Q: What do you write in the details column in the debtors list?
A: Megan, I don't think there's any hard-and-fast rule for this, but I would say that if you don't have another column where you write the individual debtor's (customer's) specific name, then you could write their name here in the "details" column (e.g. "Mary Starr" or "Joe Blow"). If there's already a separate column for their name, then you could write any other details you feel would describe the transaction adequately under the "details" column, such as what they bought (e.g. "3 pairs of black Nike socks").
Q: Hi, When posting to the general ledger from the cash receipts journal, you post to the credit side. Is this because debtors control and settlement discount granted are considered liabilities or capital? Thank you.