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What is the difference in entering cash receipts in the cash receipts journal as opposed to doing it within the general journal?
Kevin
Hi, The only advantage I see in separating them is that there is a Source Code in General Ledger Entries, which makes it simple to filter out the source of the breakdown.
More details: https://yzhums.com/14730/
Hope this helps.
Thanks.
ZHU
Really no difference. It is just that the cash receipt journal is designed so it should be more efficient to enter the cash receipt in that journal.
Some users prefer to use the general journal for all G/L transactions and that works just fine.
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