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Journal Entry Template

We almost scared to death when we try to process the client’s deposit and sales invoicing and got the funny numbers.

We spent the whole day trying to trace the mistake. It turned out that we typed AP (as in Accounts Payable) instead of AD (Advance and Deposits) on company default account setting.

In order to avoid any future mistake, we will institute a forced default account codes. That will be:

  • AP Accounts Payable
  • AD Advance and Deposits
  • AR Accounts Receivable
  • DR Disbursement Receivable

We hope that will make life better for all of us!