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Working with Payments from Customers (Money in)
The “Payment from Customers” Document has three purposes:
- Record the payment method & amount of a payment received.
- Track and apply the balances of any unused credit or payments.
- Allocate amounts from Customer Credit Notes.
When using the Action ‘Receive Payment‘ on the Customer Document, all the Sales Invoices with outstanding balances for this Customer will show.
When using the Action ‘Receive Payment‘ on a Sales Invoice Document, only this Sales Invoice will display.
How to create a ‘Payment From Customer’ Document
A ‘Payment From Customer’ document can be created either from:
- The Customer Document.
- From a specific Sales Invoice.
In both cases click the ‘Receive Payment‘ action from the Action drop-down on the main menu.
Payments from the Customer document can be applied to either some or all outstanding Invoices.
Using ‘Receive Payment‘ from the Sales Invoice will only apply a payment against a specific Invoice.
In the example below, payment is received on a Customer Document.
From the Actions drop-down menu, select ‘Receive Payment‘.
From the diagram above we will detail each step below:
- Step 1. In the Date field, enter the date of the payment when it was received, not when deposited into the Bank.
- Step 2. In the Amount Paid field, enter the actual amount received. This field is pre-populated with the total outstanding amount owed on all open Invoices.
- Step 3. At the bottom, select the invoices to be paid, by ticking the ‘Select‘ checkbox next to each invoice. The associated ‘Amount to Credit‘ and ‘Amount to Pay‘ fields become editable.
- Step 4. In the column ‘Amount to Pay’ enter the amount paid against the Invoice if it is different from the pre-populated amount.
If an overpayment was made, that credit will be added to an ‘Unused Payment’ field.
- Step 5. Click on the ‘Allocate Credit‘ tab. The currently available Customer Credit Notes will display. Click the ‘Select‘ checkbox to make the ‘Amount to Allocate‘ field editable. Enter the amount of Credit you wish to allocate.
- Step 6. To allocate the credit to the Invoice, go back to the Invoices tab and enter the $100 credit in the ‘Amount to Credit‘ field.
- Step 7. Select the ‘Payment Method‘ tab. From the Payment Method drop-down select the applicable option.
- If the payment went directly to a bank account, select ‘Deposit to’ and select the appropriate bank.
- If the payment method is a check, the Reference will be the check number. By default, the payment is sent to the Non-Deposited Funds Account.
- If the Payment was paid into the Non-Deposited funds’ account and only later deposited into a Bank Account, then the Payment cannot be edited. An error message will show if you try to edit the Payment.
- When you click on the ‘Deposit’ link in the error, it will take you to the Deposit Document on which the Payment is recorded. See Working with Deposits.
Also Read About
Processing Credit Card Payments
Working with Customers
Working with Customer Credit Notes
Working with Customer Refunds
Entering Payment Details
Working with Deposits
Working with Memos
Working with Emails