Receive money

Money received in any way by a business is a receipt. Before one can be recorded, at least one cash account or bank account must be established. The corresponding Bank Transactions or Cash Transactions tab must also be enabled.

Basic receipts

Once at least one cash or bank account exists, receipts are recorded in the Bank Transactions or Cash Transactions tabs by clicking on New Bank Transaction or New Cash Transaction and selecting Receive money:

14 PM OR

36 PM OR 03 PM

Complete the entry:

Remaining fields are self-explanatory or are covered in other Guides. The completed form can be given to the Payer as a receipt:

Receipts against sales invoices

Receipts from customers against sales invoices can be entered two ways:

As a basic receipt

To enter a receipt against a specific invoice, post it to Accounts receivable, the Customer, and the Invoice:

Partial receipts

When receiving money for only part of the balance due on a sales invoice, post the transaction as above, but enter only the amount actually received. Manager will credit the partial amount against the sales invoice and show a reduced balance due. No other special steps are necessary.

Receipts for multiple sales invoices

When receiving money from a customer for multiple sales invoices, leave the Invoice dropdown field blank. Manager will allocate the receipt against the sales invoice with a balance due with the oldest due date first, then the next oldest, etc. However, if the receipt is designated for specific sales invoices, add lines and designate amounts for those invoices individually.

From a sales invoice

To record a receipt while viewing a sales invoice, click on Receive money and select the transaction type:

11 AM

A receipt entry form will appear. Select a bank or cash account. The remainder of the form will be prefilled with information to enter the full amount due on the sales invoice. If the receipt is for only part of the balance due, edit the amount received by adjusting quantity or unit price.

Other situations

You are not restricted to using only simple income accounts to post receipts. For example, if money is received from a business owner set up under the Capital Accounts tab, select the matching capital account and subaccount:

Inventory and non-inventory items can also be directly sold using receipts. For more information on selling without sales invoices see this Guide.



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