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Question from Vibin on Oct 2 at 12:28 PM Doubt regarding accounting postings of incoming payment while processing of electronic bank statement processing:
While customer billing, the accounting entries
Custmer a/c Dr
Revenue a/c Cr
when we receive cheque from the customer, the accounting posting is
bank clearing a/c Dr
Customer a/c Cr
while electronic bank statement processing, for incoming payments, there will be 2 accounting eyries, one in posting area1 and other in posting area2.
Posting area 1:
Main bank a/c Dr
bank cleaing a/c Cr
Posting area 2:
bank clearing a/c Dr
Customer a/c Cr
My doubts here is that, the accounting entries highlighted above(entries in posting area 2 and entries while cheque received from customer)is duplicate entries, and how system handle this.
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