Customers with Open Sales Documents

When Customer invoices have been issued then there will be subsequent receipts. It is good practice to both record the receipt and deposits promptly. To make this as efficient as possible the system provides a dedicated receiving payment transaction accessed via the Sales Receive Payments menu option. All unpaid Invoices are displayed in the lower Invoices section, outstanding credit notes and other un-applied items, such as miscellaneous deposits or payment items are displayed in an upper Un-applied Items section.

This screen is used to display a list of customers that have open sales documents; invoices and credit notes. Select a customer to receive a payment by clicking the customer line.

A list of open documents is displayed.

Receipt

Enter the amount received. This may be a net amount with the value of credit notes or other unapplied items deducted. On moving to the next field the value of the amount received appears in the To Apply field. This is the amount, which needs to be applied to invoices. The Balance field displays the balance on the customer account after any amount shown in the Received field. Apply the receipt to an invoice by clicking on the box to the left of each invoice(s) or unapplied item(s). If the payment is for one or more invoices then tick those boxes. When the To Apply shows as zero, click on SUBMIT to complete the transaction.

Received Date

The default date is to-days date. Amend the date as necessary.

Deposit To

This field is used to select where the payment is to be deposited. By selecting a particular bank account, the receipt will appear in the bank reconciliation as a unique item. It may be, however, your practice is to bank several cheques at the same time. In this case the bank statement will show the aggregate amount. In order to have the same aggregate amount appear in the system bank reconciliation screen, deposit the receipt to Cash/Undeposited Receipts (select from the drop-down). Then use Bank Takings to record the details from the actual bank paying slip of the multiple cheques and cash actually deposited to the bank. This value will then appear in the reconciliation screen and will match the item shown on the bank statement.

Sales - Cash/Card Takings - Bank Takings

Reference

Enter Reference information if desired.

Memo

The Memo field defaults to a 'Receive Payment' description. This can be changed or amended as required.

Allocating Receipts for a foreign currency Customer

The invoices show the currency amount as well as the sterling translation Enter the sterling amount in the Receipt Box and also select the bank account in the Deposit To drop-down box. If a Credit note or an unapplied item is to be allocated to this receipting process, click the boxes in the left hand side. Finally click the invoice that is being paid. The Amount Received Box, displays the Amount Due, this must be edited to the sum of the received amount plus the value of any credit notes so that the To Apply field is zero. To complete the transaction and automatically post any exchange gains or loss to the profit & loss account, enter the total currency amount in the FX Received box (to signify that that it is not a part payment). The exchange gain or loss is displayed. Click SUBMIT to record the transaction including the exchange gain or loss to the Foreign Currency Trading Gains/Losses account in profit and loss

Part Payment of an Invoice

If there is a part payment applied to a particular invoice then the system records the balance still due, and the invoice continues to appear in the receive payments screen and in all other outstanding invoices reports and screens. Please note that it is possible to treat a part paid invoice as paid by amending the Terms drop-down to Paid in Full and selecting a bank account, however this is not recommended as, particularly for entities using Cash based VAT schemes, this may distort the dates used for VAT returns.

Overpayment of an Invoice

Occasionally there may be an overpayment applied to a particular invoice. There are two solutions; either to raise a payment transaction to refund the overpayment, or place an entry as a liability in the particular Customer Account. The transaction will be visible in the relevant Customer Account. If you chose to refund by enter the Date and select a Bank Account. If a customer makes a payment twice for the same invoice, after the first receipt is allocated the invoice will no long display for the second receipt to be allocated against. In this case use the Receipt transaction.