This article explains how to receive payments from your customers when they have open invoices.
In order to receive payments, please follow the next steps:
Go to A/R (Accounts Receivables)>>Receive Payment.
Search for the customer (or group of customers) for whom you want to apply a payment. Notice that you can also search by order #. Select the payment date, method, and check number. Then, enter the amount to be paid and write notes if you need to.
Payment Date Restrictions
The system allows restricting users to edit the payment date. This option can be enabled from Setup User Options.
Click on Apply in the orders for which you want to apply the payment. Once you click on Apply, in the order line will appear the Payment amount. If the total of the amount entered for this payment has not been applied, the system will display the Overpayment amount. Notice that there is a button called Auto Apply Payment which will automatically apply the payment amount entered starting with the oldest invoices.
- When a discount may be applied based on the payment policies set up in the Accounts Receivables Settings and the Customer Account "Advanced" Setup, the system will show an information icon next to the Discount column.
- The system allows identifying who processed a payment from the Payment History tab>>Processed By column. That column will be hidden by default, so click on the gear gray icon and select "Processed by".
- Click on the invoice number to see the details of the order.
Receiving Payments in Multilocation Companies
While receiving payments in Multilocation Companies, you must select the Location that will be associated to the payment. Initially, all the invoices associated to the customer will be displayed, but notice that there is an additional filter (Only invoices associated to this location) which will display only the invoices that belong to the selected customer and location. Follow the steps explained above to apply a payment.
Once the payment has been applied, you will be able to filter by Location from the Payment History screen. The system will list only the Payments associated to the selected location.
Receive payments with the Multicurrency option enabled
If for any reason, the currency of the customer is different from the company's currency and it has been set up, the system will display the payment information in both your company's currency and your customer's currency, along with the exchange rate set up at the time of the transaction. Users will enter the payment amount in your company's currency, and the system will indicate the exchange rate and the amount in the customer's currency. The balance column will also display this information.
Roles enabled to perform this action: Accounts Receivables, Admin, Cashier.
Payment Date Before Invoice Date
Keep in mind that the Receive Payments screen won't list invoices having dates after the Payment Date.
Applying Payments to Already Paid Invoices
The system allows users to apply payments to already paid invoices. If this is the case, you must search for the specific order number and a warning message will appear, informing that the order has payments already applied.