The cash receipts journal is an important way to track any cash you receive in exchange for a product or service. You will use the cash receipts journal if your company uses the accrual accounting ...

The amount of cash receipts in an accounting period is the money a company collects from the sales it makes in current and previous periods. A business typically collects a percentage of its sales in ...

Concerns over divergent practices for reporting on the statement of cash flows led to FASB’s issuance of a new standard for presenting and classifying certain cash payments and cash receipts.

F or many years, the IRS clashed over the cash method of accounting with small business taxpayers who provided services as the mainstay of their business but who were categorized as inventory ...

While every public company uses accrual basis accounting in its financial reporting, it’s not the only bookkeeping standard out there. Cash basis accounting also has practical applications in business ...

Another major issue in revenue accounting is when to recognize or record the revenue. A common practice is to record the revenue when we receive payment (cash) from the customer. This is referred to ...

The CRT is used by the department to record deposit information in NU Financials. After the prepared bank deposit is deposited at the bank, it will match electronically to the Committed CRT and post ...

The Office of Accounting and Financial Services is solely responsible for the collection and control of all University related cash receipts. All cash receipts must be deposited through the Office of ...

Internal controls are necessary to prevent mishandling of funds, safeguard against loss and protect employees from inappropriate charges by defining responsibilities in the cash handling process. The ...

Everyone in the UB community has the responsibility to safeguard cash and cash equivalents. This policy provides guidance for the administration of and internal controls over university cash handling ...