Enter all checks, cash, ACH, and credit card slips you receive and deposit them in your checking account.
There are two ways you can account for receipts in Sage 50:
- If you sent an invoice to a customer, you apply the receipt to the invoice. Invoices entered in the Sales/Invoicing window appear as distribution lines when you enter the customer ID. You can check the Pay column beside each invoice being paid in full by this receipt.
- If you made a direct sale that didn't require an invoice, use the Receive Money screen and enter it on the Apply to Revenues tab. This requires you to specify a check number and sales account.
Note: You can enter as many as 500 lines per receipt.
When you enter a receipt, you can:
- Select the invoices to be paid on the Apply to Invoices tab or enter the line item information on the Apply to Revenues tab and have Sage 50 calculate the receipt amount.
- Enter the receipt amount and have Sage 50 select the invoices to be paid on the Apply to Invoices tab or enter the line item information on the Apply to Revenues tab. How does this work?
Use the way that works best for you. If you need to change the receipt amount or the information entered on the tabs, go ahead. Just be sure the receipt amount equals the total of the amounts on the tabs before you save the receipt.
The process of entering a receipt is different depending on whether the receipt is against an invoice or represents a cash sale.
If the sale is to a customer who is not in your database, you can enter the customer's name without keeping a record on that customer.
If the customer is making a down payment on an item, when you enter the receipt, select the Apply to Revenues tab; then select the Prepayment check box.
Manual Transactions
If your customer is paying by credit card and you are not processing the payment through Sage 50, click Record to enter the credit card information and the transaction authorization code.
Transactions Authorized through Sage 50
To authorize the transaction through Sage 50, click Process . Enter the credit card information or use a card reader to approve the credit card transaction within Paya Exchange. If you're using a card reader, you'll see an option to swipe the credit card once you are in Paya Exchange. You must have a Paya processing account set up to do this.
If the credit card payment was authorized in Paya Exchange, "(Approved)" appears below the Record and Process buttons.
Tip: You can save time by entering the customer's credit card information on the Payment & Credit tab of their customer record. The information is securely stored and appears automatically when you record or process a receipt where the customer pays by credit card.
Transactions Authorized through Sage 50
To authorize the transaction through Sage 50, click Process . Enter the bank account, routing number, and customer information to approve the ACH transaction within Paya Exchange. You must have a Paya processing account set up to do this.
Tip: You can save time by entering the customer's bank account information on the Payment & Credit tab of their customer record. The information is securely stored and appears automatically when you record or process a receipt where the customer pays by ACH.
You can use the Track It panel to update the tracking status of a receipt (pending, approved, etc.), including assigning it to a specific user or all users that have a specific role in your company.
If you see the word Uncalculated in the Balance field of the window, then the Recalculate cash balance automatically in Receipts and Payments in Maintain Global Options is currently not selected. However, you can manually update cash balance; click the link to find out how.
You can attach files, such as Word or Excel documents, to a customer receipt. How do I do this?