Cash Receipts

Cash receipts refer to accounting for the revenues and payments received from customers for accounts receivable. There is a difference between cash receipts and revenue. Revenue is a function of sales, receipts is a function of actual cash payments received by the company (sales, customer payments on accounts, refunds paid to the company etc.).

Skimming in Business

Skimming in Business

Skimming is a generic term referring to taking a little bit off the top. In dairy, it refers to the cream at the top of the milk pail. With painting, it refers to a very thin coat of paint to identify imperfections with the wallboard. In business, it means taking a little bit of the revenue without recording the revenue to the books of record. It is very common in your cash based operations.  

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