Creating Customer Receipts
Overview
The first step in the Customer Receipts process is to record the payment received. You will do this for each check, credit card charge, or ACH payment received.
Create a Customer Receipt
Enter the Customer the check was received from.
Enter the Check number in Document No. field.
Enter the Amount of the payment.
Enter the Document Date of the payment.
Update the Bank Account.
If you plan to the Bank Deposit feature, enter a GL Account to Account Undeposited Cash on the Company Setup. This GL Account must also be set up as a Bank Account.
Update the Payment Method.
Update the Payment Type.
Update the Description. It will be copied to the GL Entry’s Description field for future reconciliation purposes.
Once the Customer Receipt information has been entered, Save and Post the receipt or Save the payment to be posted later.
You can clone a Customer Receipt to create a new one to save time.
Read Creating a Customer Refund for more details on how to enter a negative Customer Receipt.
Read Process Prepayment Customer Receipts for the best practices on how to process a prepayment Customer Receipt.
To calculate AR Balance on the customer Account automatically, check Enable Cash Receipt on the Company Setup.
Review the Results
When the Customer Receipt is posted, several entries will be created as GL Entries, Customer Ledger Entries, and Detailed Customer Ledger Entries.
General Ledger Entries
The following GL Entries will be created:
Debit to the Bank Account entered on the Customer Receipt.
Credit to the Account AR Account set up in the Company Setup.
Customer Ledger Entries
A Customer Ledger Entry is created for the Customer. You'll notice the Remaining Amount of the entry is the total amount of the Customer Receipt entry.
Customer Detailed Entries
A Customer Detailed Entry is also created with Entry Type = Initial Entry.
Additional Information
You can use General Journals to record miscellaneous cash receipts without setting up a Customer account and posting through Accounts Receivable.