Receive Payments

Create Receive Payment #

• Go to Sales on the left sidebar, and select Receive Payments
• Click Add New button in the top right corner.
• The list of customers with Outstanding Invoices appears. Select the customer who is making a payment.
• Note that you cannot create “Receive Payment” if customer does not have any outstanding invoice. There are others 2 apps that let you receive money: Receipt and Misc Receive.
• On the new payment page, fill in the following fields
  • Payment number is an auto generated number.
  • Customer: the customer you choose.
  • Date: default is today.
  • Payment Method: Select customer’s payment method.
  • Amount Paid: Enter the amount of money received from the customer.
  • Reference No: optional.

• • Detail tab
    • Detail table
      • The system displays all outstanding invoices or credit notes associated with the customer. Adding new rows for other documents is not possible.
      • You are free to choose which invoices to pay by entering payment amount field, while leaving the others unchanged.
      • Read only fields
        • Due. Invoice’s due date.
        • Doc: Document type and document number.
        • Gross: Total value of invoice.
        • Open: Open amount is the remaining amount that has yet to be settled.
        • Balance: It equals Open amount – Payment.
        • Exchange Rate: The exchange rate of the foreign currency invoice.
      • Input fields
        • Payment: The input amount can be negative for credit note, sales return or deposit.
        • Discount Taken: It cannot be greater than discount available amount.
        • Write-off: Used to remove uncollectible amounts, bad debt, or trivial balances from accounts.
        • Withholding Tax: If customer deducts withholding tax from the invoice payment.

• • • Bank/Credit Card Fee: Enter the payment fee directly on the receipt to simplify bank or credit card reconciliation.

• • Account tab
    • Post with invoice breakdown: Select this option if you want to have detail of posted ledgers breakdown by invoice in transaction journal.
    • Undeposited Funds: Cash or check payments can be temporarily held in a separate account before being deposited into the bank at the end of the day or week.
    • Deposit To Account: Select bank account or Undeposited account.
    • AR Account: Auto-filled when customer is selected. However, the system typically uses the AR account specified on invoices and only applies this account if none is found.
    • Withholding Tax Receivable Account: Used to track the amount of withholding tax deducted by customers from invoice payments
    • Discount Account: Required if discount taken field is entered.
    • Write-Off Account: Required if write-off field is entered.
    • Expense Account: Used to record expenses related to bank or credit card fees.
    • Exchange Gain/Loss Account: System records foreign exchange gain/loss when exchange rate of payment and invoice is different.

• • Memo tab
    • Memo: Up to 1000 characters.
• Click Save