Maintenance Tasks

9.2.3 Account Maintenance: Journal Entries – Receivable Paid

In 9.3 ACCOUNT MAINTENANCE: RECEIVABLES, we created a debt from Perpetual of Distributions Receivable.

To enter a payment received from a debtor, we enter a Journal to DEBIT the bank (adding the amount received) and CREDIT the Accounts Receivable account (in this case, Distributions Receivable).

JournalEntries_ReceivableReceipt

Follow this example for all entries of Receipts from debtors.


about the author:

Lorraine Cobcroft

With a background in accounting and financial management, followed by two decades writing software documentation, Lorraine joined the Mclowd team in mid-2016 and is enjoying working with a dynamic team to enhance an innovative product that has the potential to revolutionize the way Australians manage their retirement funding. Lorraine is also an accomplished business writer, ghost-writer, novelist and short-story writer and poet.

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