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Action	Accounting Entries
Create Invoices	DR Accounts Receivables CR Revenue
Approve Automatic Receipts	DR Confirmation CR Accounts Receivables (For automatic receipts not requiring Confirmation.)
Confirm Automatic Receipts	DR Confirmation CR Accounts Receivables (For automatic receipts requiring confirmation)
Approve Remittances	Standard Remittance: DR Remittance CR Confirmation Factored Remittance: DR Factoring CR Confirmation
Clear Receipts	Standard Remittance: DR Cash DR Bank Charges CR Remittance Factored Remittance: DR Cash DR Bank Charges CR Short Term Debt
Eliminate Risk	Factored Remittance: DR Short Term Debt CR Factoring
Table 1 - 26. (Table 1 of 1)

Note: Instead of affecting the Remittance account, Receivables debits the Factoring account and credits the Short Term Debt account when you choose to factor your receipt. The Short Term Debt account is subsequently debited when you run the Automatic Clearing program to eliminate risk.

See Also

Reporting on Automatic Receipts and Remittances