Introduction

Sales Receipts and Allocations lets you record Customer Bank Transfer type Receipts, such as Credit Transfers or Direct Debits, and Cheques and optionally allocate them against outstanding transactions (fully or partially). When you receive notification from your bank of customer transfers, check your account for any customer receipts. In addition, you can allocate receipts previously entered using Sales Receipts - Quick Entry‍ 

Receipts are managed via the use of lodgements. This simplifies the bank reconciliation process. A lodgement is a batch of customer cheques, given a specific reference number which will then be used in an actual Bank Lodgement. Several Lodgements can remain open for further additions until they are included in a reconciliation, after which they become unavailable for updating. 

See:

Sales Receipts and allocations (3.7) - AIQ Academy
 

Using Sales Receipts - Quick Entry‍ 

Creating Bulk Payments‍ 

Using Bulk Payment Approval‍ 

Sales Receipts & Allocations

Creating Sales Receipts

1. In the blue banner, go to Sales > Receipts & Allocations.
   
   
    
2. Complete the following:

• Customer: Select the Customer Account from the dropdown. This will auto-fill the Customer’s Unallocated transactions. The currency of the Customer is displayed beside the account name. 
• Bank: The default bank comes from the Customer Master Record. You can select any other Bank GL account from the list in the drop down if you need to record this sales receipt to a different Bank GL account.
• Receipt Date: This is the transaction date of the sales receipt that you wish to record. It is always defaulted to today's date. You can change this by typing over the date required or by selecting it from the calendar. For ease of Bank Reconciliation use the transaction date of the Bank Transfer type Receipts. Note that when just allocating transactions (without creating a sales receipt) this date will impact on the retrospective ageing reports.
• Bank Ref/Cheque: The reference is used during the reconciliation process to match transactions with imported bank statements. This is a mandatory field and must be populated before you can process the sales receipt. This could be a cheque number or any other reference that is meaningful in relation to this sales receipt. If it is a Cheque, you can choose to add this transaction to a Lodgement.
• Lodgement Ref: This is an optional field. Populate this field if you want to record multiple Receipts to a Lodgement Reference. Click the "Add to existing lodgement" option and then from the drop-down list that will populate from your previously entered lodgement click on the lodgement number you want in the "Lodgement No" field.  The system will retain the reference number for all sales receipts recorded. The lodgement reference will display on a bank reconciliation as one line item. Leave this field blank if you only want to record separate Sales Receipts. You can enter a receipt from a foreign currency customer and lodge it into a base currency (or other currency account) bank account.  This system will automatically manage the currency conversion for you.
• Receipt Amount: Enter the total amount to formally receipt in customer currency. The base currency amount will also appear for foreign currency customers. The base currency is calculated based on the Exchange Rate for that currency. If there is a difference in exchange rates of the Invoice and allocated Receipt, the Realised Gain/ Loss will be calculated and posted as a separate journal (SX type transaction).
• Bank Charges: This is an optional field. Enter any Bank Charges related to the receipt (eg. for a foreign currency sales receipt). These are deductions by the bank from the Receipt Amount. The Bank Charges will be automatically posted to the System Bank Charges Account – 4100 and will not be reflected in the Customer Account. You can record the Bank Charges that were applicable to this sales receipt.
• Amount Deposited: This is the Amount that was deposited to your Bank Account, and which will appear on your Bank Statement after any Bank Charges are deducted from the receipt amount. This field will be locked (calculated automatically) in most cases but needs to be inputted by the user if the selected Customer and Bank GL Account are in different currencies. When processed, it will be posted automatically to the GL Control Account associated with the chosen Bank.
• BI Code: This is the BI Code to be associated with this sales receipt. This field is optional and needs to be populated only if you have not done so through the Customer entry.
• Description: Add an optional Description for the transaction. You can enter any additional information in relation to this Customer.
• Balance after receipt: This updates in response to the sum allocated.
• Unallocated: This shows the total amount of the sales receipt that has not been allocated against outstanding transactions.

Process the receipt without allocations

You can enter sales receipts ‘on account’ which means a receipt was received from a customer, but that receipt has not been allocated to specific invoice for goods or services. The allocation of these receipts can be made later.

1. In the Allocate Column, enter the amount received against the relevant Invoices or double-click in each cell to allocate the full amount outstanding. The Receipt Amount will then be calculated from these allocations. Ensure that the Receipt Amount shown is what you expected before processing.
2. Click Process, followed by:

• Process: This will produce a receipt to email to your Customer.
• Process and Print Receipt: This will produce a PDF Receipt in the following format which you can email to your Customer. 
• Process and Print Statement: This will produce a Statement of Account that you can also email to your Customer.

Allocating Sales Receipts

Sales Receipts can be entered and allocated at the same time or allocated later. Receipts can be allocated partially or fully as well as based on selected criteria.The system records the receipt amount and the amount allocated to particular invoices for the selected period at the same time. This lets you see a customer or credit position retrospectively and trace the history of receipts or debit notes to invoices over time. 

Click Clear All Allocations to unallocate any allocated transactions. Note this will not unallocate fully allocated transactions that have disappeared from the grid due to being complete.

Option One: Allocating Receipts partially or fully

1. Enter the amounts you want to allocate in the Allocate column against the Invoices or other transactions. If you double-click on an empty entry, the amount in the corresponding Outstanding column will be fully allocated.  You can then distribute this total against Invoices and other equally signed transactions. 
2. Click Process. 

In this example, Sales Invoices 484 and 486, along with Receipts 000171, have now been fully allocated and consequently no longer appear on this screen, whereas Receipt No. 000168 still has 1,183.50 left to be allocated later.
 

Option Two: Allocating Receipts based on criteria

Click Allocate and select from All Transactions, Due Transactions, or Filtered Transactions. If there aren’t sufficient Receipts and Credit Notes, a Receipt for the Balance on the Account will be created. Be careful not to accidentally create an unintended Receipt. 

• All Transactions: This function will allow you to allocate all pre-recorded Purchase Payments/ Supplier Credit Notes against any Purchase Invoices/ Supplier Debit Journals that are already posted to the Supplier account. This option could be used when the Purchase Payments were recorded through Quick Sales Entry screen and could be allocated at a later stage. This could also be used when recording a payment against multiple invoices and allocating them at the same time.
• Due Transactions: This function will allow you to allocate any payments against invoices that are marked as 'Due'. Any other transactions can be allocated manually or through the 'Allocate All' Transactions option.
• Filtered Transactions

Foreign Currency Receipts

The system facilitates the receipt of Foreign Currency amounts into either of the following:

• Foreign Currency Bank Account: You must have Foreign Currency Bank Account facilities (for each Currency) with your Bank(s) and equivalent Bank Accounts in the system.
• Base Currency Bank Account.

For foreign currency Invoices, perform allocations before closing at month end. This will result in Realised Gains and Losses Journals being created automatically.

Foreign Currency Bank Account

To view the Customer’s trading Currency and default Bank Account, go to the Account Details tab of the Customer Master Record. If the Customer’s Bank Account has a different Currency than the system’s Base Currency, the Sales Receipts and Allocations screen will contain Exchange Rate fields. 

1. In the Receipt Amount field, enter the Foreign Currency Amount.
2. In the Receipt Date field, enter the relevant date. When allocating foreign currency receipts to foreign currency invoices, the date of the receipt will be used for the realised gains or losses journal.
3. Enter the Exchange Rate at the time of Receipt. This will calculate and display the Base Currency equivalent for General Ledger Posting purposes.
4. Enter the Bank Charges (if any) the Amount Deposited will be calculated.

Base Currency Bank Account

In the Amount Deposited field, enter the foreign currency amount that was deposited into your Base Currency Bank Account, after Bank Charges (if any).  The Exchange Rate is calculated from this amount taking into account any Bank charges levied.
 

In the example below, the Bank is in GBP and the Customer is in USD and the Amount Deposited and Bank Charges are in GBP:
 

Dealing with Remittances

In unusual circumstances, a Foreign Currency Customer could forward Remittances to be deposited in a Bank Account with a Currency different to both the Customer and Company Base Currency.  
 

In this example, an Australian Customer has forwarded a payment (Receipt Amount) to be lodged into a Euro Bank Account.
 

The Exchange Rate for the AUD amount received is used to calculate the following:

• Receipt Amount in Base Currency for GL Posting purposes.
• Equivalent Amount Deposited to the Euro Bank Account less any Bank Charges levied.
   

See:

  How do the Multi-Currency Features of the System Work? 

Show Me step-by-step walkthroughs

Click Show Me to access step-by-step walkthroughs.

Create a payment on account

This shows you how to create a basic payment.

Allocate Transactions

This takes you through allocating the available list of Invoices (and other equally signed transactions) and Sales Receipts.
 

Currency Triangulation

This shows you how to deal with foreign currency transactions.
 

Create Filter and Grid Options

You can use the filters in the column headers to find specific transactions or you can sort by a column heading. Click Create Filter to narrow down transactions.
 

• Click the Blue field to select a filter parameter. 
• Click the Green field to select an Operator which will then request a value or another field. 
• Click the Plus icon to add another filter and click the X icon to remove a filter. 

Grid Options

Grid Options allows you to add and remove Columns from the grid display. 

• Customise Grid: This is the option to use if you want to customise the grid in the main part of the Customer screen. You can drag and drop options available if you want to add or remove columns in the grid. Any changes made should be saved through Save Grid Customisations option.
• Reset Grid Customisation: This option should be used if you want to reset the Grid to its original view.

See:

How do I Navigate the General Features and Facilities of the System? 

How do I Use & Customise the Transaction Browser?