The practice of receiving/applying payments to your clients' invoices is crucial to ensuring proper account balances and maintaining correct data in your accounting reports. Thankfully, we've made receiving and applying payments faster and easier, by giving users the option to do this from several different places within the system! Please keep reading for more information.
- Would you prefer to watch a video tutorial on this topic instead? If so, you'll find one linked at the bottom of this article!
RECIEVE/APPLY NEW PAYMENTS FROM THE ACCOUNTING TAB
- Click on the Accounting tab.
- Click on the Receive Payment button.
- Enter your Client, Project, Amount, Date, Payment Method, and any notes.
- Check the box next to each invoice you wish to apply the payment to. By applying payments to Invoices, this will mark those Invoices as Paid in the system.
- When you are done, click the Save button.
The payment will now be added to the client's accounting and applied to the invoices you selected.
APPLYING AN EXISTING PAYMENT WITHIN THE CLIENT'S ACCOUNTING
- Click on the Clients tab.
- Click on the desired client.
- Click on the client's Accounting tab.
- Click on the payment you wish to edit (if a payment doesn't have a green checkmark next to it, then the payment still has funds left to be applied to Invoices)
- Once the Payment window is opened, click on the Edit button.
- Under the Unpaid Invoices section, check the box next to each invoice you wish to apply funds towards.
- Then click Save.
APPLYING AN EXISTING PAYMENT WITHIN A SPECIFIC INVOICE
- Click on the Invoicing tab.
- Click on the desired invoice you wish to open (if you cannot find it, click on the Show Filters link and search by invoice number or client).
- Once the Invoiced is opened, click on the Payments tab within the invoice.
- Then click the Apply Payments button.
- In the payment pull-down menu, choose the payment that was previously added to the system.
- The Amount filled will default to the amount of the payment however you can change the amount if you want the amount to be lower than the payment.
- Press the Save button.
PAYMENTS VIDEO TUTORIAL
Please click below to watch our step-by-step video tutorial of the payments workflow.