When you receive payments from your customers, the first step is to add the payments to Accounts Receivable.
Once you add payments, you can apply them to existing invoices or set aside if a payment is a prepayment, overpayment, or if the customer has no outstanding invoices. In addition, you can also create an invoice and apply the payment to that invoice in the Add Payment window.
This field represents the customer making the payment. If tracking families, the payer lookup is by family, as all money funnels through the family's record. Click Lookup to select a name from the customer list, or enter the customer's last name and first name, or a partial name. The customer's flag status displays directly next to the lookup box when adding payments.
Select the type of payment, such as cash, check or a specific credit card, from this drop-down list.
If your organization uses a check scanner that interfaces with ACS, click Scan Check to scan the check.
In this field, you can enter the check number if the payment is by check or the confirmation number if the payment is made by credit card.
In this field, enter the payment's amount.
Each payment is assigned a sequential receipt number to match the payment's physical receipt. Use this to keep an audit trail and ensure that all payments are accounted for. To assign the next receipt number, click Next.
Auto Apply Payment
This option lets you automatically apply payments to invoices. If selected, the payment amount will automatically distribute to the invoices in the grid according to the grid's sort order. If not selected, you can manually enter the amounts to distribute to each invoice.
Month and Year
The month and year defaults to the current month and year for Accounts Receivable. You can select a different month and year, but the month and year selected posts to the General Ledger and displays on all Accounts Receivable reports.
To print receipts using the Print Receipts option on the Enter/Post Payments Window, select this option.
When you select this option and begin typing in the Description field, text from the previous entries in the session displays in a drop-down list for selection.
Enter the payment's description.
The payment date defaults to the current date; however, you can change the date, and Accounts Receivable uses the new date until you change it again.
Unapplied Amount/Invoice Wash
If the payment is an overpayment, a prepayment, or an invoice wash. select this option.
If the payment amount is greater than the amount of the outstanding invoice(s) or if the customer has no invoices, select this option. You can later apply the payment to an invoice. To learn more about this, see Applying Prepayments and Unapplied Payments to Invoices.
If the payment is a prepayment, select this option. To learn more about prepayments, see Adding Prepayments.
To automatically generate an invoice when the payment is posted, select this option. To learn more about this option, see Invoice Washes.
In the drop-down list, select the payment's Deposit (Checking) Account. This field defaults to the selected deposit account for the payment type. This is useful if you deposit payments into a separate payment account based on a customer's payment type (for example, using a separate checking account for tracking credit card payments). You can set up deposit accounts based on payment types on the Transaction Setup Tab in A/R Setup.