You should not start this section until you have completed the other elements of the Sales Ledger - primarily the creation of Sales Invoices.
Also make sure that you have the current period open. If you have not opened a period to which you can post transactions, see the section earlier in this Tutorial on opening Accounting Periods.
Use the Invoice Receipt function to inform Enterprise 6 which of your Invoices have been paid by your customers - in other words to 'allocate' the payment against the invoice(s) issued by you by your client.
You receive a cheque from Safemarkets, one of your best customers, and need to process the receipt. Choose 'Invoice Receipt' from the Sales Ledger menu in the Sales Ledger volume.
The Invoices Quick Search window appears. If you click [Find] without typing anything, you will be given a list of all invoices for which complete payment has not been received. However, you know that the Receipt is from Safemarkets, so type "Safe" and click [Find].
A list of Sales Invoices will appear, including some examples we have already produced for you. The invoice details, invoice value, total paid and total due are all shown.
Enterprise 6 will handle full or part payment of single or multiple invoices.
Choose 'Select All' from the Edit menu, or type <Command-A> (Macintosh) or
Click the [Receipt] button at the foot of the list.
The Receipt dialogue box appears.
Enterprise 6 tells us in the 'Total Due' field that we are owed more than £47,000 by Safemarkets. But they are not paying in full.
Enter a payment of £11103.75 on account in the 'Amount' box.
Enterprise 6 defaults to the current date, but you can override this by overtyping.
Enterprise 6 also defaults to your standard Bank Current Account (set in Preferences in the Data Manager volume). If you wish to receive this payment into your Building Society Account, or your Bank Deposit Account, you can specify the Nominal Ledger account number in the Bank box.
Note
Remember that, if you wish to override the default bank account, you can get a pop-up selection list by entering a wildcard, so you do not need to remember the appropriate Nominal Ledger codes.
Click [OK].
If you have the current period open, you can now go ahead and confirm the allocation. Otherwise, select an open period for posting.
The Receipts Allocation dialogue box will appear.
As a default, Enterprise 6 automatically allocates monies to invoices in date order, oldest first.
Where a payment on account is made to a number of invoices you will often see that the oldest invoices have been marked as paid in full (the allocated amount equals the total for each invoice). The most recent invoices may not have not been paid at all (the sum received was insufficient to cover these), or they may have been part paid.
If you wish to change the allocation, you can click on any of the invoices listed and alter the sum allocated to that invoices in the subsequent dialogue box. At the end of the process, your changes in allocation must equal the sum received, or Enterprise 6 will not allow you to post this transaction. The Remainder figure shows how much is unallocated and must be zero before the transaction can be posted.
Once you have finished, click [OK] or hit the <Enter> key. Enterprise 6 asks you, 'Are you ready to post the Receipt?' Click [Yes] to proceed.
Finally, you are returned to the Invoices List. You will see that the sum Paid has increased, and the amount Due for the various invoice(s) has been reduced accordingly.
Click [Accept] or hit <Enter> to finish the procedure.