ash Revenues (3210) (with appropriate revenue source code)

CASH RECEIPTS JOURNAL MANUAL

Refer to Section 85.15 of this manual for illustrations of budgetary entries to record and adjust estimated revenues. The entry would be reversed for In-Process debit amounts.

CASH RECEIPTS JOURNAL SERIES

Entries posted to GL Code Series 71XX вЂњIn-ProcessвЂќ in treasury and treasury trust accounts also require an entry from the Office of State Treasurer (OST), as illustrated below, to clear the In-Process GL Codes.Д¬urrent Treasury Cash Activity (OST Only) (4310) The entries are for illustrative purposes only and should not be considered all inclusive. The entries in this section illustrate the recording of revenues and cash receipts in the accounting records. These entries are for illustrative purposes

Revenue and Cash Receipts - Illustrative Entries Leave your questions, queries and suggestion in comment box below.85.24 - Revenue and Cash Receipts - Illustrative Entries This is how you can create 'Cash Receipt Journal' in Business Central. Click on Search icon and type Customer Ledger Entries. You can find its effect on Customer Ledger Entries.Click on Post/Print -> Post to post this journal.Applies-to Doc No.: Select the relevant invoice for which you want to pay.Applies-to Doc Type: Type of document for that this journal line is posted like Invoice or Credit Memo.

Account No: Select the specific account from where amount is deducted like GIRO Bank.

Account Type: Type of account that balancing entry is posted to, like Bank Account or Cash Account.

Account Type: Type of account that the entry on journal line, for Customer receiving select Customer.

Document Type: Type of document that the entry on journal line, for Customer receiving select Payment.

The posted sales invoices open for the Accounts Receivable department to close (apply) when payment is received. The Cash Receipt Journal is a general journal that is optimized for receiving payments.

Cash receipts journal