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Free Accounting Software Forum - Cash Received Account Auto Complete

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10/01/2012
When entering Cash Receipts am presented with Capital and Expense accounts in the Account lookup combo box, in addition to Income accounts? Restricting to Income accounts may lead to less confusion.
10/01/2012
I've also received the suggestion that the account should always just be "Sales Revenue" on the cash receipt and sales invoice, and therefore doesn't need to be entered at all.

However, cash receipts and sales invoices are often entered to other accounts.

Consider your organisations first cash receipt which is usually for the raising of capital or the provision of working capital which would usually be posted to "issued capital", "loan from owner" or "sole trader equity" depending on the situation, none of which are income accounts.

Other accounts that cash receipts commonly are posted to are "deposits" or trust liability accounts where you receive funds that you hold in trust.

In any case the auto complete feature means you only have to type "sal" and you are prompted with "Sales Revenue" and you just select that option.
 

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