* AR - Receive Payments

Receiving Payments on the Receive Payments screen

Opening the Receive Payments Form

• Using the menu bar at the top of your screen, click AR/AP, then select Receive Payments.  When the Receive Payments form opens, all of the Invoice records with outstanding balances or those not marked Paid are displayed.  This allows you to apply payments or credit memo to multiple invoices for each customer.

Filling in the Header Section

• Locate a customer with the Customer Search drop-down box and press Enter.
• Dep to Acct:  Select the Un-deposited Funds account.  This can also be set to fill in automatically in the Company Setup & Preferences.  
• Note:  When a deposit slip is created later on, a specific Bank Account can be selected in which to deposit the money temporarily placed in the Undeposited Funds account.
• Date Paid:  Accept the default date or enter a new date.  
• How Paid:  Select the payment type from the drop down menu.  (i.e. Check, Cash, Credit Card, etc.) 
• Ck/Card Number:  Enter a check number or credit card number. (Enter the last 4 digits if entering a Card #)
• Exp Date:  Enter the credit card expiration date if the method of payment is a Credit Card.
• Amt Paid:  Enter the amount paid by the customer. 
• Authorization:  Enter the credit card authorization number.

Applying Payments to Individual Invoices - Manually

• In the Amt to Allocate column, enter the amount to allocate to each outstanding invoice by typing in the value or by clicking on the Pay button to automatically insert the total Current Balance to the Amt to Allocate field for each Invoice selected.

Applying Payments to Individual Invoices - Automatically

• Press the Auto Allocated button.  This will automatically enter the Current Balance amount to the Amt to Allocate field, beginning with the oldest invoice and continuing until the amount left to apply is less than the Current Balance of the Invoice (after the last full applied amount).  The remaining credit will be applied to the Invoice, even if the amount is less that the total Current Balance of the invoice.
• If you are not satisfied with the result of the Auto Allocation, you can press the Clear Allocated button to reverse the action.

Committing the Payments Applied

• No payments will actually be applied until you have pressed the Apply Payments button.  A dialog box will appear confirming "Payments were applied".

When a Customer Over Pays

Suppose a customer sends you a check for $500, toward Invoice 101.  But suppose Invoice 101 is only a $100 invoice.  In this situation you have these options:

• Option 1: You can enter the Amt Allocated as $500.  In this example this will over-pay Invoice 101, leaving a Credit of $400 extra, which can be applied to some other Invoice at a later date (using the 'Zero Payment Credit' option explained below).
• Option 2: You can apply $100 to Invoice 101 and apply the remaining $400 to 1 or more open (unpaid) invoices.
• Option 3: You can hold the check and either send it back to the customer or call for further instructions from the customer.