Understanding the Process to Enter General Ledger Receipts

When you receive a check that is not associated with a tenant's account, such as a refund check from an insurance company or a rebate, you can enter the check by entering a general ledger receipt using the RE Receipts Entry program (P15103). A general ledger receipt enables you to credit the appropriate general ledger account and include the amount in the bank deposit.

You enter the general ledger receipt exactly as you enter an unapplied receipt; however, because the receipt is not associated with a tenant, you do not complete the Customer or Payor fields, nor do you display invoices to pay. You enter the information about the receipt and then select an option from the Form menu to enter the general ledger information, such as the account and distribution amount. You can distribute a receipt to as many general ledger accounts as required as long as you distribute the entire amount.

After you enter general ledger receipts, you must post them to update the bank and the general ledger accounts.