Generally there are 2 sources of receipts; from customer and non customers.
Receipts are payments made by
| 1. | Customers to your company (for purchases made), against their invoice (Accounts Receivables , or AR) |
After your sales had been made, ( Sales Journal or Debit Note) if it is a credit term invoice, your customer will pay you as it becomes due.
For recording purpose, you need to enter into the system, 5 basic information
| i. | Who pays you (i.e. enter the customer id) |
| ii. | When pays (i.e. the date the cheque is cleared) |
| iii. | Where ? (i.e. where is the money placed? in the bank or cash-in-hand or which bank, i.e. if you have more than one bank ) |
| iv. | How much? ( i.e. how much is paid) |
| v. | What ? ( i.e. pay for what invoice) |
| 2. | Non customers' receipts are money bank in, not due to sales. Example when director loan money to the company; GST refunds ; refund of payments made for some expenses, share capital injection etc |
They can pay in a form of cheque, telegraphic transfer, Interbank GIRO (Singapore only) , Paynow (Singapore users only) etc.
Step 1: Click A/c Entry--> Receipt
Step 2 : From Cust
Click on the help button to refer other related topics
Continue with the topic [From Cust] Receipt - Customer and [Others] Receipt - GL for Step 2 and above.
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