Process Customer Payments
When your customers have made payments, typically through your electronic bank site, you must apply each amount paid to the related unpaid sales document and then post the payment to the general ledger, customer, and bank accounts. You can perform these tasks either in the General Journal window, using functions for bank statement import and automatic application, or you can perform these tasks manually in the Payment Registration window.
The following table describes a sequence of tasks, with links to the topics that describe them. These tasks are listed in the order in which they are generally performed.
| To | See |
|---|---|
Import a bank statement file and apply payments to entries using an automatic application function in the General Journal window. Use specified mapping rules that map payments with debit or credit accounts and a balancing account according to text found in the payment description. This topic also covers vendor payments. |
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Use the Payment Registration window to apply customer payments to open entries manually without importing a bank statement file. In this window you can verify and post individual or lump payments, initiate finance charges for overdue payments, process discounted payments in different scenarios, and find specific unpaid documents for which payment is made. |