Customer Invoice Payment

This transaction is used for entering customer payments against existing Sales Invoices. If you are entering a cash sale for which you have not issued an invoice, you should consider use the General Receipt option.

The starting point for creating this entry is one of the following options. View the relevant help files to see how the popup window for New Receive Money is activated:

• Directly from an invoice
• From the Bank Transactions menu
• By processing a bank statement

 

• Transaction ID: Automatically generated sequential number based on the Transaction Numbering settings for the organisation.
• Customer: Use the drop down list to select the appropriate customer. This field is automatically entered if you are processing a bank statement using an import rule or entering payment directly from an invoice.
• Reference: Enter any relevant information you may require eg. cheque number.
• Amount Received: Enter the amount of the receipt. This field is automatically entered if you are processing a bank statement or entering payment directly from an invoice, in which case you can change this amount to a lesser value if you require. You cannot save the transaction if this value differs from the Total Amount Allocated.
• Date: The date that the receipt took place. This defaults to the current date unless you are processing a bank statement in which case the system will automatically insert the the date as per the bank statement.
• Bank Account: The relevant Bank Account for the receipt. This field is automatically entered if you are processing a bank statement or entering a payment from the Bank Transactions menu.
• Type: Type of transaction being entered which should be Invoice Payment. This field is automatically entered if you are processing a bank statement or entering payment directly from an invoice. It can be changed if required.

 

A list of the customer's outstanding invoices (i.e where the outstanding amount is greater than zero) will be displayed for selection. Tick the checkbox in the first column to select an invoice for payment, and enter an amount in the This Payment column. Note that all other columns in this section are read-only and you will not be able to edit the information here.

• Transaction ID: The transaction ID of an invoice available for payment.
• Invoice Date: The date as specified on the invoice.
• Invoice Amount: The overall total value of the original invoice.
• Other Payments: The total of any payments or credit note allocations previously made against this invoice.
• This Payment: The amount of the payment being entered against the selected invoice. This amount cannot be greater than [Invoice Amount - Other Payments]. Click on this field to change the amount if required.
• Outstanding: Calculated as [Invoice Amount - Other Payments - This Payment].

 

Note that the amount in the This Payment field can be changed by clicking on the value.

Continue to select and enter a payment for as many invoices as required.

Click the Save button to complete the Customer Invoice Payment.

 

NOTES

Each invoice selected for payment results in one line posted to the Accounts Receivable account for this transaction ie. if five invoices are selected for payment, this transaction will result in five separate lines posted against the Accounts Receivable account. This is to allow you to subsequently report which invoices were paid by a particular bank transaction.

The transaction can only be saved if the Amount Received equals the Total Amount Allocated.

General Receipt

This transaction is used for entering miscellaneous receipts and cash sales for which you have not issued an invoice.

If the receipt relates to an issued customer invoice, use Customer Invoice Payment.

If the receipt relates to the refund of a supplier credit note, use Supplier Refund.

 

The starting point for creating this entry is one of the following options. View the relevant help files to see how the pop up window for New Receive Money is activated:

• From the Bank Transactions menu
• By processing a bank statement

 

• Transaction ID: Automatically generated sequential number based on the Transaction Numbering settings for the organisation.
• Customer: Use the drop down list to select the appropriate customer. This field is automatically entered if you are processing a bank statement using an import rule. Note that when the Type selected is General, the customer is an optional selection.
• Reference: Enter any relevant information you may require eg. cheque number.
• Amount Received: Enter the amount of the receipt. This field is automatically entered if you are processing a bank statement in which case you can change this amount to a lesser value if you require. You cannot save the transaction if this value differs from the Total.
• Date: The date that the receipt took place. This defaults to the current date unless you are processing a bank statement in which case its the date provided by the bank for the line item.
• Bank Account: The relevant Bank Account for the receipt. This field is automatically entered if you are processing a bank statement or entering a receipt from the Bank Transactions path.
• Type: Type of transaction being entered which should be General. This field is automatically entered if you are processing a bank statement. It can be changed if required.
• Add New Line Item: If more than one line item is to be entered, click on this button to initiate the entry of the next line item.
• Show VAT Amount: Selecting this checkbox displays the VAT Amount field for each line item. The VAT amount can be changed if required.
• Amounts include VAT: This is ticked as the default setting for General Receipts. If required, remove the tick to continue entering amounts net of VAT. Be sure to check that the VAT is correct.
• Account: Enter the account against which the receipt should be recorded. Use the drop down arrow to search available accounts or click in the field and enter free text to find matching values. If you cannot find an appropriate account, check your settings for the Chart of Accounts and create a new account if required.
• Description: Enter a description of the receipt.
• VAT Code: Select the appropriate VAT Code which should be applied to the line item (default VAT codes can be set in Chart of Accounts). The codes chosen here impact your VAT Reporting. If you are unfamiliar with VAT, it is advisable to consult your accountant or the HMRC for advice.
• VAT: Only visible if Show VAT Amount checkbox selected. The VAT amount can be changed if required.
• Amount: Line item amount.
• Delete Line: This button allows you to delete an unwanted line item if there are no validation restrictions (such as the transaction being included in a Bank Reconciliation or VAT Report).
• Memo: Enter information applicable to the entire receipt.

 

Click the Save button to complete the General Receipt.

 

NOTES

Unlike, Invoice Payments and Refunds, General receipts do not save values to the Accounts Receivable account. The Customer field in this type of bank transaction is optional and for information purposes only.

The transaction can only be saved if the Amount Received equals the transaction Total.

Supplier Refund

This transaction is used for entering supplier refunds against existing Credit Notes. If you are entering a refund for which you did not receive a credit note, you should consider using the General Receipt option.

 

The starting point for creating this entry is one of the following options. View the relevant help files to see how the pop up window for New Receive Money is activated:

• Directly from a credit note
• From the Bank Transactions menu
• By processing a bank statement

 

• Transaction ID: Automatically generated sequential number based on the Transaction Numbering settings for the organisation.
• Supplier: Use the drop down list to select the appropriate supplier. This field is automatically entered if you are processing a bank statement using an import rule or entering refund directly from a credit note.
• Reference: Enter any relevant information you may require eg. cheque number.
• Amount Received: Enter the amount of the refund. This field is automatically entered if you are processing a bank statement or entering refund directly from a credit note, in which case you can change this amount to a lesser value if you require. You cannot save the transaction if this value differs from the Total Amount Allocated.
• Date: The date that the refund place. This defaults to the current date unless you are processing a bank statement in which case its the date provided by the bank for the line item.
• Bank Account: The relevant Bank Account for the refund. This field is automatically entered if you are processing a bank statement or entering refund from the Bank->Bank Transactions path.
• Type: Type of transaction being entered which should be Refund. This field is automatically entered if you are processing a bank statement or entering refund directly from a credit note. It can be changed if required.

 

A list of the supplier's outstanding credit notes (i.e where the outstanding amount is greater than zero) will be displayed for selection. Tick the checkbox in the first column to select an invoice for payment, and enter an amount in the This Payment column. Note that all other columns in this section are read-only and you will not be able to edit the information here.

• Transaction ID: The transaction ID of a credit note available for refund.
• Date: The date as specified on the credit note.
• Amount: The total value of the original credit note.
• Other Payments: The total of any refunds or allocations against invoices previously made for this credit note.
• This Payment: The amount of the refund being entered against the selected credit note. This amount cannot be greater than [Amount - Other Payments]. Click on this field to change the amount if required.
• Outstanding: Calculated as [Amount - Other Payments - This Payment].

 

Note that the amount in the This Payment field can be changed by clicking on the value.

Continue to select and enter refund for as many credit notes as required.

Click the Save button to complete the Supplier Refund.

 

NOTES

Each credit note selected for refund results in one line posted to the Accounts Payable account for this transaction ie. if five credit notes are selected for refund, this transaction will result in five separate lines posted against the Accounts Payable account. This is to allow you to subsequently report which credit notes were refunded by a particular bank transaction.

The transaction can only be saved if the Amount Received equals the Total Amount Allocated.