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Thread: Journal - Customer cash payment

  1. #1
    New Member
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    Oct 2015
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    Journal - Customer cash payment

    Hi there,

    I apologize if this is a silly query, but can anyone help with the following:

    One of our customers paid cash for an order. Our sales rep used a portion of this money to make a purchase (cost of sales). I want to know how to go about to capture this on the system.

    I entered the purchase made by the rep under petty cash (2000/010). Obviously the difference between this and customer's payment will be deposited into the company's bank account.

    Do I credit the customer via a journal as follows or will this cause the bank to not reconcile:

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  2. #2
    Full Member
    Join Date
    Oct 2014
    Cape Town, Muizenberg
    Thanked 1 Time in 1 Post
    Its important that you allocate the full amount given to the customer's account
    Take cash from petty cash(purchase amount) and bank it together with the balance of the payment in other words you will bank the full amount given by your customer into your company's bank account. Process the purchase(slip) in petty cash
    Your petty cash & bank account will reconcile

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