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FAQ: Can cash receipts be Reverse GAAP expensed?
Can cash receipts be Reverse GAAP expensed?
Yes. To reverse GAAP expense a cash receipt batch (applicable for Iowa school districts only), complete the following:
- From the General Ledger screen, select the Data Entry menu and then Cash Receipts.
- At the Cash Receipts Batch screen, select the Reversing GAAP field.
- Enter the cash receipts into the batch as normal.