Batching Accounts Receivables

by Tana
(Canada)

Batching Accounts Receivable

Batching Accounts Receivable

Hi there, I have a question regarding the dates you should enter if you are batching entries. We are a charitable organization that takes in donations in a variety of payment methods and batch by payment type. Currently when we date the entry we date them differently:

- donations in cheque form - we date by date of deposit in the bank
- donations in credit card form - we date by the day we called them in
- receiving a cheque from a funder - we date the date we received the cheque in the mail

I am just wondering if the rule of thumb is to be consistent and in this case keep them all the day they were processed/deposited or not

Thanks so much!

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Dec 07, 2017
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by: Stephanie

Thank you for your question regarding batching Accounts Receivable. Yes, typically the rule of thumb is to be consistent and in your case keep them all the day they were processed/deposited. The main reason for this is because it will make the process of reconciling the books to the bank much easier.

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