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.
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.
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.
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.
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.
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.
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.
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.
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.
Click Save as Recurring to save this transaction as recurring.
