Cash receipts and payments are bread and butter entries that feed the rest of your accounting system. The paperwork trail that starts with these journals and supporting documents is summarized ...

You record the cash payment in the cash receipts journal, then enter the cash transaction in the sales journal or in the customer's accounts receivable ledger account. The source document for your ...

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.