Customer Payments is used to enter payments made against customer invoices and credit memos originating in Invoice /Credit Memo.
This screen is also used to apply credit memos and payments that were received earlier but that you were unable to match against invoices at that time. If you receive funds for any other reason than to pay an invoice or credit memo, use Deposits to record them.
To enter an customer payment, complete the following steps:
Access the Customer Payments application from the Financial/Accounts Receivable menu and click on New in the Customer Payments List screen to enter a new transaction.
Select the Customer from whom you have received a payment and press Tab. As you enter a Customer in the Type-Thru drop box, the system will find the best match. You can also click on the down arrow at the right of the drop box to display the full list of customers. Scroll down the list until you find the desired customer and click to retrieve it for the payment. NOTE: If the customer you wish to select has not been setup in the system, you can enter the customer by clicking on the field caption to open a customer entry form.
After you select a Customer, the Class and Payment Method fields will default from the Customer's setup defaults.
The Account will default to the Company Setup Default AR Payment Account. You may change the account value. As you enter an Account in the Type-Thru drop box, the system will find the best match. You can also click on the down arrow at the right of the drop box to display the full list of Accounts. Scroll down the list until you find the desired Account and click to retrieve it for the customer payment. .
Optionally, you may enter a Reference Number or descriptive text in the Description field.
Check the Undeposited field to populate the Bank Account with the default Undeposited Funds account in Company Setup.
The Payment ID will automatically be assigned at Save.
The detail lines will be populated with all open invoices for the selected customer. Fill in the payment amount and discount amount for the invoices you wish to record as paid.
If the selected customer does not have any open invoices and you are recording a customer deposit, enter a payment amount on the first transaction detail line for the total amount of the payment.
Click on Save to save the Customer Payment. Upon Save, the Total Payments will display the sum total of the invoice paid amounts.
When the payment has been processed in the Reconciliation application, the Cleared field will display as checked.