USA Stupid question re: bank deposits and revenue


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It seems to me that the total of the revenue deposits (deposits from customer payments), made to a company's bank(s) and merchant accounts should equal cash basis revenue. True? Thanks for your input.
 
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Samir

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It should, but keep in mind that any processing delay in the deposits will make that revenue a very short term receivable. This is important at the end of the year when you'll have revenue that hasn't been deposited.

We use clearing accounts like Cash on Hand and CC Recv to keep track of these.
 

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