This screen is used to record receipt of a payment from a Customer. A list of customer invoices will be displayed on this screen. If the payment received refers to these invoices click on 'receive' against the invoice and enter the amount.

Many businesses batch a number of cheques together for deposit to their bank account at the end of the week. In this situation selection of the Undeposited Funds account as the "deposit to" account will assist in monitoring unbanked funds. The banking of the cheques can then be recorded as a single amount using the Bank Cash/Cheque Income transaction. Recording the deposit as a single amount has the additional benefit of simplifying subsequent reconciliation of the bank account.

For customers invoiced in a foreign currency it is necessary to provide information on the amount received in both Sterling and in the currency of the invoice to ensure proper reporting of exchange rate gains and losses.

See 'Receiving Payments Process' for more information.

Enter the date of the payment. The date can either be entered manually or selected from the pop-up calendar by clicking the  icon. The As At Date must be entered in the format DD/MM/YYYY, for example, 01/01/2000.

The bank account to which any amount should be deposited.

If you do not want to apply an item to an invoice and do not want it to appear in the list of unapplied items in future, select hide and submit.

Displays the remaining amount to be received in the invoice currency if the customer is invoiced in a different currency to the base currency for the business.

When receiving a payment against a foreign currency invoice enter the foreign currency amount represented by the receipt.

When the foreign currency amount received is sufficient to satisfy the foreign currency amount due the invoice will be closed and any exchange rate gains/losses will be calculated and posted based on the sterling value of receipts that have been recorded.

If the foreign currency amount received is sufficient to close the invoice any exchange rate gains/losses will be calculated and displayed based on the sterling value of receipts that have been recorded.

Use this flag to set the status of a receivable item to "written-off".

Note that if you are VAT registered under the standard scheme this transaction will recover the VAT of the original invoice, or a portion of the VAT if the debt has been partly settled. Current VAT legislation states that VAT on written-off invoices may not be recovered until 6 months have elapsed after the original due date.