Cash receipts or deposits are registered using a cash receipt journal. A cash receipt journal is a type of general journal, so you can use it to post transactions to general ledger, bank, customer, vendor, and fixed assets accounts. You can apply the payment to one or more debit entries when you post the payment, or you can apply the posted entries later.
New York, NY
Founder & CEO of iNECTA Johannes earned a BS in Computing Sciences from the
University of Iceland (1997) and holds dual Masters of Science Degrees in
Computer Science and Mathematics from the University of Miami (1999). Fluent in
English and Icelandic, Johannes enjoys singing and playing guitar, as well as
listening to rock, folk and the blues.