Cash receipts should be recorded with the date the money was received. For example, a church collects money during each of its services on Sunday, June 4.

On Monday, June 5, the money is counted and is deposited into the church's bank account. The transaction to record the cash and the revenues (remember double entry) should be dated Sunday, June 4, since that is the day of the transaction—the day the church received the money.

The day the money is deposited into the bank account is not the proper date of the transaction. The accounting records should report that the money was received on Sunday, June 4.