Purpose

Make an A/R deposit into a customer’s account.

Procedure

1. Select the customer’s account from drop-down combo-box. If there is more than one branch/location for this customer, select the correct one from the second combo-box.
2. Select the bank account the deposit should be made to. List of Bank Accounts can be setup in Banking and General Ledger module.
3. If needed, change the date of the deposit.
4. Enter the full amount of any additional bank charges (Online charge, Cheque certification, etc).
5. Enter the discount taken by the customer (the discount they are qualified to take will be shown above this line).
6. Enter the full amount of the deposit.
7. Optionally, enter a memo/note about the deposit. This may be something as simple as the type of payment(VISA/Mastercard/Direct Deposit/Cheque/etc.) or cheque number.

In order to apply this payment to individual invoices, you must select Allocate Customer Payments or Credit Notes from the Sales tab, after you have finished entering payments.

Tips and Tricks

• A reference number will be generated automatically. It is not, typically, a good idea to change/set this number manually.
• Exchange rates are applied automatically. If the wrong exchange rate is listed, you may need to adjust the following:
  1. Setup Tab->Company Setup – Set the correct currency for your company/country.
  2. Sales Tab->Add and Manage Customers – Set the correct currency for your customer.
  3. Banking and General Ledger Tab->Exchange Rates – Set/Update the correct exchange rate for the currency in question.

Bad debtors

From time to time you may experience a bad debtor, not settling his payment. Before you can write him off, your local legislations may require that you make legal effort to collect his money.

1. Create a service item e.g ‘Bad Debtor’ with no price in Items.
2. Use the same Item Tax Type as you used originally against the debtor.
3. Make a Customer Credit Note to this debtor using the service item ‘Bad Debtor’. Set the price to the same as the sub-total in the original invoice. Use write off items.
4. This will handle all GL transactions in a correct way and the tax will be counter-booked.

Prepayment

1. If the Payment Terms is set to be of type pre payment, then the days is set internally to -1.
2. This will display a due date to be the document day – 1. This is ok.
3. This way it is easy to see that the payment terms is pre payment.

Bounced Cheques

Bounced cheques are one of the most common offences plague the monetary world. You please present the cheque again and on receipt of the information about the bounce of the cheque you instantly issue notice within 30 days from the receipt of the information of bounce of the cheque to the client.

• If nothing appears on Bank Statement then just cancel the payment in accounting software.
• If both transaction (the payment and the bouncing) appear on your statement:
  • First make a payment (General Ledger/Payment) and chose customer (in Pay to) – First trick
    • Enter the date when the check bounced.
    • Need to probably use the normal Debtor account.
  • Now, deallocate the bounced payment from the invoice and reallocate it to your payment.
    • Go to Customer allocation
    • Tick the show settle allocation box. You should see the bounced payment – Second trick
    • Reallocate it (press the bank notes icon).
    • Change the amount allocated to the invoice to 0 (or press None)
    • Allocate it to YOUR payment (your payment should appear as allocatable as other invoices) – Third trick
    • Press ok.