AccountingBLOCK

longster4 · 03-24-2008, 02:18 PM

Whats the difference between Cash Receipts, Deposits, and Live Checks from an Accounts Receivable Clerk's point of view? Thanks!

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, 02:18 PM	#1 (permalink)
longster4 Status: n00b Join Date: Mar 2008 Posts: 10 Credits: 211	Cash Receipts, Deposits, and Live Checks Whats the difference between Cash Receipts, Deposits, and Live Checks from an Accounts Receivable Clerk's point of view? Thanks! __________________ Longster - NoNo

03-24-2008, 02:33 PM	#2 (permalink)
ZaddY Status: Owner/Administrator Join Date: Mar 2008 Location: Bay Area, CA Posts: 145 Credits: 4,281	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

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