Receiving payments

Sales > Receiving payments

Receiving payments

When customers make payments against invoices, you record the payments in the Receive Payments window. You can record the payments against one or more of the customer’s outstanding invoices. If you don’t want to create an invoice for a customer, you can enter the customer payment in the Receive Money window. See Receiving money.

You can also record payments from your customers in the Bank Register window. If you have several customer payments and don’t want to record detailed information (such as payment methods and discounts) for each payment, the Bank Register window can save you time. Note that when you use the Bank Register window for customer payments, the entire payment is automatically allocated to the oldest invoices first.

You cannot use the Bank Register window to enter credit card payments using the MYOB Vendor Payments service. For more information, see Entering transactions in the Bank Register window.

note : Customer payments at point of sale

If customers make payments when purchasing merchandise or services and you are issuing them an invoice, you can enter the payment amount in the Paid Today field of the invoice. See Enter additional information about the sale.

The options for recording receipts and invoice payments are summarized in the following diagram.

MYOB Merchant Account Service

If you subscribe to the MYOB Merchant Account Service, you can authorize and process credit card payments when you receive invoice payments. For more information, see Processing credit card payments using MYOB Merchant Account Service.

To record payments against invoices

1

Go to the Sales command center and click Receive Payments. The Receive Payments window appears.

2

Select the account you want to deposit the payment to.

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Deposit to Account. Select this option to select the required bank account.

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Group with Undeposited Funds. Select this option if you want to include the payment in a bank deposit. For more information about undeposited funds and preparing bank deposits, see Bank deposits.

3

In the Customer field, type or select the customer’s name.

If you have no record of any sales to this customer, a message window appears. Click OK and ensure you’ve selected the correct customer.

4

Type the amount received.

5

If you want to record the payment method, select the method in the Payment Method field. Click Details if you want to enter further details about the payment. For example, if you are being paid by credit card, you can record the credit card number and expiration date.

6

Change the memo text and payment date if you want. You can change the ID number that is automatically generated. However, we recommend that you use the default number to make sure you don’t use duplicate IDs.

7

In the scrolling list in the bottom half of the window, indicate which sales are covered by the payment by entering amounts in the Amount Applied column. If the customer is paying a deposit for an order, the Status column will show Order.

A

Discount

If you intend to offer an early-payment discount for a sale, assign the discount to the appropriate invoice in this column. Note that you won’t be able to assign a discount to an invoice that is not being settled in full. If you want to give the customer a discount, you can give them a customer credit. See Customer credits.

B

Amount Applied

Enter how much of the customer payment you want to apply to each sale in this column.

C

Finance Charge

If part of the payment is to pay finance charges, type the finance charge amount here. See Finance charges paid by customers for more information.

D

Out of Balance

The amount you apply in the Amount Applied column will accumulate in the Total Applied field. The Total Applied amount (plus finance charges) must equal the Amount Received value and the Out of Balance amount must be zero before you can record the transaction.

If a customer overpays, the full amount should still be entered in the Amount Received field and in the Amount Applied column. When you record the payment, a credit invoice for the overpaid amount is created automatically. This can either be refunded to the customer or applied to a future invoice. For more information, see Settling credits.

8

[Optional] If you use the MYOB Merchant Account Service, you can process a credit card payment using the service. For more information, see Processing credit card payments using MYOB Merchant Account Service.

9

Click Record to record the customer payment.

Related topics

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Entering sales

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Settling credits

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Printing payment receipts


A	Discount	If you intend to offer an early-payment discount for a sale, assign the discount to the appropriate invoice in this column. Note that you won’t be able to assign a discount to an invoice that is not being settled in full. If you want to give the customer a discount, you can give them a customer credit. See Customer credits.
B	Amount Applied	Enter how much of the customer payment you want to apply to each sale in this column.
C	Finance Charge	If part of the payment is to pay finance charges, type the finance charge amount here. See Finance charges paid by customers for more information.
D	Out of Balance	The amount you apply in the Amount Applied column will accumulate in the Total Applied field. The Total Applied amount (plus finance charges) must equal the Amount Received value and the Out of Balance amount must be zero before you can record the transaction.