About service receivables and cash receipts

Service Receivables features are available only if you have purchased the Service Receivables Add-On Module.

The 3-3-1 Cash Receipts window lets you enter cash payments for receivable invoices, service invoices, discounts for early payment of invoices, and over-payments. You can also apply credit invoices to invoices, or reverse payments.

How you enter the cash receipts determines how many ledger transactions Sage 100 Contractor posts to the general ledger. Some offices enter the payments at the end of the day, while others enter the payments over the course of the workday.

When you enter cash receipts at the end of the day, you enter all the payments and save your work. Sage 100 Contractor posts a single transaction to the general ledger. The transaction represents the day's cash deposit made to the bank, and that total is what the bank prints on your statement. Reconciling the deposit against the statement is easy because Sage 100 Contractor and your bank show one deposit for that day.

To make reconciliation easier, create a clearing account for cash deposits. In the 3-3-1 Cash Receipts window, enter the cash clearing account in the Account box in place of the cash account. At the end of the day, enter a single transaction in the 1-2 Deposits and Interest window to transfer the day's balance from the cash clearing account to the bank account. You can verify the clearing account balance returns to 0 each day. When you receive the bank statement, you then only need to clear one transaction instead of many.