Receipts Ledger / How to Receive Cash

The Receipts Ledger is where you can record payments against open sales invoices, and find all of the payment receipts that have been entered.

On the inquiry, you have the ability to filter by Date, Customer, Department, and Status. If needed, you can search by Batch No as well.

How to Record a Payment

Recording customer payments are quite easy, and can expand your reporting capacity if done properly. By keeping AR in cieTrade, you can leverage the many AR reports that we have to see key metrics and gain powerful insight into your sources of revenue.

To record a payment:

1. Navigate to the Receipts Ledger (Accounting > Receipts Ledger).
2. Select Tasks > New Receipt.
3. The page you are brought to is the payment received form. Select a Customer and Payment Mode to get started.
   1. For more information on the different payment modes and their implications, please see our helpfile here. 
4. Under the Open Invoices section, find the invoice(s) you are applying payment to. The Applied column is the amount of money you received, and therefore is being applied to the invoice. 
5. If a discount, banks fees, or interest charges are applicable, you can use the respective field (that's labeled) to record the amount.
6. Choose a Payment Date and Deposit To account.
7. Enter a Payment # to identify the payment (this may come from the customer's check). You can use the Reference # (field) to record any additional information that's needed.
8. Once you're finished, click Post. At the point of posting the receipt, a journal entry will be made within your accounting system for the amount received.

You're done! All of your (payment) receipts can be found on the Receipts Ledger inquiry.

How to Undo a Receipt

1. From the Receipts Ledger, find the AR Batch that needs to be undone and click it.
2. Once you're at the overview page of the batch, click the Undo Batch button. 

You're done!

NOTE - Please follow the below rules when reversing a cash receipt and reposting.

UNDO

1. The default undo date will be today's date
2. The end user can back date the date as far back as the original posting-date of the related AR Batch being reversed.
3. The undo date cannot be in a closed period (ever).

REPORTING AR

1. Payment post-date must be in an open period.
2. Payment post-date defaults to today's date.
3. Payment post-date can be back dated BUY must be after the most recent invoice date among the invoices selected for the batch.
4. You can post a new payment prior to a previous posting as long as all other rules apply.
5. Payment cannot be received in the future.

More Information

Open Invoices - Date Filter

You have the ability to narrow down your search of open invoices by specifying a date range. This can be achieved by clicking "All Dates" and changing the date range.

Bank Fees & Interest Charges

Bank fees and interest charges can be applied with the payment. This can be achieved by entering the amount of the fee or charge within the respective field.

As an example of how it will work: If the payment amount is $980, and the bank fee is $20, then the payment applied to the actual invoice will be $1,000.

Tolerance Adjustments

You have the ability to let the system automatically create a sales adjustment for instances when you receive a payment that's less than the invoice amount. This can be achieved by checking the box for Use Tolerance Adjustment prior to clicking Post.

Our helpfile on setting up and using this feature can be found here: link

If you have additional questions, please contact the Support Team via email at  support@cietrade.net