Record payments on account

If a customer sends you a payment, or you send a vendor a payment, and you don't have an invoice to allocate it to, you can record this as a payment on account. You can then use the payment on account at a later date to pay off an invoice. See Allocate credit notes and payments on account for more information.

If you or a customer have overpaid an invoice, you can record the payment against the invoice as normal and the extra amount as a payment on account.

If you have set up check printing, you can print checks from the Check Register. For more information about printing checks, see the following topics:

To record a customer payment on account

  1. Go to Banking.
  2. From the New, and then click Sale/Receipt.
    Note:

    You can also create a new receipt directly on the Banking page. If you choose to enter the receipt from here, you must select the correct bank account when entering the receipt details.

  3. Click Customer Receipt and complete the following information:
    Customer *Choose the customer who has made the payment.
    Paid into Bank Account *Check the correct bank account appears. If you need to change this, choose the correct account from the drop-down list.
    Method *Specify the payment method.
    Date Received *Enter the date the payment was received.
    Your Reference (Optional)Enter a reference for this receipt.
    Amount Received *Enter the total amount of the payment on account.

    * Indicates a required field.

  4. If your customer paid an invoice with part of this payment on account, select the relevant invoice.
  5. Click Save. To add another payment, open Save drop-down menu and click Add Another. Repeat as above.

To record a vendor payment on account

  1. Go to Banking.
  2. Click the required bank account.
  3. Open the New Entry menu and click Expense/Payment.
    Note:

    You can also create a new payment from the Banking page. If you choose to enter the payment from here, you must select the correct bank account when entering details of the payment.

  4. Click Vendor Payment and complete the following information:
    Vendor *Enter either the company name or reference. As you start to type the list of vendors appears, choose the vendor you've paid.
    Paid from Bank Account *Check the correct bank account appears. If you need to change this, choose the correct account from the drop-down list.
    Method *

    Specify the payment method.

    Note: If you select Check, you must also select a vendor for the transaction in order for it to appear in the Check Register. You can print the check from the Check Register.

    Date Paid *Enter the date you made the payment.
    Your Reference (Optional)Enter a reference for the payment.
    Amount Paid *Enter the total amount of the payment on account.

    * Indicates a required field.

  5. If you're paying an invoice with part of this payment on account, select the relevant invoice.
  6. Click Save. To add another payment, open Save drop-down menu and click Add Another. Repeat as above.