2 Deposits and Cheques
From TrueERP wiki
Deposits and Cheques
Where are these types of entries normally done?
In most cases these entries would be done through either the customer payment window or the supplier payment window.
Customer Payment
Have you been shown how to process a Customer Payment?
Within the Payments tab you are able to post payments to the customers account. Once an invoice has been created and goods or services are shipped, the invoice will appear within Customer Payments as outstanding monies by Invoice. When payments are received from a Customer either by direct payments or as Prepayments they must be applied to the customer account within ERP to update the customers Account Balance. The Accounts Receivable report (Or Debtor, Aged Trial Balance) is automatically updated when payments are made to a customers Account.
How to enter Customer Payments:
Click on the Customer Payment button in the Payments tab.
Select a Customer / Job from the drop down menu Select the Amount that the customer is paying Select a Payment method Select an Invoice that the payment is to be applied to. Click Save
Supplier Payment
Within the Payments tab you are able to post payments to your Suppliers account. Once a Purchase Order has been created and
goods or services are received, the Supplier invoice will appear within Supplier Payments by your Purchase order and the Supplier
Invoice. When payments made either by direct Payments or as Prepayments they must be applied to the Suppliers account within
ERP to update Suppliers Account payable balance. The Accounts Payable Report is automatically updated when payments are made
to a Suppliers Account.
How to enter Supplier Payments:
Click on the Supplier Payment button in the Payments tab.
Select a supplier from the drop down menu Select the Amount that you are paying or tick the apply box to enter the full amount automatically. Select a Payment method The Amount Outstanding for your Purchase Order/ Supplier Invoice will have changed to the balance outstanding Click Save to complete the payment.
Deposit Entry
The Deposit Entry allows the user to enter funds that have been received without attributing the payment to a Customer account within ERP, e.g. Bank Interest received; OR a miscellaneous cheque payment may be received that you need to account for within your banking/cashflow records, but it is not for an invoice issued to a Customer.
How to use Deposit Entry
Select the Banking tab Select the Deposit Entry button
The Deposit Entry screen will load Select the Account you wish to Deposit the funds in to, e.g. Your Bank Account Enter the amount of the funds deposited, e.g. $25.00 The Date will auto load with the date of entry, this can be manually altered if required The Deposit No will auto load with the next number in sequence
Select the 'From Account' account from the Account list drop-down, e.g. Bank Interest Enter the deposited amount, e.g. $25.00 (deposit payments can be split across different accounts if required, therefore each line entry should add up to the Deposit Total) Select the 'Payment Method' from the drop-down list Enter a Reference if required If you use Departments, select the relevant Department from the drop-down, otherwise leave it as 'Default'.
Select the Customer or Supplier the payment was 'Received From', e.g. Commonwealth Bank Enter any notes relating to the deposit to assist for future reference. Select SAVE to save the deposit and close the screen. OR Select PREVIEW to view the deposit template before printing. OR Select PRINT to Print a copy of the Deposit and auto Save/Close the deposit entry. OR Select CANCEL if you wish to exit the Deposit without Saving it.
To delete the Deposit after it has been saved, open the Deposit from the Deposited List and tick the 'Delete' box in the bottom right corner of the deposit and select SAVE.
The Deposit will now be listed in the 'Deleted Deposits' list within the Deposited List.
Cheque
The Cheque button allows you to design and print your cheques directly from the system this will allow you to maintain a better audit trail of the cheque numbers. A cheque does not update quantities of products. It is a payment made to a supplier updating a particular account (in Chart of Accounts). You can still manually write out your cheque and enter the cheque number into the system.
How do you create a Cheque?
Select the Account that the cheque is to be written from eg. Bank account Select Company Name the payment is to be paid to Right Click to Memorise this transaction for future use if required In the To field you can enter an address if field does not populate directly
Select the Date of the cheque Select Rep for person authorising payment In the Cheque Total field enter amount of cheque
If set in preferences, Cheque Number will be generated, if not, enter the cheque number Enter Reference No. such as an invoice or bill number Payment No. will be generated automatically Select the Account Name from the drop down menu
Enter a Tax Code from drop down codes (If tax code is applied to an account it will auto load) Enter the Amount Add a Memo that can further assist in defining the payment Enter customer/job number if payment is to be assigned to it Add any Comments than can be attached to payment advice Add Internal Comments that will not be seen by other parties
If you require to Attach an external document to this transaction, such as a copy of an invoice, you should drag the file from its location and drop here Check that Sub Total, Tax Total & Total Amount are correct
Select New button to save existing cheque and create another cheque Select Save button to save and exit Select Preview to preview cheque and print Select Print to print cheque to selected template Select Cancel to cancel cheque without saving Select Add to E.F.T. to transmit payments via the EFT system. This can be setup by selecting the tick box Cheque and Payments add to EFT by Default in Utilities=>Preferences=>Payments in the General area
To view the Cheques entered select the Cheque List Button
