Accounts Receivable: Receiving a Payment

  • By heather-holder
  • March 29, 2018

When payments are received they will need to be applied to an invoice or invoices.  This week’s blog post covers how to apply a payment when the invoice is already created.  Should you receive a payment and no invoice exists in the system you should either create an invoice prior to completing these steps or you can enter a manual deposit.  Manual deposits will be explained in a future blog post.

There are two ways to receive a payment on an invoice, the first being from the invoice itself and the second being from the ‘Receive a Payment’ screen found at Accounts Receivable > All > Activities > Payments > Receive a Payment.  We will explain the second option today.

The first thing to select when you get to the Select Invoices For Payment screen is select the payment method.  The options here are Check, Charge Card, Record Transfer and Cash.  You will then need to select the account type for which you wish to record this deposit against.  In most cases you will select a bank account her but if you prefer to hold your deposits in you Undeposited Funds Account until you can make it to the bank, this is where you will select that option.  Using the account dropdown, select the account you will be making the deposit to.

If you are working in a multi-currency environment you will be given the option to select a payment currency on this screen.  We are working in such an environment and will select USD as our payment currency.


The next step is to select the customer you received the payment from. This is a very important step in the process as this is the step in which the filter will be applied to all outstanding invoice. After you select your customer all the unpaid invoices belonging to them will be displayed in the lower section of the screen. If there are no unpaid invoices for this customer, a message will be displayed stating this. If you are in a multi-currency company, be sure you have selected the proper invoice currency. If your invoice is created in CAD but you select USD on the Select Invoices For Payment Screen your invoice will not be displayed.


The next section to focus on is the Payment Information section. You will want to complete both the Receipt date and Date on check fields prior to moving on to the Check amount field. Once the check amount is entered, some of the fields in the Available Credits and Debit Memos section may populate, depending on your settings.

If you received the full payment for your invoice you can simply click the ‘Receive Full’ checkbox on the corresponding line and click ‘Save’. You’re done!


If, however, you only received a partial payment you will want to key the amount into the Amount Received field for the invoice being paid, then click ‘Save’.


You will know your transaction has been successfully saved by the message displayed at the top of the Select Invoice for Payment screen.


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