Cash Receipts and Receipt Schedules

Once a transaction has been raised, the next step in the receivables cycle is collecting payment. FAR models this with two entities: Cash Receipts record incoming payments, and Receipt Schedules reconcile those payments against outstanding transactions.

Cash receipts

A Cash Receipt records a payment received from a customer. Each receipt captures:

Receipt code — auto-generated, human-readable identifier
Receipt date — when the payment was received
Receipt amount — the payment value
Receipt currency — the currency of the payment
Receipt type — CASH for standard payments, MISC for miscellaneous receipts

Receipt status

Receipts move through a lifecycle tracked by status:

Status	Meaning
`UNAPP`	Unapplied — received but not yet matched to a transaction
`APP`	Applied — fully matched to one or more transactions
`UNID`	Unidentified — received but the customer is unknown
`NSF`	Non-sufficient funds — the payment failed
`REV`	Reversed — the receipt has been reversed
`STOP`	Stopped — processing has been halted

Additional details

Receipts can also carry:

Customer and site-use references — linking the receipt to a specific customer and billing location
Bank account — the customer's bank account the payment came from
Remittance bank account — the receiving bank account
Exchange rate details — exchange rate type, rate, and date for multi-currency receipts
Reversal information — date, category, reason code, and comments when a receipt is reversed

Receipt schedules

A Receipt Schedule is the reconciliation record that bridges transactions and receipts. Each schedule entry tracks:

Field	Purpose
Schedule status	`OP` (open) or `CL` (closed)
Receipt class	Classifies the type of receivable (see below)
Due date	When the amount is due
Amount due original	The original amount owed
Amount due remaining	What is still outstanding
Amount applied	How much has been applied from receipts
Amount adjusted	Any adjustments (write-offs, discounts)
Amount in dispute	Amounts the customer is disputing

Receipt class

The receipt class distinguishes different types of receivable entries:

Class	Meaning
`INV`	Invoice
`DM`	Debit Memo
`CM`	Credit Memo
`CB`	Chargeback
`RCT`	Receipt

References

Each schedule entry can reference:

Customer and site use — which customer and billing location the schedule applies to
Customer transaction — the transaction being settled
Cash receipt — the receipt being applied
Payment terms — the terms governing the due date and instalment structure

A schedule with status OP represents an outstanding obligation. When payments are applied and the remaining amount reaches zero, the schedule transitions to CL (closed).

Accounting events

Cash receipts and receipt schedules raise subledger accounting events at key points in their lifecycle:

Action	Event class	Journal effect
Cash receipt created	`AR_RECEIPT`	Debit Cash, credit Unapplied
Receipt schedule created (receipt applied to transaction)	`AR_RECEIPT_APPLICATION`	Debit Unapplied, credit Receivable, plus realised FX gain/loss
Receipt status → `REV` (reversed)	`AR_RECEIPT_REVERSAL`	Debit Unapplied, credit Cash (reverses the original receipt)

Realised FX gain and loss

When a receipt is applied to a transaction that was raised in a different currency or at a different exchange rate, the subledger calculates the difference in functional currency between the receipt amount (at the receipt rate) and the receivable amount (at the invoice rate). If the receipt yields more functional currency, a realised gain is recorded; if less, a realised loss is recorded.

See Create Accounting and Transfer to GL for the full journal entry structure.

Authorisation

Both cash receipts and receipt schedules follow the standard FAR authorisation pattern. Access flows from the parent customer record.

Cash receipts​

Receipt status​

Additional details​

Receipt schedules​

Receipt class​

References​

Accounting events​

Realised FX gain and loss​

Authorisation​

Further reading​