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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.