Receiving Money

Receiving Money (6467)

You use the Receive Money window to record payments and apply them to invoices. Unlike the Invoice window, where you can receive payments only for the current invoice, the Receive Money window allows you to work with payments from different customers and to apply a single payment to several invoices.

Most of the time, you receive payments for items you have sold to customers. On some occasions, however, you may receive payments from other sources--refunds, for example. You also use the Receive Money window to record these payments. See "Receiving Miscellaneous Payments," later in this section, for information.

Receiving a payment from a customer consists of several interrelated steps?choosing the customer, entering payment information, and applying the payment to invoices. You can optionally add comments with special information about the transaction.

If you need to see bookkeeping information, click the Posting Information button in the window. See "Viewing Payment Posting Information," later in this chapter, for details.
When you save the Receive Money window, the payment amount is credited to the Undeposited Funds account specified in the Banking Preferences window. You need to use the Deposit window (available through the Banking toolbar) to deposit the funds. See "Making Deposits" in Chapter 6 for details.