Post a Receipt that is linked to a Sales Order
In AcctVantage, we have the ability to enter a client payment directly on a sales order (using the Payments tab.)
When necessary, receipts entered here can be posted independently of the sales order. This is helpful if you don't want to invoice the order just yet but you do need to post the receipt so you can reconcile your bank statement.
The requirements for using this feature are:
- You must have a Sales Order with a Receipt that has been entered on the Payments tab.
- The Sales Order must not be posted.
- You must have a Client Deposits liability account entered on the Client record.
Other notes:
- You can have as many of these linked Receipts per Order as you need.
- If necessary, the Receipt can be removed from the order and either applied elsewhere or refunded to the customer.
- When issuing a Credit Memo, you can also apply that credit balance to a previously entered Order.
1. A Sales Order with a Receipt
On the Payments tab of the Sales Order, we have a RTP Receipt (i.e. ready to post). We want to post this Receipt prior to posting the Sales Order because will let us reconcile our bank statement without shipping the sales order and posting the sales revenue.
Note that the Client previously had already sent two pre-payments of $43.90 which we've already posted.
2. Post the Receipt.
If you cross-reference from the Sales Order window to the Receipt window, you will see an RTP Receipt where the Source = Invoice. This means that the Receipt was entered via the Sales Order (as opposed to entering a standalone Receipt via the A/R module.)
- Highlight the Receipt.
- Open the Action Menu and select Post Selected Records.
2.1. Are you sure you want to post?
Select Yes to proceed with posting.
2.2. The selected receipt is linked to an order...
Click Yes to proceed. The Receipt will be posted as a Client Deposit and it will be automatically attached to the Sales Order from which the Receipt was originally linked.
3. The Sales Order now has another Deposit
After the Receipt is posted, it is converted into a Client Deposit and applied to the Order in the section labeled Apply Open Credits or Deposits. Notice there is no longer anything in the Payments section.
The Receipt (i.e. Deposit) can now be batched into a Bank Deposit and reconciled when you receive your Bank Statement.
Change the amount to apply (optional)
If you double-click on any line in the Apply Open Credits or Deposits section, you can change the amount of the deposit to be applied.
When this is done, any unused deposit balance will remain on the Client's account until used.
