Now that Sales and Accounts Receivable has been recorded. Certainly, the next thing is to know how to process customer payments.
In QNE, record your Payment Collections in the Cloud Accounting System through the Receive payment form, and easily record partial and full payments from your debtors that were made for certain particular invoices which are outstanding or due.
From the Navigation Pane, click Account Receivable, then choose Receive Payments. Next, click the ‘Add’ button to record a new collection.
In the Receive Payment form, select first your ‘Customer Account’. ‘Deposit To’ will follow whichever Default Account is set. Modify according to which actual Cash or Bank Account the payment will debit to. Input the Doc Date, and overwrite the defaulted Agent if needed.
Input the Reference Number, and Bank Charges if there are any, and change the system default Transaction Description.
Next, input the collected amount in the field provided.
On the lower part, which is the Knock-off tab, is where all Outstanding Invoice or Debit Notes for the selected Customer Account are listed.
Toggle On the ‘Match’ option to which Document the collection will be applied to, input the Amount, then SAVE.
For partial payment, it can be visibly seen that the remaining unpaid amount is reflected in the ‘O/T’ (Outstanding) Column.
If the collection is for Multiple Invoices, toggle on or click match, for each Invoice/Debit Note to knock-off and input the amount of collection accordingly.
As a helpful function, ‘Pay All’ option is available which allows users to toggle on or match every single outstanding Invoice in case collection will be matched to all.
To view Journals Posting of the transaction, click the ‘GL Journals’ icon besides the Doc Code.
To preview your transaction in a printable format, click the Preview button which opens another browser tab.
Proceed to perform your desired action whether to print the report or export it to a different file format.
