Posting a Receipt

Use the Receipt command on the Action menu of the Customer form to record details of payments received from customers. You can also allocate the receipt against outstanding transactions for the customer, and mark transactions as being disputed. If you do not want to allocate a receipt at the time of posting, select the On Account option. You can allocate it later using the Allocate command.

To Post a Sales Receipt

  1. Open the Sales Ledger folder and then click Processing or click the Financials tab and then click Sales Ledger - Processing on the Ribbon Bar.

  2. Retrieve the customer record for which you want to post transaction details, click Action and then click Receipt. The Post Customer Receipt form appears.

  3. In the boxes provided, enter the receipt details.

  4. Click OK.

Note:

- Select the On Account option to post the receipt to the account without allocation.

- Select the Advance option to post the transaction to the next accounting period (available if the Allow Advanced Postings option is selected on the Sales Ledger - Utilities - Set Options form).

- Select the Overpay by... or Underpay and clear invoices(s) options as necessary if the receipt is either an overpayment or underpayment, and it includes settlement discount.

- If the Customer is set up for Settlement Discount and has VAT Return Reduction By set to 'VAT Adjustment' on the Sales - Processing - Terms form, then where a balance remains when fully allocating the receipt, the Settlement Discount VAT Adjustment/Write Off form is automatically displayed and you can enter a Write Off amount. If the Customer is not set up for Settlement Discount, then where a balance remains when fully allocating the receipt, you are offered a choice of 'Write Off', 'Discount' or 'Cancel'.  Select the 'Write Off' option to include a write off adjustment for an underpayment.