Hi -
The owner of my company goes to the caribbean - he comes back and tells me an account paid him cash and I should "credit" the account -
He wants me to issue a credit memo (but don't put "cash received" on it)
I want to show it for what it really is - a cash payment on account, not a credit for discount, returns, shortages, price differences, etc - and I don't want to get fired or in trouble with the IRS
Is issuing and posting a credit instead of showing CASH received LEGAL and an accepted bookkeeping / accounting method?
Thanks
Howard