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Receipts

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A receipt signifies a payment received by your firm and deposited into your bank account.

Creating Receipts:

  • Navigate: Access the Revenue Management App.
  • Click “Receipts” Tab: This opens the list view of all recorded receipts.
  • Create New Receipt: Click the “New” button to initiate a new receipt entry.

Receipt Fields:

  • Customer: Use the lookup icon to search for and select the client associated with the payment.
  • Receipt Date: The system automatically defaults to the current date. You can modify this by clicking the calendar icon and choosing a different date.
  • Bank Account: Utilize the lookup icon to identify the specific bank account where the payment was deposited.
  • Credit GL Account: Select the appropriate general ledger account for crediting the received funds.
  • Amount: Enter the currency amount received in the payment
  • Method of Payment: Choose the payment method used by the client (e.g., EFT, Wire Transfer).

Receipt List View:
This view displays a record of all entered receipts within the system.

Receipt Functionality Buttons:

  •  Apply/Unapply: This button allows you to manage the allocation of the received payment towards outstanding invoices.

Applying Receipts:
Clicking “Apply/Unapply” opens a dedicated screen for applying the receipt amount:

  •  Top Block: Displays details about the customer and the receipt itself.
  •  Filter Invoices (Second Block):
    •  By default, invoices for the same customer as the receipt are displayed.
    • You can refine the displayed invoices using additional filters:
      •  Customer (optional; allows searching for invoices from different clients)
      •  Billing Number
      •  Date Range
    • The third section presents three sub-tabs for applying the receipt:
      •  Apply to Invoices: Lists all invoices matching the filter criteria. Enter the applied amount for each invoice to allocate the receipt funds.
      •  Apply to Billing Lines: Provides a more granular view, allowing you to apply the receipt amount to specific line items within chosen invoices.
      •  Unapply Receipt: This sub-tab serves for unapplying previously allocated receipt amounts.

Important Note:

A single receipt can be applied to multiple invoices.

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