The Payments (formerly called Deposits) screen is used to track the payments you receive. Whenever you are ready to make a deposit to the bank, you can create a printed deposit slip, showing all transactions.
Every time you print that deposit slip, the transaction is posted to the General Ledger, listing all customer payments since the last deposit.
Helps found at the end of this chapter include such things as: how to apply non-invoiced amounts, how to apply a customer payment to several different general ledger accounts, how to work through end-of-month procedures, and how to give customer refunds.
Helps Accessed From the Payments (D) Screen
File Help (D)
Ctrl+N—clears the screen, without saving or unsaving the current record, and sets the reference number to the next available number.
Ctrl+P—Prints a receipt. This command prints out a receipt giving the Customer's name & address, check #, amount, and date. It states that the payment was applied to the account.
F5—exits lookup.
Shift+F5—closes alternate lookup.
F6—opens lookup. (Pressing F6 the after the Lookup has opened toggles between a list of All Customers and Active Customers.) Example: F6 on the Customer Code field displays a list of all your Customers. The Search field at the top of the F6 Lookup window allows you to search for a specific customer.
Shift+F6—opens alternate lookup. Example: Shift+F6 on the Customer Code field displays a list of payments made by this customer.
F9—saves record.
Shift+F9—deletes record.
F10—goes to the Selection Screen.
Shift+F10—goes to the Menu Bar.
Esc—exits one level.
Alt+F4—exits ABC.
Ctrl+L—Loads the last customer which was loaded on the Customer (C) screen, Payments (D) screen, Quote (Q) screen or Invoices (R) screen.
Alt+B—searches Back for the previous payment by the currently loaded customer.
Alt+F—searches Forward for the next payment by the currently loaded customer.
Alt+D—If you press Alt+D when the cursor is in the Pmt Apd (Payment Applied) field, you will be prompted to: "Enter customer order#." Type the customer order # that you want loaded on the Payments screen. This allows you to apply a payment to an order. A small letter "o" is displayed in the Earn column to show that this amount is from a work order that has not yet been invoiced.
Alt+I—loads Invoice to the Payments screen. The cursor must be on an Invoice line. This is used to un-pay an invoice.
Alt+N—loads the Next customer code, in alphabetical order.
Alt+O—adds to the payment a list of all Open invoices for the current customer. This tool is used to edit previously entered payments. (When you are entering a new payment, the open invoices are loaded automatically, so this feature is unnecessary. As a matter of fact, to use it on a new entry would load all open invoices twice, once when you entered the customer name and again when you pressed Alt+O.) When you go back to a previously entered payment to add some of that payment to a currently opened invoice, use Alt+O.
Alt+P—loads the Previous customer code in alphabetical order.
F7—opens/loads previous record
F8—opens/loads next record
Shift+F7—When the cursor is on an indexable field, press Shift+F7 to scroll through information in reverse.
Shift+F8—When the cursor is on an indexable field, press Shift+F8 to scroll through information going forward.
Edit Help (D)
Ctrl+A—Adds a blank line at the cursor if you are on the repeating fields at the bottom part of the screen. All lines below will be pushed down a line.
Ctrl+C—Copies text. Place your cursor on the field that contains the text you wish to copy and press Ctrl+C. Then move your cursor to the field you want your information copied to and use the paste (Ctrl+V) function.
Ctrl+E—Erases the line at the cursor if you are on the repeating fields in the bottom part of the screen. This will move up all lines below if there are any.
Ctrl+V—pastes text. Any text that has been copied (with Ctrl+C) or cut (with Ctrl+X) may be pasted into any other field by using the Ctrl+V function. Simply place your cursor in the field you want to copy the information to and press Ctrl+V.
Ctrl+X—cuts text. Place your cursor on the field you want the text removed from and press Ctrl+X. The text will disappear. If you want to replace this text in another field, simply move your cursor to that field and use the paste (Ctrl+V) function.
Ctrl+Z—Zap! Undoes latest changes to the line the cursor is on.
Home— places the cursor at the beginning of the field.
End—moves the cursor to the end of a field.
Page Up—moves the cursor up a page.
Page Down—moves the cursor down a page.
Shift+Left arrow—moves the cursor to the Check Number field.
Shift+Down arrow—moves the cursor to the next available repeating line of the Payments screen, to the line just after the last invoice listed. If there are no invoices listed, it puts the cursor on the first repeating field.
Shift+Up arrow—moves the cursor to the first repeating line of the Payments screen.
Alt+G—moves cursor to the G/L Account # field from anywhere on the screen.
Tools Help (D)
Ctrl+G—Gets or jumps to the address of a certain field. When you press Ctrl+G, a message box appears telling you the address of the field your cursor is on. You are also given opportunity to jump to another address. Enter the location number of the field you want to jump to, or enter F and the field number of the field you want to jump to.
Ctrl+J—accesses a Journal to record anything that you want to remember about this customer. To see previous notes, press Ctrl+J. When you are done, press F9. The notes will be saved with the date and time.
Ctrl+K—accesses a second journal. It is similar to the Ctrl+J journal, but saves your notes with only the date.
Ctrl+T—Telephone dialing. This option allows you to dial the phone # for the person or business currently on your screen. Press Ctrl+T. You will be given a choice of numbers if more than one number on record. Press Enter on the correct number and the number is dialed. (A TAPI driver must be installed on your computer to run this feature. Contact your ABC Accounting representative for further information.)
Ctrl+W—saves the Reference # to a Word Processor list. To see the list, press F10, W, Ctrl+N (to clear screen) and then type DLIST. Ctrl+W
Alt+A—Adds or removes Invoice # from open and paid invoice pointers on Customer screen. See section titled “Data Management Utilities for Payments.”
Alt+Z—If no check amount is entered, automatically pay all open invoices. If a check amount is entered, automatically apply check amount to open invoices starting at the lowest reference #.
Shift+F3—brings up an accountant's* calculator when you press it the first time. The second time you press it, the final calculations showing are entered into the field the cursor was on.
+ adds or totals - subtracts / divides
* multiplies ) clears ( exits calculator
= totals or equals
*If you are not familiar with an accountant’s calculator, you may want to take a little time to familiarize yourself with the differences in usage here. Figures are entered as positive or negative: i.e. 100+50-75= would be entered as 100+; 50+; 75- The answer calculates each time you press the positive or negative sign. The = sign or Enter key seldom need be used unless you are multiplying or dividing.
This number is automatically generated in numerical order by the program.
This code references the Customer (C) screen. Enter or (select with F6) the Customer Code here, and the customer’s information will be brought over to this Payment Entry. The customer's open invoices are listed on the screen, with any partial payments.
Enter the date of the payment. By default, this is today’s date. If you have changed the date temporarily on the Startup screen, that date is displayed.
Enter the amount of the payment. If one check is to be applied to more than one customer, enter only the amount to be applied to this customer. You must make a separate Payment entry for each customer.
If the customer is paying all the invoices listed, press Alt+Z. This will enter the total open balance in the Check Amount field and will apply the payment to all of the open invoices. Double clicking in the Check Amount field will do the same thing.
If you want to apply this payment directly to a G/L account instead of to a customer invoice or the customer NIA amount, enter the G/L account number here. The amount you wish to apply gets entered in the G/L Amount field.
Examples of payments you might apply this way are tax refunds or insurance reimbursements for which there are no receivable invoices.
If the G/L # matches the number in the Special Deposit Acct# field on the Company Setup (#) screen, the amount is posted to the Special Deposit field on the Customer (C) screen, which allows for the tracking of special prepayments.
Enter the amount you want to apply to the G/L account.
Each open invoice is listed on a separate line. On each line, enter the amount of the payment you wish to apply to that particular invoice. To skip an invoice, press Enter or Down arrow.
If the customer took a discount, enter the amount the customer actually paid. Do not include the discount in the Payment Applied. The next field is for entering the discount.
The Balance column on the right indicates the amount that is still open on each invoice.
To apply part or all of the Check Amount to this invoice, double click on the Payment Applied field that relates to this invoice.
If more than one invoice will be paid with the check amount, double click on the Payment Applied field for each invoice that will be paid.
You may also double click on the Discount Applied field for this invoice if a discount was taken.
Or, for the hot-key fans, feel free to press Alt+Z which fills in the Payment Applied field for you, applying payments to the oldest invoices first.
Enter the amount of any cash discount given on the invoice. This field is automatically filled in when a discount is available, but you can manually override it.
You could just double click on the Discount Applied field to apply the Check Amount to the invoice as well as giving the discount.
The Discount Earned field on the right will be set to Y or N to indicate whether the customer took a discount to which he was entitled, based on the discount and payment dates.
Enter one of the following, or press F6 for a list of selections.
#—Check
A—American Express
B—Carte Blanch
C—Cash
D—Discover
F—Foreign Check
M—MasterCard
N—Diners Club
V—Visa
If the payment is Foreign (not from a U.S. Bank) enter an F. Report # 3-18, DEPOSIT TICKET, will print a separate deposit ticket for the foreign entries.
Enter the check number or slip number.
The check number will appear on Report # 3-18, DEPOSIT TICKET. If you want to enter a remark that does not appear on the deposit ticket, enter an asterisk (*) here, followed by a short remark, a space, and the check number. Only the check number will show on the deposit ticket.
If you want the deposit ticket to show a name other than the customer name that shows on the screen, enter a space here, followed by the name you want to use, a space, and the check number.
Entering a Y here indicates that this is the last entry to be recorded on the deposit slip, and saving it will then tally the total payments (starting with the payment after the previous Y was entered), and display the total on the screen. You will also be given the option to print a deposit slip immediately.
Report # 3-14, CUSTOMER PAYMENT LEDGER, prints a subtotal for each Y in the Deposit Total field. This field is also used in posting deposits to General Ledger. For more help on posting deposits, see the section titled “Posting Deposits to General Ledger.”
Advance Payment—Entering (D)
To enter a customer payment for which there is not yet an invoice on record, go to the Payments (D) screen. Just enter the check number and amount and save the entry. The payment will go into NIA (Non-Invoiced Amount) field as a negative customer balance.
If you are tracking advance payments for a special purpose, use the Apply to G/L # field to apply the check amount to the G/L account that you have set up for this purpose.
ABC's standard Special Deposit Account # is 3220.
Petty Cash Transactions (D)
First set up a Petty Cash ledger. This is done on the Company Setup (#) screen. Choose one of the ledgers that is not used and enter the Petty Cash account number.
Adding to Petty Cash
The correct time to add an amount to Petty Cash is just before you make a deposit ticket.
Subtracting from Petty Cash
To enter an expense that was paid from Petty Cash:
How to Print a Deposit Ticket (D)
When you are ready to take your checks to the bank, follow these steps:
1. Press F10, D to go to the Payments screen.
2. Press F7 to load the most recent payment.
3. Enter Y in Deposit Total.
4. Press F9. The payments that have been entered since the last time you entered a Y here are totaled, and you will be prompted to: "Print deposit ticket? (Y/N).”
5. Press Y if you want a deposit ticket printed. Press N if you don't.
6. If you press Y, you will be asked if you want condensed print. Press Y.
Whether or not you print out a deposit slip, the bank balance is updated on the Ledger Entry screen. To view the new bank balance, press F10 and then L.
To enable automatic deposit posting, see the section titled “Posting Deposits to General Ledger.”
Applying a Payment to Several G/L Accounts (D)
If you have a check that pays for something other than an invoice, and you need to apply it to several G/L accounts:
If you use automatic deposit posting, it will put the amount into the specified G/L account, and the next two paragraphs do not apply to your case.
OR
7. If you post Accounts Receivable to General Ledger with Report # 3-37, CASH DEPOSITS BY G/L #, the check is applied to the proper G/L accounts.
Payment Entry Screen—How to Use (D)
To apply a payment to a customer's invoice, press F10 and then D.
A. Type the customer code and press Enter. A list of open (unpaid) invoices appears if the customer has any. (If you are not sure of the code, press F6 for a lookup window showing all customers that are currently on file. Use the Up or Down arrows to place the cursor on the right customer and press Enter to select the customer.)
B. Type the customer's check #. If they are paying cash, type a C in Payment Type. (Press F6 on the Payment Type field for a list of options.) Press Enter.
1. If the payment EQUALS the total of all open invoices, press Alt+Z. This enters the amount of the payment in the Check Amount field and applies payment to each open invoice listed.
2. If the payment DOES NOT EQUAL the total of all open invoices:
a. Type in the amount of the payment and press Enter.
b. (Option 1) Press Alt+Z to apply the payment to the open invoices, starting with the first one on the list.
OR
b. (Option 2) Type in the amount that you want to apply to each open invoice in the Pmt Apd column on the same line as the invoice.c. You can also apply a discount to any invoice by typing the discount amount in the Dis Apd (Discount Applied) column.
C. Press F9 to save.
D. Now you can enter another customer's payment.
A payment can also be applied to a receivable invoice by choosing option D or B on the POS screen that pops up after F9 is pressed to save the invoice. This takes you directly from the R screen to the D screen with the customer already loaded, ready for Step #B. When you press F9 to save, the program returns you to the R screen, ready to make another invoice.
Applying an NIA (Non-Invoiced Amount) (D)
When you enter a check from a customer on the Payments screen, but do not apply it to an invoice, it is saved as an NIA (Non-Invoiced Amount). This happens when a check amount is entered that is greater than the amount in the Payment Applied or G/L Amount fields.
When Report # 3-12 (CUSTOMER AGED TRIAL BALANCE) is run, all NIAs are displayed. Customers with NIAs should be reviewed to make sure a mistake wasn't made when the payment was entered. Check to see if there are NIA amounts that should be applied to an open invoice. This happens when an invoice was entered after a payment was entered, and the payment was not applied to the invoice.
To apply an NIA to a customer's invoice follow these steps:
1. Click on the Sales module; then on the Payments link (F10; D) to go to the Payments screen.
2. Type in the customer's code and press Enter.
3. Leave the check number and the check amount fields blank.
4. If the NIA amount covers the invoice exactly, enter that amount in the Payment Applied field and press Enter.
5. Press F9 to save the record.
Posting Deposits (Payments) to General Ledger (D)
There are three ways to post Deposits to General Ledger.
1. The easiest way is to enable automatic deposit posting. In the Company Setup (#) screen, enter either an A or C in the AutoDepPost (A/C/N) field. A selects the Accrual method of calculating sales. C selects the Cash method. Once this is set up, deposits are posted to the General Ledger whenever you enter a Y in the Deposit Total field. The entry will be posted into the selected checkbook ledger using a decimal check number (called a point entry).
At this point, automatic posting does not post to multiple ledgers simultaneously. Also, it does not check the Discount Account # on the Customer Type (Y) screen.
2. Another method is to run a report at the end of the month.
a. Use Report # 3-14, CUSTOMER PAYMENT LEDGER, if you use the accrual basis of accounting.
b. Use Report # 3-37, CASH DEPOSITS BY G/L #, for cash basis accounting. The entry will be posted into the Computer Entries ledger.
3. The third way is to post the deposits manually by making an Adjustment Entry directly into the Ledger.
Customer Refund (D)
Sometimes a customer writes a check for more than what he owes, and you pay him back with cash.
1. On the D screen, enter the customer's code, the check number and the check amount.
2. Use Alt+Z to apply the payments to his bill(s).
3. Save the record with F9.
4. Enter the customer's code on a new Payments screen record.
5. Enter a C for Cash in the Payment Type field.
6. In the Check Amount field, enter as a negative number, the cash amount you paid the customer.
7. Save with F9.
8. When a deposit ticket is printed, the cash total will be adjusted by the negative amount.
Checks and Balances J (D)
If the check amount entered is greater than the payments due, the amount not applied to invoices is posted to the Cur(rent) NIA field. When the payment is saved, this amount is also posted to the NIA (non-invoiced amount) field on the Customer screen.
If the Check Amount is greater than the payments applied to invoices, a negative amount will be applied to NIA (Non-Invoice Amount).
You will not be allowed to save a payment if the amount you enter in the Payment Applied field is more than the total Check Amount plus any existing NIA amount for that customer.
End of Month Procedures (*)
1. Make sure all customer invoices and payments for the month are entered. Put a Y in Deposit Total on the last payment of the month and save it.
2. Print Report # 3-12, CUSTOMER AGED TRIAL BALANCE.
3. Scan for Non-Invoiced Amounts (NIA) and credit invoices that should be applied to other invoices.
4. Make any necessary corrections on the Payments (D) screen to do this.
5. Print the corrected CUSTOMER AGED TRIAL BALANCE.
6. To see if Accounts Receivable is in balance, follow these steps:
a. Get the total from last month's CUSTOMER AGED TRIAL BALANCE. (If you ran finance charges, use the CUSTOMER AGED TRIAL BALANCE after the finance charges were calculated.)
b. Add the invoices for this month. To find this total, print Report # 3-11, CUSTOMER INVOICE LEDGER. (For the starting number, enter the first invoice number of the month. This can be found quickly by using F6 on the Starting At field or by looking off of last month’s hard copy.)
c. Subtract this month's payments and discounts. To find this total, print Report # 3-14, CUSTOMER PAYMENT LEDGER. (For the starting number, enter the first payment number of the month. This can be found quickly by using F6 on the Starting At field or by looking off of last month’s hard copy.) Use the Total Applied to A/R, which you find at the bottom of the report, just before the Ledger Summary.
d. The result should equal the CUSTOMER AGED TRIAL BALANCE found in # 5.
7. If the aging totals are not equal, run Report # 3-16, CUSTOMER TOTAL SUMMARY, and compare the totals to the totals found above.
a. PRIOR BALANCE should equal last month's Aged Trial Balance.
b. CURRENT SALES should equal the total in Step # 6-B.
c. CURRENT PAYMENTS should equal the total in Step # 6-C.
d. CURRENT BALANCE should equal the total in Step # 5.
8. If you haven't found the problem yet,
· Amounts were changed on invoices or payments from a prior month.
· Not all invoices or payments for the month are included on a report.
9. When the accounts are in balance, back up your data.
10. Print Report # 3-20, GENERATE FINANCE CHARGES. Be sure the report date is correct and the FINANCE CHARGE INFO is set up in the Company Setup (#) screen.
11. Print Report # 3-12, CUSTOMER AGED TRIAL BALANCE again.
12. Make sure the total on this report equals the total of the aging you printed in step 5 plus the total finance charges in step 10.
13. Print Customer Statements using Report # 3-31 or # 3-36. Make sure the report date is correct and statement limits are set up properly in the Company Setup (#) screen.
14. If you are on the accrual basis of accounting, run Reports # 3-27 and # 2-11 choosing P for Posting. This posts the Accounts Receivable and Accounts Payable to the General Ledger.
15. If you want the value of your Inventory to be calculated on your Financial Statements, you must run Report # 1-7 choosing P for Posting. For this to work, Inventory Accounts need to be properly set up. (See help on Report # 1-7 or go to help titled Posting Inventory to General Ledger.)
16. Make an end-of-month backup. Keep this until the end of the next month. Save the Customer Invoice Ledger, Customer Payment Ledger, Finance Charges ledger, and the Customer Aged Trial Balance after finance charges, in a permanent file. You are now ready for next month's entries.
DO NOT CHANGE ANY AMOUNTS
ON BILLS, INVOICES, PAYMENTS OR LEDGER ENTRIES
IN PRIOR MONTHS!!!!!
Data Management Utilities for Payments (D)
In the rare event of data corruption, a paid invoice may show up as open, or vice versa. Also, an invoice may show up under the wrong customer's account. To correct any of these problems, follow these steps:
If you are on a network, use the ABC server for the following steps. Otherwise start with Step # 2.
1. Go to the Payments (D) screen.
2. Enter the Customer Code for the account that contains incorrect data.
3. Press Alt+A.
4. You will be asked for an invoice number. Enter the number of the invoice that is posted incorrectly.
5. The program will correct the customer's open and/or paid invoice pointers for the invoice in question. The customer's balance will not be affected. (The screen display will not be updated until you reload the customer.)
6. To fix another invoice for this customer, go back to step 4.
7. To fix any invoices for another customer, go back to step 3.