This article provides guidance on how to apply payments and/or credits along with some suggested reporting to utilize in AccountMate's AR Module. If you have further questions, please refer to AccountMate's articles found in Help of AM.
Applying Payments in AR Module
If you have purchased the AR Module of AccountMate, you can take advantage of the module’s Apply Payments form. Applying Payments form allows you to reconcile payments made by Cash, Check, or Credit Card in this accounting system. To access this, you will need to ensure you are logged into AccountMate and the Accounts Receivable Module (AR) is selected.
Once you have logged into AccountMate and have confirmed you are in the AR Module, you can navigate to Transactions on the top menu and then select Apply Payment from the dropdown menu:
This will open up your Apply Payment Form.
Once this form is open, you will select the magnifying glass by right clicking if you are unsure of the Customer # you are applying payment for.
This will open your customer list and you can then search for this customer in a variety of ways which include the Customer #, Company, First or Last Name, Address, etc.
Once you have selected your customer record, you can highlight and click okay at the bottom of the form:
This will bring up the customer record in the Apply Payment Form.
- You will then need to select the appropriate Pay Code under the Payment section. Clicking the magnifying glass will show you which payment methods you have available to choose from.
- You can then enter the Paid Amount
- Change the Receipt Date (if applicable)
- Populate Check/Card # (if applicable)
- Enter a Reference Number (if applicable)
After you’ve entered the details above, you will then see the Unapply Amt populated with the Paid Amount total.
You can either then Auto Apply the amount, which will spread the payment across all open invoices for the customer, paying the oldest invoice first OR you can apply the amount directly to an invoice in the table shown here:
As you will see in the image above, the customer in this example paid by check for $40.00. The amount was applied to the first invoice and now shows a total unapplied amount. This amount can either be applied to the remaining invoice(s) balance or you can save the form, which will then leave an open credit against the customer. If this occurs, you will be prompted with this message and should click yes if you wish to continue:
If the customer only has 1 open invoice and has paid the exact amount, you should follow the steps previously, but simply click on the Auto Apply button. Once that is confirmed and your unapplied balance shows as 0.00, you can then hit Save at the top of the form.
This will then display a Receipt window in which you can either print the receipt from the payment to email to the customer or you can click ‘New’ to move onto the next payment to apply.
Applying Open Credits in AR Module
If your customer does have open credits on their account they wish to apply to an open invoice, you will do this from the Apply Payment form as you did for an actual payment. You will follow the same instructions for opening the customer account to apply a payment. This time, you will see the customer has a Total Open Credit populated.
You can then click on the button to Apply the Credit or you can enter in the amount you wish to apply to the Apply Amount Column if the customer has multiple invoices.
If the customer is making no other payments other than their open credits, then you can hit Save at the top. If the customer will be making additional payments, follow the steps previously provided to apply a payment.
Payments Reporting in AR Module
If you wish to review payments applied in AccountMate, you may do so utilizing the Payment Distribution Report. This report will detail all payments made for all time OR you can filter to a specific date range. The final page of the report will show you the total for payments made based on your report criteria.
This report can be accessed from the Reports menu, under Payment Reports:
In the example below, we are only going to run the report for payments made for the current date. This is done by unchecking the “Entry Date” box which will auto populate today’s date. The date can be changed if you are looking to report on another date range. Once you have set your criteria, you can then hit preview to generate the report.
If you wish to see a report on open credits for all customers, you can run the Open Credit Report. This is found from the Reports Menu under the Receivable Reports.
As with any reports in AccountMate, you can set the available criteria filters and then select Preview to view the report before printing.
