0
When a customer pays their account, the transaction is recorded by debiting the cash or bank account to reflect the increase in funds and crediting the accounts receivable to decrease the amount owed by the customer. This entry ensures that the financial records accurately represent the receipt of payment and the reduction of outstanding debts. Additionally, it may also involve updating the customer’s account balance and reflecting the payment in sales or revenue reports.
What else can I help you with?
What needs to happen in account receivable when a customer pays their account?
When a customer pays their account, the account receivable department needs to put the amount of the payment into the computer. A receipt should also be sent to the customer.
What needs to happen when the customer pays on the account?
When a customer pays on an account it needs to be documented immediately and if paying in person a receipt of payments needs to be given to the person who is paying.
When a customer pays on their account is it a credit or a debit to the customers account?
debit a/r credit cash
What is a payment on account by a customer?
A payment on account by a customer happens when a customer pays a bill. For example, if a person had an account at a furniture store, each month, he or she would make a payment on their account to pay down their balance.
Is a customer's payment on account immediatly recorded in the checking account?
true
What needs to happen in account receivable when a customer pays their account?
When a customer pays their account, the account receivable department needs to put the amount of the payment into the computer. A receipt should also be sent to the customer.
What needs to happen when the customer pays on the account?
When a customer pays on an account it needs to be documented immediately and if paying in person a receipt of payments needs to be given to the person who is paying.
What needs to happen when a customer pays there account?
issue a receipt
What needs to happen when a customer pays their account in account receivables?
debit revenue and credit receibables
When a customer pays on their account is it a credit or a debit to the customers account?
debit a/r credit cash
What payment on account by a customer?
A payment on account by a customer happens when a customer pays a bill. For example, if a person had an account at a furniture store, each month, he or she would make a payment on their account to pay down their balance.
What is a payment on account by a customer?
A payment on account by a customer happens when a customer pays a bill. For example, if a person had an account at a furniture store, each month, he or she would make a payment on their account to pay down their balance.
Is a customer's payment on account immediatly recorded in the checking account?
true
What journal entry when customer pays account?
[Debit] cash / bank [credit] accounts receivable
What journal entry happens when customer pays account?
Debit cash / bankCredit accounts receivable
What is the journal entry for when a customer pays their account?
[Debit] cash / bank [credit] accounts receivable
What needs to happen in accounts receivables when a customer pays their account?
debit revenue and credit receibables
