Sales

To receive a payment (Receive Payments window)

The Receive Payments window should be displayed.

Note:  You can subscribe to the MYOB Merchant Account Service to process credit card payments directly from AccountEdge

  1. Choose to deposit the payment in a bank account, or group it with your undeposited funds if you want to make a deposit later. (Deposit to Account or Group with Undeposited Funds)


    If you choose Deposit to Account, enter or select the account in which you want to deposit the payment.
    Note:
    Choose your undeposited funds account for customer credit card payments and credits
  1. Enter the customer's name. Default entries will appear in a number of fields. Review the date, in particular, and change it if necessary.


  2. Enter the amount received. You can enter a payment method, if you like, and you can add detailed payment information, for example, a check or credit card number, by clicking the Details button.


    If you're entering a credit card payment, be sure to select a payment method so you'll be able to identify this transaction later in the Prepare Bank Deposit window.
    If you're using multicurrency and the customer has been assigned a foreign currency, the payment amount must be in that currency. You can review and update the exchange rate for this transaction by clicking the Exchange Rate button.
  1. Enter a short, descriptive comment in the Memo field if you like. This information will appear on a number of reports.


  2. Use the Amount Applied column to indicate which sales are being paid. Depending on your choices in the Preferences window, the payment may be applied automatically for you. You can change these default entries if you like.


    If the customer has overpaid you, simply enter the full amount in the Amount Applied column. A customer credit will be created automatically when you record the payment. You can either apply the credit to a future sale or print a refund check for the customer. (Settling customer credits)
    If you're ready to pay all of the transactions that have Open status, click the Receive All button. The amounts required to do this will display automatically in the Amount Applied field and the Amount Received field in the upper portion of the window.
  1. If the customer is eligible for early payment discounts, they will appear in the Discount column. You can change these amounts if you like. (Working with discounts for prompt payment)


  2. If the customer owes a finance charge, you can enter that amount in the Finance Charge field.


  3. If you subscribe to the MYOB Merchant Account Service, you can authorize the payment


  4. When the payment has been fully applied (the Out of Balance field is zero), click Record.


    If the customer overpaid you, a message will appear to alert you that a credit memo will be created for the customer. Click OK.

For each cash receipts transaction you record, a corresponding payment receipt can be printed. (Printing payment receipts)

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