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When do you receive payments? As we have discussed in the previous section that, invoices are generated when the goods or services are sold and when no money payment/partial payment is made at the time of sale. When such dues are collected such collection of dues are been recorded in the Receive Payments Object. Image Removed

A. Edit allows you to customize the view of the Receive Payments

B. Create New View allows you to create a new view and save it for future use

C. Allows you to view the Recently Created, Recently Modified and Recently Viewed payments from the dropdown menu

To record new payments click on the button New.
On clicking the button New a new windows opens as below

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First let us learn how to enter the check payment into the Receive Payments

Company receives money which is owed by customers for products and services sold.

To record new Received Payment, click on the New button to open a new page

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Select an appropriate Payment Record Type from the dropdown menu and Click on Continue button.

If the payment method is Check follow the below method

A. Select appropriate customer from the lookup field in the Account Name

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D. Select the Transaction Date and Time, by . By default on Clicking on the date and time provided besides the field, the same present date gets entered

E. Enter the amount involved in the transactionreceived 

F. Select the GL account to which the transaction needs to be affected from the lookup fieldBank Account from the pick-list

G. Select Enter the date on which you are supposed to deposit the check into the bank account

H. Change the Stage to Post if you are the authorizer /or if you are checker select Pending

Once you have entered all the relevant data Click on Save button.

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we will learn how to enter the Cash payment into the Receive PaymentIf the payment method is Cash, follow the below method

A. Select appropriate customer from the lookup field in the Account Name

B. Select the Transaction Date and Time, by . By default on Clicking on the date and time provided besides the field the same gets entered

C. Change the Stage to Post if you are the authorizer/ checker or if you are the maker, select Pending

D. Select the account to which the transaction needs to be affected from the lookup field

E. Select the date on which you are supposed to deposit the check into the bank account

F. Enter the amount of involved in the transactionreceived 

Once you have entered all the relevant data Click on Save button.

The data gets stored in and a new page is opened as under

A. AccountingBook creates a unique number to the Receive Payment transaction

B. Click Apply Payment to complete transaction

You can also Edit or Delete this transaction by clicking the related tabs.

Apply Payments page opens once you click on the Apply Payments tab in the New Receive Payment page 

In the new window, you will see the pending payments for this particular vendor appear as

A. Select the transaction or you can also select multiple transactions to sum up with the amount paid by the customer

B. Invoice number is showedshown

C. Indicates the date of transaction

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F. Click on the Apply Payment to conclude the transaction

This concludes the process of recording transaction for Receive Payment.

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A. "Edit" allows you to customize the view of the Receive Payments

B. "Create New" View allows you to create a new view and save it for future use

C. "Recently Created" Allows you to view the Recently Created, Recently Modified and Recently Viewed payments from the dropdown menu