Post Receipts

Use this option to add and change receipts. When you enter a receipt, you can do so with or without referencing an existing receivable record.

Menu Path:  Fund Accounting > Entry & Processing > Receipts > Post Receipts

System Processing

When you post a receipt record, the system generates the following ledger transactions:

• The system updates the budget balance in the appropriate Revenue Ledger account and if a receivable was referenced, then the receivable balance is updated.
• The same entries are made in the Project Ledger if you include a project budget account in the receipt record.

• For a positive transaction amount, General Ledger balance sheet account transactions are processed as follows:

  Debit	Cash account
  Credit	GL Asset account, if a receivable was entered, or Revenue Control account, if a receivable was not entered.

• For a negative transaction amount, General Ledger balance sheet account transactions are processed as follows:

  Debit	GL Asset account, if a receivable was entered, or Revenue Control account, if a receivable was not entered.
  Credit	Cash account

• The receipt record is added to the Transaction Ledger with a Transaction Code of 24 - Post Receipts. You can track the record using the Transactions option (Fund Accounting > Entry & Processing > Detailed Displays > Transactions).