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).


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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