The Make Payment screen is used to apply payment to Sales or a Purchases. This screen also allows you to add/edit an existing payment.
Apply a Payment to a Purchase
- Click the add icon adjacent to payment in the main menu.
- Enter in the amount you wish to pay if it differs to the default (full payment). You can assign payment to as many Purchases as you like provided that the total allocated does not exceed the total payment amount at the top of the screen.
- The Amount Remaining To Be Allocated line shows you the difference between the total amount and the amount allocated to all of the Purchases. If this number is a negative number, you have allocated more than the total amount of the payment. If the amount is $0.00 you have allocated all of the payment amount correctly. If it is a positive number, you have not allocated enough.
- Sometimes you need to store more detailed information about a transaction for tax or reference purposes. The notes field gives you a place to store such information.
- Save the Payment. This screen will not allow you to save the payment until you have correctly allocated the payment.
Print or Email Remittances
Once you create and save a payment on a Purchase Invoice or Purchase Order you have the ability to print or email a Remittance to your customer. To print or email a Remittance:
- Once you have saved the Purchase Payment (as created in the above help section) you will see a menu at the top of the Purchase Payment screen.
- Click Print PDF to view the print version. It will load in Adobe Reader automatically. Or,
- Click Email PDF to load the email template ready to send an email with PDF attachment to your customer.
Note if you have paid multiple invoices in your payment Saasu will list all the related invoices and payment amounts in a single Remittance
|Date||Enter the date that the payment was paid or received here.|
|Amount||Enter the payment amount into this field. Saasu will automatically calculate the Tax based on the invoices the payment is allocated to.|
|Account||Enter the account that was used to perform the transaction in this field. That is, where the money was paid from, or received to. To create a new account, click the plus icon.|
|Reference||This field allows you to include additional reference information to help you to identify the transaction, or to cross-reference with your bank records. For example you can use this field to store anything you like a EFT reference or cheque number.|
|Date Cleared||This field allows you to store a date that the payment cleared in your bank or credit card account if different to the Date specified earlier.|
|Summary||To make it easier to find and identify your transactions, enter in a brief summary. The summary appears in some reports and transaction lists. It is recommended that you keep this summary reasonably brief so that it appears more neatly on reports and transaction lists. For more detailed information about the transaction, use the Notes field instead.|
|Invoice List||The payment screen shows a list of invoices that are unpaid so that you can assign a payment across multiple invoices.|
|Contacts||Use the Show outstanding invoices for Contact List drop-down to narrow down the Purchases in this list. This is useful if you have a large list of outstanding amounts to contend with.|
How do I enter partial payments for Invoices?
- Locate the invoice from the list of invoices.
- Click the edit icon beside it.
- When you are in the edit screen for the invoice, click the Pay link in the top bar.
- In the Make Payment/Receive Payment screen, enter the partial amount in the Amount Paid field.
- Click Save And Close.
- You will now see the partial payment amount under Payment(s) in the invoice.
Repeat the above steps when a partial payment is received or paid until the full payment has been applied.
When a customer has over paid you here is a suggested method to handle this in Saasu.
NOTE: this does not replace accounting advice given by your Accountant, and any indications of ledger accounts are examples only. This is very general technical advice.
Identify with the customer how they would prefer the money to be handled:
- Funds returned to their Bank Account
- Funds to be applied to a future invoice, see Adjustment Notes
Decide how long you will want to wait for the customer’s response. For this example we’ll set it to 7 days. We will not touch the bank feed entry for this overpayment until the 7 days roll over.
Clearing Account Method
If the customer does not get back to you within 7 days, you will need to move the funds to a temporary account, until such times as it can be dealt with.
Journal the overpayment to a ‘Liability’ type of account, such as ‘Liability: Deposits Received Clearing‘ (check with your Accountant).
Should the client respond after this, saying they wish for the funds to be refunded, you will need to action a few steps:
- Journal the bank feed overpayment to an ‘Asset’ type of account, such as ‘Asset: General Clearing’
- Do the transfer, and wait for the funds appears on your bank feed as a ‘Withdrawal’
- Journal it to the same ‘Asset’ account to negate it out
- Journal out the Liability amount