Choosing the cash and receivable accounts

When creating a sales receipt, you must specify which cash account (or card payment account) will receive the money, and optionally which receivable account is used for the sale. In most cases, Usystems defaults these accounts based on your chart of accounts setup, but you can change them if needed. Understanding these account choices is important for accurate accounting and cash management.

Before you start

• You need permission to create sales receipts.
• Understand the difference between cash accounts (bank, cash register) and receivable accounts (customer credit).
• Know which bank account, cash register, or payment method the customer is using.
• Contact your administrator if you're unsure which accounts are correct for your business.

Steps

1. On the sales receipt form, locate the Cash Account field (often in the header or accounting section).

2. Click the Cash Account field to view available accounts.

3. Select the account that will receive the payment (e.g., "Bank - Main Account", "Cash Register 1", "Card Processor").

4. Optionally, locate the Receivable Account field (this may be labeled differently depending on your setup).

5. Select a receivable account if you need to override the default. In most cases for sales receipts, this is automatic and you can leave it as default.

6. Review the selections and continue with the rest of the receipt (customer, lines, warehouse, etc.).

7. Save the receipt. The payment will be posted to the cash account you selected.

Accounting impact

• Cash Account (debited): The account that receives the money. For a cash receipt, this is typically a bank account or cash register account.
• Receivable Account (usually not used for receipts): For sales receipts, items are typically paid immediately, so no receivable balance is created. This account is mainly relevant for invoices.

Tips & common mistakes

• Match the payment method. If the customer paid by bank transfer, select the bank account. If cash, select the cash register. If card, select the card processor account.
• One account per receipt. All payments on a single receipt must go to the same cash account. If you need to split payment (e.g., part cash, part card), create separate receipts.
• Check defaults. Your system may have default accounts configured for receipts. Verify the defaults are correct for your business.
• Reconciliation matters. Selecting the correct account makes bank reconciliation easier and your financial reports more accurate.
• Don't change after save. Once the receipt is saved, avoid changing the cash account, as it may complicate accounting records. If you must change it, contact your accountant or administrator.