AccountingBLOCK - Accounting Forums - View Single Post

ZaddY · 03-24-2008, 02:33 PM

Cash Receipts - This is the way of receiving cash from customers/debtors/etc. It can include cash, lockbox transaction, or "live check". This is more like an event when you get cash in some sort of way in your hands, not the bank.

Deposits - This is when money is deposited dirctly to your bank account. Like fund transfers (i.e. ACH transfers, lockbox transactions, or wire transfers) or just depositing money in the bank.

Live Checks - an actual check received by the company. You then have to go deposit the check in the bank.

03-24-2008, 02:33 PM	#2 (permalink)
ZaddY Status: Owner/Administrator Join Date: Mar 2008 Location: Berkeley, CA Posts: 160	Cash Receipts - This is the way of receiving cash from customers/debtors/etc. It can include cash, lockbox transaction, or "live check". This is more like an event when you get cash in some sort of way in your hands, not the bank. Deposits - This is when money is deposited dirctly to your bank account. Like fund transfers (i.e. ACH transfers, lockbox transactions, or wire transfers) or just depositing money in the bank. Live Checks - an actual check received by the company. You then have to go deposit the check in the bank. __________________ Zahid H. Lilani