Misc sale on an asset
Talk to your Accountant about the correct account. If your Accountant is unable, use G/L # 238, Suspense Account or # 285, Clearing Account. Talk to your Accountant later and make a journal entry to move the amount to the correct account.
Salesperson pays for a sample
Use G/L #808 Samples Account.
Receipt of refund check from trade vendor
Use G/L #400/401 Cost of Sales – Drop Ship/Cost of Sales - Inventory, G/L #405 Purchases Returns & Allowances, or G/L #410 Freight Expense. If a credit memo with cost was issued to the customer, use G/L # 135, Drop Ship Merchandise, instead of G/L #400, Cost of Sales – Drop Ship. (If you vouch to G/L # 135.)
Receipt of refund check from non-trade vendor
Use G/L account that was used in the original vouching, see vouching journal or A/P G/L Distribution Report.
Receipt of rebate check check from supplier
Use G/L #504 Volume Rebate or G/L #506 Samples Rebate.
Personal shipping charge reimbursement
Use G/L # 410, Freight Paid on Purchases. If freight was charged for more than actual, a Bill Only should be issued and payment received in Cash Receipts.
If you received a check and are unsure what general ledger account to post it to, choose G/L # 238 - suspense account and talk to you accountant for help moving it to the correct account.
Talk to your Accountant about the correct account. If your Accountant is unable, use G/L # 238, Suspense Account or # 285, Clearing Account. Talk to your Accountant later and make a journal entry to move the amount to the correct account.
Salesperson pays for a sample
Use G/L #808 Samples Account.
Receipt of refund check from trade vendor
Use G/L #400/401 Cost of Sales – Drop Ship/Cost of Sales - Inventory, G/L #405 Purchases Returns & Allowances, or G/L #410 Freight Expense. If a credit memo with cost was issued to the customer, use G/L # 135, Drop Ship Merchandise, instead of G/L #400, Cost of Sales – Drop Ship. (If you vouch to G/L # 135.)
Receipt of refund check from non-trade vendor
Use G/L account that was used in the original vouching, see vouching journal or A/P G/L Distribution Report.
Receipt of rebate check check from supplier
Use G/L #504 Volume Rebate or G/L #506 Samples Rebate.
Personal shipping charge reimbursement
Use G/L # 410, Freight Paid on Purchases. If freight was charged for more than actual, a Bill Only should be issued and payment received in Cash Receipts.
If you received a check and are unsure what general ledger account to post it to, choose G/L # 238 - suspense account and talk to you accountant for help moving it to the correct account.