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Enter Payments TO your Bank

The Payments To Document allows you to enter payments received into your bank. This is usually income or interest.

Prerequisites


Working with Bank Accounts

How to create a ‘New Payment To Account’ Transaction

  1. This can be done into either a Bank, Petty Cash or Credit Card Account.
  2. Select the Account into which you wish to receive the payment.
  3. From the ‘Actions‘ drop-down menu click ‘Enter Payment To Account (e.g. Interest)‘.
  4. The ‘New Payment To Account’ Document will be displayed (shown below).

Enter Payment To Account

The steps in the diagram show how a payment is made:

  1. Click ‘Enter Payment To Account‘ in the ‘Actions‘ drop-down menu, on the associated Bank Account to display a new Payment To Account Document.
  2. A reference number is auto-assigned. See Working with Reference numbers (Ref #). You can change it if preferred.
  3. Enter the payment amount received.
  4. Enter the payment date.
  5. This is a memo for accounting purposes. See Working with A/C Memo(s).
  6. Select the associated account from the Chart of Accounts (usually an Income account) to track the payment. The default account for bank payments is set up in the Account configuration. See Configuring Accounts.
  7. Select ‘Save’.

Also Read About


Working with the Chart of Accounts
Working with Memos