If you do a receipt in AR, but make an error on it and notice once it is posted (Example posted to incorrect bank account) and reverse the transaction through the Bank services the reversal transaction does not show anywhere on the report AR Customer Transactions Report.

You then post the receipt to the correct bank account and it adds it in twice on the report but no reversal

So if you do a simple check
Opening AR balance
Add Invoices
Less Credits
Less Receipts
Less adjustments
You do not get the closing balance on AR

Basically it records the receipt twice but not the reversal

by: Ian A. | over a year ago | Financial Management