Receive Money window

Use this window to record money that is unrelated to sales, for example, to record receipt of interest, rent, or to record adjustments and so on. If you’ve recorded sales using the Sales Command Centre, this window shouldn’t be used for recording customer payments. Instead, use the Receive Payments window.

You can receive money directly into an account or you can group them into the undeposited funds account. When you record a Receive Money transaction directly into an account, an individual cash-receipt transaction is recorded in the account for the transaction. When you record a Receive Money transaction into the undeposited funds account, an individual cash-receipt transaction is recorded in the undeposited funds account, from where you can create bank deposit.

Field Descriptions

Select Account

■	Deposit to Account. Select this option to record a Receive Money transaction directly into an account that is a bank or credit card account type.

■	Group with Undeposited Funds. Select this option to record a Receive Money transaction into the undeposited funds account. After you’ve grouped all of the cash receipts transactions, you can then make a bank deposit which will include the group of receive money transactions.

Balance

This field displays the current balance of the selected account.

Payor

[Optional] Type or select the name of the payor from your cards list. The transaction will appear in lists of transactions that are linked to the card.

Amount Received

Enter the total amount of the Receive Money transaction.

When you record this transaction, the balance of the chequing account or undeposited funds account you selected at the top of the window will be increased by the amount you enter here. If you enter a negative amount here, the chequing account will be decreased by that amount.

Payment Method

Select the method of payment for the transaction.

If you’ve assigned a payment method to a customer using the Payment Details view - Customer of the Card Information window, the payment method will be displayed when you enter the customer’s name in the Payor field. You can change the payment method if you want.

Details

If you’ve entered a payment method in the Payment Method field, you can click Details to open the Applied Payment Details window and enter notes and other information about the payment method.

ID #

When you begin to create a transaction in this window, this field automatically displays the next CR (Cash Receipts) number available. You can change the entry in this field if you want.

If you choose to enter a number here, consider leaving the CR prefix assigned to the number, so it’s easy for you to distinguish the transaction as a Cash Receipts Journal transaction.

Date

Enter the date of the transaction.

Memo

Enter a description of the transaction. This description will appear on various reports, as well as the Cash Receipts Journal.

Account #/Name column

If you view transactions by account number, enter the number of each account that is affected by this transaction. For example, if you are entering a receive money transaction for bank interest, select the account that you for recording interest. If you view transactions by account name, type or select the name of the that is affected by this transaction.

Name column

If you view transactions by account name, enter the name of each account that is affected by the transaction in this column. For example, if you are entering a receive money transaction for bank interest, select the account that you for recording interest.

Amount column

Enter the amount to assign to this account for this transaction. If you want to enter a debit amount in this column, enter the amount as a negative figure. Note that the total amounts in this column must equal the amount in the Amount Received field before you can record the transaction.

Job column

If you want to, enter or select a for each transaction in the list.

If you need to assign an amount from one account to more than one job, you will need to enter a separate line item for each job amount.

Memo column

Enter a description for each allocation line, if you want. You can enter up to 255 characters. This description will appear on the General Journal, Cash Disbursements and Cash Receipts reports.

Total Allocated

The amount you apply in the Amount column will accumulate in the Total Allocated field and the Total Allocated amount must equal the amount that appears in the Amount Received field in the top half of the window before you can record the transaction.

Total Received

This field displays the amount entered in the Amount Received field. The Total Received must equal the total of the Total Allocated field and the Tax field before you record the transaction. In other words, the Out of Balance field must be 0.00 before you can record the transaction.

Out of Balance

This field displays the difference between the amount in the Total Received field and the total of the amounts in the Total Allocated field and the Tax field. The Out of Balance amount must be 0.00 before you record.

Save as Recurring

Click Save as Recurring to save this transaction as recurring.

note : You still need to click Record to record the current transaction.

 

Use Recurring

Click to select a recurring Receive Money transaction.

Currency

This button shows the currency that is used for the transaction. Click to open the Exchange Rate window.

Category

If you use category tracking, type or select a category in this field.

Journal

Click to open the Transaction Journal window.

Register

Click to open the Bank Register window and view transactions.

Record

Click to record the transaction you’ve entered in this window.

Cancel

Click to close the window without saving your changes.

Tips for this window

Related Topics

■	Receiving money

■	Receiving payments