What are Cash Receipts?
Cash receipts are those transactions where the business has received cash – including currency, coins, check, electronic cash payment.
How it Works
Typically, a business receives most of its cash from two sources.
It will receive cash from sales.
The business will deposit these takings in the bank.
It will also receive cash from customer payments.
Again, the business will deposit this money in the bank.
In the days of manual accounting, you would record these transactions in the cash receipts journal.
© R.J. Hickman 2020