Receiving payments

When you receive payments for an invoice you enter the details in this screen. In this system you must enter the payment against an invoice number. You can not enter a payment ‘on account’. The reason for this is to maintain control of debtors both in terms of the client and the jobs. When you enter the invoice number the job number and the client are automatically found and displayed. Also displayed is the amount outstanding.

The amount paid is the actual value of the money (or Cheque,EFT) received. If you receive less than the amount invoiced the outstanding amount will be adjusted accordingly.

The GST Inc is the Goods and Services Tax which is included in the amount received.

The Discount is any amount that you have allowed the client in the way of discount. It is also a handy method of balancing any short payments. For example, you may send an invoice for $142.33 and the client sends a cheque for only $142.00. This would mean that the client would stay on the books as a debtor for 33 cents. You will probably decide that this amount is not worth chasing so just add the 0.33 in the discount column. Note however, that this does not apply to larger amounts which may be the subject of a credit. See tutorial for further discussion on credit notes.

Note!  if exporting to MYOB/XERO do not use discounts as they will imbalance the MYOB/XERO export.

Individual payments can be entered into individual jobs on the payment screen, However the preferred method of receiving payments in CostManager is via the "Batch Data entry" Payments screen.

Allowing you enter multiple payments for different invoices in a single screen. Note all boxes a ticked in the Grid options/hide column, you can choose which you want to see. To select required view just "tick or untick" each box. Changes will save automatically.