Also see:
Client Payment
Features
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Entries that
affect accounts receivable are entered into Client
Payments - including payments from clients, adjustments,
and write-offs
Entries added into Client Payments
affect client balances, unpaid client invoices, and the
general ledger at the same time. Client Payments is where
you’ll account for most of the shop’s incoming
cash.
Client payments are typically entered each day as you
receive checks from clients. Payments are added using the
open-item method, which means you’ll apply each
payment to specific unpaid invoices. Here’s how it
works: The client’s check is added, then saved. The
client’s unpaid invoices are listed by date, oldest
first. The check’s amount is applied to invoices
automatically, until the payment is fully applied. For
flexibility, you can adjust how a payment is applied to
invoices.
Client payments must be balanced, which means the
payments to invoices must equal the check’s amount.
If not, the check can’t be saved. Early-payment
discounts can be applied to unpaid invoices, which post
to a special discount account in the general ledger.
Client payments aren’t posted automatically. A new
client payment can be saved, then edited or deleted,
anytime before it is posted. Posting makes the client
payment permanent. Reports can be printed from Client
Payments showing payments made by clients for any range
of dates and an accounting period. These reports can be
compared to audit trails and journals from the G/L for
easy auditing.
To view client payments
1 Choose Accounting > Client Payments
The Client Payments window opens, displaying the last
added client payment.
To add a client payment
Client Payments should be added when you receive the
client's check. You'll track your cash better, since
deposits will be accounted for faster. Client payments
are applied to unpaid invoices. When the payment is
posted, the invoices will appear as paid. Click
here for step-by-step instructions.
To edit or delete a client payment
Client Payments can be edited, redistributed, or deleted
entirely anytime before posting. You can change the
payment's check number, date, check date, accounting
period, dGL, and description. Because a payment amount
must balance to its distribution (i.e., line items), you
can't easily change a payment's amount. You also can't
change the client number, since the payment is linked to
one client's unpaid invoices. Click
here for step-by-step instructions.
To redistribute a client payment
Redistributing a payment erases its existing line items,
which means you'll be applying the total payment amount
over again to the client's unpaid invoices. Don't
redistribute if you don't want to lose the payment's line
items. Click here
for step-by-step instructions.
To view a client's diary
The Client Diary/Call Log window lists all of the entries
users have made about interacting with the client,
whether it is a phone call or just a note (a diary entry)
about something that is going on. Click
here for step-by-step instructions.
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