Receiving money

In your software, the term receiving money specifically refers to recording receipts other than payments relating to invoices. These receipts include capital injections, interest, adjustments, and so on. These can be entered by selecting the Receive Money transaction type in the Bank Register window.

The Receive Money window lets you record more details about the receipt and allocate the receipt to more than one account. This is the procedure covered in this section. To use the Bank Register window—which lets you record a receipt with minimum details—see ‘Entering transactions in the Bank Register window’.

If you want to record a payment for an invoice entered using the Sales command center, use the Receive Payments window or select the Receive Payment transaction type in the Bank Register window. See ‘Receiving payments’ for more information.

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

Printing and emailing payment receipts

You can print and email payment receipts for payments entered in the Receive Money and Bank Register windows.

Credit Card Processing

You can process credit card payments from customers directly from your software. With the Merchant Account Service, you can authorize customer credit card payments online using your software. For more information, see ‘Set up Credit Card Processing’.

To record money you receive

Go to the Banking command center and click Bank Register. The Bank Register window appears.

In the Type field, select Receive Money from the list provided. Click Split to open the Receive Money window.

Choose one of the following:

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Deposit to Account—In the Deposit to Account field, type or select the required bank account.

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Group with Undeposited Funds—Choose this option if you want the deposit to be recorded in the undeposited funds account. After you have grouped all the deposit transactions you want, you can make one bank deposit for all the undeposited funds. For more information, see ‘Bank deposits’.

In the Payor field, type or select the payor’s name.

In the Amount Received field, type the amount received.

[Optional] In the Payment Method field, select the payment method.

If you selected Check as the payment method and additional field Check # appears. You can enter the check number without having to click the Details... button.

[Optional] If you want to record additional details about the transaction, such as a check number, click Details and record the details in the Applied Payment Details window that appears.

[ Merchant Account Service users only] If you received a credit card payment, process the credit card payment. For more information, see ‘Credit card payments using Merchant Account Service’.

Type the date of the transaction.

[Optional] Type a detailed comment in the Memo field to help you identify the transaction later.

Allocate the amount to the appropriate accounts.



A	Type or select the account to which you want to assign the deposit.
B	Type the amount you want to assign to each account. The total amount in this column must equal the amount in the Amount Received field before you can record the transaction.
C	[Optional] Assign the amount to a job by entering the job code here.
D	[Optional] Type a memo for each line item you enter in the transaction.

If the payment covers more than one account, repeat step 12 on a new transaction line.

If you want to assign the transaction to a particular category, select a category from the Category list. For more information about categories, see ‘Tracking financial information’.

tip : Save the deposit as a recurring transaction

To store the transaction as a recurring transaction so that you can use it again, click Save as Recurring. In the Edit Recurring Schedule window, enter the necessary information and click Save. For more information about creating and using recurring transactions, see ‘Recurring transactions’).

Click Record.