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Former Member
Jan 13, 2017 at 04:07 PM

Do credit memos automatically debit a cash account?


I have accrued expense: + AR account and - Cogs and now I have received a credit note to my GL. Therefore I want to credit the AR account and debit a cash account.

I can make an entry to move the $ and credit AR, but does the credit memo already debit cash when it is processed?