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GL Entry Examples

Lease Amortization Line Type = Initial Entry

Shipping State != Texas

GL Accounts

Debit

Credit

Lease Receivable Account

668.94

Product Revenue Account

668.94

Shipping State = Texas

GL Accounts

Debit

Credit

Comments

Lease Receivable

668.94

Product Revenue

668.94

Sales Tax Payable

Sales Tax Receivable

Lease Amortization Line Type = Monthly Entry

GL Accounts

Debit

Credit

Accounts Receivable

18.35

Lease Receivable Account

11.40

Interest Income Account

5.55

Sales Tax Payable Account

1.4

Lease Amortization Line Type = Cancellation

GL Accounts

Debit

Credit

Write-off Account

634.45

Lease Receivable Account

634.45

Lease Amortization Line Type = Discount

GL Accounts

Debit

Credit

Discount

Sales Tax Payable

Accounts Receivable

Lease Amortization Line Type = Down Payment

  • Debit Accounts Receivable

  • Credit Lease Receivable

  • No labels