Closing Out Accounts Receivable After the Cash is Collected
We are a small non profit soccer team and generally run the books on a cash basis. Occasionally we we bill a school for soccer lessons. The coach sends out a manual bill and I create an invoice to remind me when it is past due. The invoice was issued on April 30 2018 for $4,340. The money was collected on July 10 , 2018. I cant seem to close it out. I have attached the bank reconciliation that shows the $4,340 is still outstanding. I have also attached my attempts to close out the transaction. Thank you in advance for your help.