You may receive payments from debtors for their accounts via the electronic banking system. The transactions for debtors with outstanding transactions and balances will be transferred into the Receive Debtors screen, where you may select the debtors and outstanding amounts you need to receive from the debtor ‘s bank accounts.

The debtors which have open or outstanding amounts will be listed. The (outstanding amount) balances are transferred to an intermediate account or clearing account on the date of the transactions.

Once the payment is cleared at the bank (on the due date) payment is received into the bank account it will appear on the bank statement. When you allocate the transaction on the bank statement, the intermediate account or clearing (account contra account) will be credited.

To Receive Debtor Accounts:

1. Click on the Batch Entry icon, or click on the Input→Batch Entry menu option.
   - Keyboard Access: Press the F2 key on your keyboard. Alternatively, press the Alt+I+B keys on your keyboard.
   The Batch Type Selection screen will be displayed.
2. Select the General Jnl (or other) Batch Type.
3. Click on the Open button. The batch entry screen for the selected General Jnl (or other) Batch Type is displayed:
   
   
4. Click on the F9: Process icon, or press the F9 key on your keyboard.
   The Process the batch options screen is displayed:
   
   
5. Select the Receive Debtors option, and click on the OK button. The Receive screen is displayed:
   
   
6. Select and enter the following:Select and enter the following:
   1. Use invoice ref - Select to use the Invoice Reference as entered in the Your Reference field of the Document Entry Details screen.
   2. Contra Account - This is basically a clearing account for the payments received from debtors.
      - It is recommended that a general ledger account, which is linked to the Current Assets Account Group be selected.
      
      
   3. From - Enter or select the date from which you need to process payments for Debtor accounts.
   4. To - Enter or select the date until which you need to process payments for Debtor accounts.
      - TurboCASH will list the transactions for the debtor accounts created on and until the selected dates. After selecting (or reselecting) the dates, click on the Refresh (”Ververs”) button to update the listed transactions with the date selection.
      
   5. Create Clieop File - If you select this option, you need to specify the name for the Clieop file.
      - The clieop file is a general accepted file format that can be read into a bank program for payments.
      
      
   6. Account Number - Enter the bank account in which the payments will be received.
   7. Payment Date - Enter or select the date for which you need to process payments for Debtor accounts.
      - TurboCASH will generate the transactions on this date to the intermediate account or clearing account (Contra Account), and calculate the due days as specified in the Due days field on the Edit→Accounts→Debtor (Accounting Information tab).
7. Check that the payment information and outstanding amounts for each debtor is correct.
   - If you do not wish to receive a payment from a debtor at this stage, deselect (remove the tick) the Export field next to the selected debtor. If the Export field is not selected, no transactions will be generated for the debtor and the debtor will be excluded from the Debtors payment report.
   
8. Click on the Print button to generate a Debtor Payment report for all debtor accounts with outstanding amounts (balances) for which the receive transaction field was selected.
   - The report will be sent to the FastReport Preview screen. You may click on the Print button of the FastReport Preview screen to print the report, and click on the Close button to close the Preview screen.
   
   
   
9. Click on the Update button. All debtor accounts with outstanding amounts (balances) for which the receive transaction field was selected, will be imported into the selected batch (journal).
10. If the Clieop file field was selected, the Save as screen will be displayed if you click on the Update button of the Receive Debtors screen.
    
    
11. Select the directory in which you need to store the file and specify the name for the file.
    - The default file name is Clieop followed by the date (YYMMDD - format) with a *.dat file type or format.
    
    
    
12. Click on the Save button to save and generate the Debtor receipts report.
13. When you close the report, the transactions will be generated and imported for all debtors selected as receive transaction. An example of the Debtor payment report is as follows:
    
    
14. Once finished, change the reference number, as generated by TurboCASH, with your own reference numbers (e.g. cheque number or electronic payment reference as it would appear on your bank statements). An example of the Creditor payment report is as follows:
    
    

Once you have finished entering all the transactions in the selected batch, you need to: -

1. Click on the F5: Balance icon, or press the F5 key on your keyboard, to balance the batch.
2. Click on the F9: Process icon, or press the F9 key on your keyboard, to change the alias (batch name).
   - This will help you if you wish to identify a specific batch to generate a batch type report, or if you wish to export posted batches to a file.
   
   
3. Click on the F8: List icon, or press the F8 key on your keyboard, to list the batch.
   - It is a good idea to list the batch, and check the entries on the batch thoroughly. If there are any errors, you may edit the batch, before posting the batch.
   
   
4. Click on the F6: Post icon, or press the F6 key on your keyboard, to post the batch.

After posting the transaction, the T-Account View of the transactions should reflect as follows:

1. Debtor’s Ledger:
   
   
   The debtor accounts are credited with the balance or selected amount to pay. If these amounts are the same amount as per outstanding balance on the date of the transactions, the debtor accounts should have a zero balance in respect of the selected transactions or balances.
2. General Ledger:
   
   The total amount receivable from all debtors via the bank account, is debited to the current assets suspense account (e.g. Electronic Payments - Debtors account).

- Debits - General Ledger (Assets - Control Account) = Credits - Debtor’s Ledger

Once this electronic payment received appears on your bank statement, you need to allocate the transaction to this account in the Receipts Journal.

Once the Receipts Journal is posted (updated) to the ledger, this current assets suspense account (e.g. Electronic Payments - Debtors account) will reflect a zero balance for the transaction concerned.

- Debits - General Ledger (Assets - Bank) = Credits - General Ledger (Assets - Control Account)