Cash Receipts
Use cash receipt transactions to record the individual receipts that make up one deposit. Each deposit can consist of many receipts.
Cash Receipts and the Invoice Lookup
For Cash Receipt transaction entry, the Invoice lookup does not display credit memos. Instead, the original invoice balance includes any credit memo amounts. If Allow Cash Receipts for Other Companies is selected and you use Intercompany Billing in conjunction with detailed subledgers, the Invoice lookup for cash receipts entry does not display intercompany invoices that belong to other companies. To enter receipts for such invoices, you must do so from the company that owns the receivable.
Cash Receipt Notes
- You usually enter an accounts receivable account when you enter a cash receipt. The accounts receivable account can correspond to a specific invoice category to break out the receipts by category (labor, fee and reimbursable, for example).
- The debit for a cash receipt posting is the general ledger account assigned to the bank code for this transaction.
- DPS recognizes interest entered on an invoice when you enter and post the cash receipt. Therefore, you must enter any payments for interest charges separately from the actual invoice amount.
- If a client is paying interest, the interest amount should be listed on its own detail line.
- Unless specified otherwise in Settings, you can only post transaction files that are in balance.
Posting
During a cash receipt posting, DPS:
- Credits explicitly the amount specified on each detail line to the specified account (typically, an accounts receivable account).
- Debits implicitly the total cash receipt amount to the bank account using the bank code specified for this cash receipt (typically, account 101.00)
- Adds the receipts to the expense detail table so they display on the Accounts Receivable Ledger report.
Cash receipts post the realized amount to either the realized gain or realized loss account as defined in Accounting company settings. DPS determines whether to use the gain or loss account depending on the difference in exchange rate between the initial invoice posting and the cash receipt posting. If the accounts payable amount is worth more at the time of the cash receipt, this would be a credit to the realized gain account.
The cash receipt will clear any unrealized balance in either or both the unrealized gain and unrealized loss accounts. The cash receipt posting might clear both an unrealized gain and unrealized loss account (assuming that the exchange rate has been fluctuating during gain and loss processing on the invoice).
Upon cash receipt for the receivable invoice or cash disbursements for the payable voucher, whatever account was selected to compute unrealized gains or losses before cash actually exchanged hands, that account will be cleared out as part of the process to compute the realized gain or loss.
Posting Log
Use a posting log to view information about a batch of transactions. DPS produces a posting log each time that you post a transaction file.
In addition to the posting log, DPS generates a General Ledger Summary for cash receipts. This report lists the general ledger accounts that were affected by the posting. The report shows the total amounts debited and credited to each account. If the Tax Auditing option is enabled in , tax-related fields also display on the report.
Multiple Companies
If you use multiple companies, you can enter invoice receipts for all portions of a project that you have permission to bill. This includes all projects owned by the active company (as long as they are not part of a billing group owned by a different company), and any projects from other companies that are part of a billing group owned by the active company.
In addition, you can enter invoice receipts for all of your projects if the Allow Cash Receipts for Other Companies option is selected on the Accounting tab in . If you do not select this option, you can enter invoice receipts for only those portions of a project that you have permission to bill. If Allow Cash Receipts for Other Companies is selected and you use Intercompany Billing in conjunction with detailed subledgers, the Invoice lookup does not display intercompany invoices that belong to other companies. To enter receipts for such invoices, you must do so from the company that owns the receivable.
If you use Intercompany Billing in conjunction with detailed subledgers to generate intercompany invoices, and you enter a cash receipt against an intercompany invoice, DPS automatically fills in the intercompany accounts receivable account for the transaction.