The Receive payment feature, will automatically generate the transactions to the receipts batch for a selected transaction and print a combined receipt / payment advise (if selected). The transaction will automatically be posted updated to the ledger.
It will generate the transactions as follows:
•Invoices - Positive amount - Debit Bank and Credit Debtor (customer / client) accounts.
•Credit notes - Negative amount - Debit Debtor (customer / client) and Credit Bank accounts.
•Purchases - Negative amount - Debit Creditor and Credit Bank accounts.
•Supplier return - Positive amount - Debit Bank and Credit Creditor (supplier / vendor) accounts.
To Receive payments:
2.Click on the Transactions tab.
3.Select the filter options and click on the Filter button to populate the transactions according to your criteria.
4.Select the account (i.e. Debtor or Creditor) and right-click to select the "Receive payment" option from the context menu. The "Receive payment" screen is displayed:
5.Enter and Select the following options:
a)Date - The Operating System (e.g. Windows) date will automatically be displayed in the "Date" field. Enter the date or select the date, if necessary.
b)Bank account - Please make sure that the correct bank account is selected.
c)Receiving from - The account code is disabled. The name of the debtor (customer / client) or creditor (supplier / vendor) is displayed. Check that the correct account is selected.
d)Reference - The Document number or reference number in batches.
e)Description - The default description is Payment follows by the Document number.
f)Amount - The default outstanding amount of the selected transaction is displayed. You may overtype this, if necessary.
g)Alias - The alias is automatically generated. It is prefixed by TR and five (5) numeric characters. You may overtype this with your own.
h)Payment method - Select the payment method Cash, Cheque, Credit Card or Other.
i)Print receipt - Select to print out or not to print the receipt / payment advise. If this field is left blank, no receipt payment advise will be printed, but the details of the receipt will generate a transaction in the batch entry screen.
5.Click on the OK button.
6.Click on the OK button of the parameters screen. The transaction for the receipt will automatically be inserted into the Receipts journal from which this option was initiated. An example, is as follows:
7.Click the Cancel button of the parameters screen.
The Receive payment feature, will automatically generate the transactions to the receipts batch for a selected transaction and print a combined receipt / payment advise (if selected). The transaction will automatically be posted updated to the ledger. The updated posted transaction will be available in the Receipts batch.
To view and print the "Batch type report - Posted batch" for the create receipts transaction:
1.Open the Receipts batch linked to the Bank account selected on the "Receive payment" options screen.
2.Click on the Posted batches tab.
3.Select the batch transaction on the Batch entry tab.
The "Alias (batch name)" is auto generated as the Receipt number / Payment number.
4.Double-click on the selected transaction. The debit and credit transactions will be displayed on the Details tab.
5.Click on the Print button to print the "Batch type report - Posted batch" report for the transaction.
If a creditor (supplier / vendor) account, with a normal credit balance, is selected on the "Receive payment" option in the Transactions tab of Open item link, it will generate posted transactions in the "Receipts batch" linked to the selected Bank account.
The debit and credit transactions would be exactly opposite than that of a debtor (customer / client) account with a normal debit balance.