receipts

[rgrey]

I've entering a student payment in the receipt screen and when I double check in General ledger it showing a debit and a credit for the same amount and date.

Help not sure why it doing that, and how to stop it from doing that.

[rick Prindivill]

Peachtree employs double entry bookkeeping, which means that every entry has a debit and a credit. Now what is important here are the two accounts being charged by these entries. In the case of a receipt and accrual accounting method, you would see a debit in the amount of receipt to the cash account and an offsetting credit in the same amount to the accounts receivable account.