Receive payment

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The Receive payment feature, will automatically generate the transactions to the receipts journal for a selected transaction and print a combined receipt / payment advice (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 Customer accounts.

Credit notes - Negative amount - Debit Customer and Credit Bank accounts.

Purchases - Negative amount - Debit Vendor and Credit Bank accounts.

Supplier return - Positive amount - Debit Bank and Credit Vendor accounts.  

To Receive payments:

1.Go to Action → Open item link. The Totals tab of the Open item link screens will be displayed.

2.Click on the Transactions tab.

3.Select the account (i.e. Customer or Vendor) and right-click to select the Receive payment option from the context menu. The Receive payment screen is displayed:    

4.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 customer or vendor is displayed. Check that the correct account is selected.

d)Reference - The Document number or reference number in journals.

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 over-type this, if necessary.

g)Alias - The alias is automatically generated. It is prefixed by TR and five (5) numeric characters. You may over-type this with your own.

h)Payment method - Select the payment method Cash, Check, Credit Card or Other.

i)Print receipt - Select to print out or not to print the receipt / payment advice. If this field is left blank, no receipt payment advice will be printed, but the details of the receipt will generate a transaction in the journal 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 journal for a selected transaction and print a combined receipt / payment advice (if selected). The transaction will automatically be posted updated to the ledger. The updated posted transaction will be available in the Receipts journal.




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