Receiving Payments

Record customer payments and manage deposits.

Receiving a Payment

1. Click Receive Payment on Dashboard
2. Select the Customer
3. Enter:
   • Payment Date
   • Payment Amount
   • Payment Method (Check, Cash, Credit Card, etc.)
   • Reference Number (check number, etc.)
4. Select invoice(s) to apply payment to
5. Click Save Payment

Undeposited Funds

By default, payments go to Undeposited Funds - a holding account that represents money you've received but haven't yet deposited at the bank.

This mirrors real life: you collect several checks during the week, then deposit them all together.

Why Use Undeposited Funds?

• Match bank deposits to actual bank statement amounts
• Group multiple payments into single deposits
• Easier bank reconciliation

Creating a Bank Deposit

1. Click Deposit Received Payments on Dashboard
2. Select payments to include in this deposit
3. Choose the Bank Account
4. Enter Deposit Date
5. Verify the total matches your actual deposit
6. Click Create Deposit

Payment Methods

• Check - Customer check payment
• Cash - Cash payment
• Credit Card - Card payment (manual entry)
• ACH/EFT - Electronic bank transfer
• Wire Transfer - Wire payment
• Other - Custom payment type

Applying Payment to Invoices

When receiving payment:

• Outstanding invoices for the customer are listed
• Enter amount to apply to each invoice
• Payment auto-distributes to oldest invoices first (optional)
• Partial payments allowed - invoice shows remaining balance

Overpayments

If customer pays more than owed:

• Excess creates a credit on customer account
• Apply credit to future invoices
• Or issue a refund