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Aug 17, 2019 7:15 AM UTC
Question

When categorising bank transactions, if a customer purchases a product (a kitchen in our case) by BACS, is it a deposit or sales receipt?

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1 reply

Rustler
Aug 20, 2019 11:21 AM UTC

The method of payment is immaterial, BACS, cash, CC, Check, etc

 

Whether it is a deposit or not is determined by your agreement with the customer, if this is a full purchase price being paid, then it is a sale and you use an invoice or sales receipt