Miscellaneous Cash Receipts

Miscellaneous Cash Receipts are used to post payments received from sources other than a customer, and are posted in AR Cash Receipts.

Other sources may include job or equipment expense refunds, over-the-counter sales, or short-term investment dividends. For job expense refunds, a Job Cost line can be posted, allowing you to credit the job expense account and debit the bank account at the same time. The same can be done with Equipment expense refunds.

The Miscellaneous Cash Receipts transaction lines screen differs from that of the Payment transaction. Check amounts are not applied to existing invoice transactions; each transaction line is entered as a new item, allowing you to specify the description of the payment and to specify the GL account affected by the application. Additionally, if the Post Taxes on Receipts option is selected in AR Company Parameters, you can post taxes to transaction lines, if desired. Taxes are generally used with this type of transaction when posting over-the-counter sales for which a sales tax is required.