what is the difference between cash sale and customer receipt.does it give the same sense of meaning

Hello Friends, can any one give me little idea how to do bank reconciliation at sage 50. small help will be great?

Best Answer

  • Rebeccascott
    Rebeccascott Registered, Tutor Posts: 39
    Answer ✓
    Hello Durga

    The title of your post is somewhat different to the content of your post. I will address the title.

    A cash sale is a sale where money is received from the customer immediately. This can be by cash, cheque, card etc. The name 'cash sale' is a little misleading as it is a sale that the customer pays for immediately using any form of payment method (not just cash).

    A credit sale is a sale where the customer does not pay immediately. When the customer does eventually pay, it is called a customer receipt.

    Kind regards
Privacy Policy