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.