Free Accounting Software + Tax Returns, BAS, Bookkeeping and Payroll from Free Accounting Pty Ltd

Free Accounting Software Forum - Whats the difference between Sales Invoice and Cash Received?

Back to all forums
15/07/2014
Hi, under receivable worksheet, I'm just wondering when you would use cash received as opposed to sales invoice? Is there much difference between the two?
17/08/2014
A sales invoice is for when you issue an invoice to your customer. The customer then later pays you based on the invoice.

After you receive the money from the customer you can issue a Cash Received pdf to confirm that you got the money. When doing this enter the cash received on the receivable worksheet so that you can allocate the cash received to the previous sales invoice.

If for some reason your customer has already paid you then you can skip the sales invoice step and just enter cash received on the cash worksheet and post it to the sales revenue account. This could be appropriate when you have a cash register and are entering daily takings or the customer pays on a "recipient created tax invoice".
 

Post a New Message

You must be logged in to post a message.