In this guide, we will be going through receiving payments for both Sales and Billing invoices and the differences in how payments are made for both.
Note: Make sure you have added the GL Account of your bank in your Chart of Accounts if you haven’t done so yet.
Payments per Invoice #
When receiving payments per invoice, go to the listing screen and click on the drop down icon beside the transaction you will be receiving a payment for.
- Click on the Receive Payment option
- In the Receive Payment screen, click on the plus or add icon.
3. Set the payment date to when the payment is received.
4. Enter the amount that is paid by the Customer. This can be in full or a partial payment.
5. The Payment Account option lets you select which account you plan to debit or deposit the payment.
5. Select a mode of payment and details of the payment mode.
6. After completing the details of the payment. You may review the summary of the payments as well as the accounting entries generated.
Receiving Batch Payment #
Aside from receiving payments for individual invoices, you may also receive payments from customers who wish to settle multiple invoices at once.
1. Click on the Receive Batch Payment icon located at the upper right hand-most corner.
2. Select the customer to show a list of invoices with outstanding payments
3. Select the invoices from the list and review amount to be paid per each invoice.
4. You may also apply partial payment to specific invoices.
Receipt Voucher Entries #
After entering the details of the batch payment, you can review the accounting entries for the receipt voucher
